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trade stock, stock recommendation
Begin part 2 of 2
THE PLAYS
Good movers Tuesday: LMT; OIS; STJ; WYNN; YHOO; UVN
NEW PLAYS:
Downside:
Play Date: 09/28/2004
CHIR (Chiron--$44.22; +0.63; optionable): Biotechnology
http://biz.yahoo.com/p/c/chir.html
After Hours: $44.24
STATUS: Put. Broke through the 50 day EMA (44.61) last week and was selling Monday on stronger volume. Tuesday it gapped higher to the 50 day, but that was as far as it got, showing a doji at that level on even stronger volume. Weak money flow and under distribution. Looking for it to continue lower after this gap to a doji. Looking for a 52%ish gain.
Volume: 1.797M Avg Volume: 1.619M
BUY POINT: $43.94 Volume=2M Target=$41.88 Stop=$44.55
POSITION: CIQ WI - Nov. $45p (-60 delta)
http://www.investmenthouse.com/ct/chir.html
Play Date: 09/28/2004
IDXX (Idexx Labs--$48.63; -0.65; optionable): Diagnostic substances
http://biz.yahoo.com/p/i/idxx.html
STATUS: Put. Selling on rising volume Tuesday as the rest of the market moved higher. IDXX slid lower in a nasty downtrend June to August, then rallied with the market. Not much of a rally, moving just slightly higher and unable to break the 18 day EMA (49.47). As the 50 day EMA (50.99) came down to sit on the stock it started lower on rising volume Monday and again Tuesday. Looks ready to continue the move lower. Even if it holds the August low near 45 and sets up a double bottom, we get our nice 41%ish gain.
Volume: 274.284K Avg Volume: 281.905K
BUY POINT: $48.47 Volume=300K Target=$46 Stop=$49.55
POSITION: UID WJ - Nov. $50p (-60 delta)
http://www.investmenthouse.com/ct/idxx.html
Upside:
Play Date: 09/28/2004
OMC (Omnicom Group--$72.85; +0.95; optionable): Advertising agency
http://biz.yahoo.com/p/o/omc.html
STATUS: Cup. OMC is making a run off of the bottom of its 9 month base after forming a short 9 week reverse head and shoulders. Volume has moved above average as it makes the move off the 50 day EMA (70.69). Looking to move in on a further gain with continued volume. Looking to trade this one up toward the 200 day SMA (77.68).
Volume: 1.203M Avg Volume: 1.223M
BUY POINT: $73.12 Volume=1.3M Target=$77.25 Stop=$71.98
POSITION: OMC AN - Jan. $70c (75 delta)
http://www.investmenthouse.com/ct/omc.html
CONTINUING PLAYS:
BDX, ECL, KMRT and WITS all look ready. See Monday report for details.
CONTINUING PLAY TABLE:
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMMD 09/14 DB hdl 35.2 -0.07 33.64 38.25 521K 250K 35.65
Current.
BDX 09/13 Cup hdl 51.35 +0.12 51.88 57 957K 1.5M 50.28
Buy Not Issued.
CHK 09/25 Rv H&S 15.73 +0.03 15.85 18.95 2.3M 2.5M 15.12
Buy Not Issued.
ECL 09/25 Cup hdl 31.43 +0.5 31.68 36.55 584K 952K 30.55
Buy Not Hit.
FLS 09/16 Cup hdl 23.88 +0.33 24.44 28.48 277K 415K 23.62
Buy Not Issued.
GENZ 09/18 Cup hdl 56.25 +0.69 55.54 62.55 2.5M 3.5M 55.25
Current.
HRS 09/27 Test BO 53.41 -0.07 53.88 59 302K 600K 52.44
Buy Not Issued.
KMRT 08/18 Dbl btm 85.85 +0.29 80.22 92 1.1M 3.6M 87.88
Current.
LH 09/20 DB hdl 43.6 +0.23 43.59 49.68 468K 750K 42.98
Current.
LMT 08/23 DB hdl 55.5 +0.86 54.81 59.98 2.2M 2.8M 54.12
Entered today.
OIS 09/15 Test BO 18.99 +0.39 18.05 21.21 195K 290K 18.02
Current.
OPTV 09/27 Test BO 3.13 +0.08 3.15 4.25 552K 525K 2.93
Buy Not Issued.
QCOM 09/02 FlyPlat 38.09 +0.08 38.82 45 9.5M 11M 38.88
Current.
SIMG 09/21 DB hdl 11.92 -0.13 13.06 15.65 720K 1.5M 12.72
Buy Not Hit.
STJ 09/22 Test 20 72.7 +1.32 72.78 76.85 1.4M 1.5M 71.96
Current.
TDS 09/24 FlyPlat 83.55 -0.23 84.68 100 112K 265K 83.72
Current.
TDS 08/02 FlyPlat 83.55 -0.23 77.46 82.38 112K 265K 83.88
Current.
VRNT 09/04 Dbl btm 34.51 +0.39 33.58 38.36 186K 216K 34.14
Current.
WCN 09/11 Test BO 30.96 +0.03 30.69 34.22 101K 350K 30.74
Current.
WITS 09/25 Test BO 15.6 +0.26 16.21 19 401K 543K 15.88
Buy Not Hit.
WYNN 09/18 Cup hdl 52.06 +1.98 45.38 53 2.2M 558K 48.95
Current.
YHOO 09/02 Cup 32.8 +0.98 32.48 36 18M 25M 32.32
Current.
ZBRA 08/25 Dbl btm 60.61 -0.3 56.45 60 317K 425K 60.97
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ALTR 09/25 Put 18.92 -0.09 19 17.38 11M 10M 19.44
Current.
BBOX 09/24 Put 36.73 +0.13 37.24 35 63K 175K 37.85
Current.
CENT 09/27 Put 30.17 +0.44 29.61 27.88 323K 200K 30.05
Buy Not Hit.
CHKP 09/22 Put 17.01 +0.03 17.87 16.35 2.3M 3.5M 17.38
EYE 09/22 Put 20.35 +0.32 19.98 17.78 335K 485K 20.48
Current.
HNI 09/25 Put 39.6 +0.2 39.31 37.81 152K 163K 39.95
Buy Not Issued.
JCP 09/18 Put 36.13 -0.26 35.97 34.15 3M 3M 36.72
Current.
KCP 09/27 Put 29.83 +0.22 29.48 27.75 146K 126K 30.12
Buy Not Hit.
OEX 09/22 Put 534.19 +3.17 535.33 522 1.4M 1.3M 533.68
Current.
PPG 09/23 Put 60.41 +0.93 59.28 56.45 763K 545K 58.89
Buy Not Issued.
SOX 09/25 Put 373.69 -3.27 377.28 355 0 0 383
Current.
UVN 09/27 Put 31.19 -0.56 31.31 29.54 1.5M 1.5M 31.65
Entered today.
Good Investing!
Jon L. Johnson and your Technical Traders Report Team
All of the foregoing is commentary for informational purposes only. All statements and expressions are the opinion of Online Investment Services, LP. or its paid consultants and are not meant to be a solicitation or recommendation to buy, sell, or hold securities. We are not licensed or registered in the securities industry. The information presented herein and on our related web site has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. The security portfolio of Partners in Online Investment Services, LP. or its paid consultants may, in some instances, include securities mentioned herein and on our web site. Estimates, assumptions and other forward-looking information are subject to the limits of forecasting. Actual future developments may differ materially due to many factors.
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