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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Thursday: AH; CREE; CTSH; GW; WCN; TWTI; VIP; JCP; KCP
Wednesday night play results:
JCOM: Jumped higher on solid volume but backed off to the close. Still set to go.
JUPM: Did not like the gap higher, but if it tests again and starts up it is ready.
SHFL: Gapped and ran on volume though gave much of the move back.
VRSN: Held steady, still ready to make the move higher.
New Plays:
Upside:
Play Date: 09/30/2004
AMT (American Tower--$15.35; +0.39; optionable): Telecom services
http://biz.yahoo.com/p/a/amt.html
STATUS: Flat base. Volume has jumped above average the past two sessions as AMT looks to make the breakout from its 13 week base sporting strong 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume). After a stretch of low volume, you can see volume start to rise this past week. It is looking for a new multiyear high on a breakout. Held up very well in the recent selling, just shaking out the last sellers and working on its base.
Volume: 2.799M Avg Volume: 1.784M
BUY POINT: $15.55 Volume=1.8M Target=$18.68 Stop=$15.97
POSITION: AMT AC - Jan. $15c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/amt.html
Play Date: 09/30/2004
NCR (NCR Corp.--$49.59; +0.09; optionable): IT software services
http://biz.yahoo.com/p/n/ncr.html
STATUS: Cup w/handle. Volume surged Thursday as NCR held in a tight range in the handle of its 11 week base. A nice pattern that used the 200 day SMA (45.11) as support at the lows. The volume spike gets us very interested, a 'get ready' spike in the handle. Excellent 6 to 1 accumulation in the base setting the stage for a breakout. Want to see this volume hold up as it makes the move through the buy point.
Volume: 1.309M Avg Volume: 617.318K
BUY POINT: $51.02 Volume=900K Target=$60 Stop=$49.05
POSITION: NCR AJ - Jan. $50c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/ncr.html
Downside:
Play Date: 09/30/2004
CGNX (Cognex--$26.20; +0.02; optionable): Scientific & technical instruments
http://biz.yahoo.com/p/c/cgnx.html
After Hours: $26.20
STATUS: Put. After a hard drop last week on strong trade as CGNX fell out of a 9 week lateral move, it has made a lower and lower volume rebound to test the plunge. Thursday CGNX tapped at the 18 day EMA (26.67) on the high and then faded to close right at the 10 day EMA (26.22). Looking for a roll back over here for a move back toward the September low and a 41%ish gain.
Volume: 335.131K Avg Volume: 589.318K
BUY POINT: $25.94 Volume=750K Target=$23.88 Stop=$26.32
POSITION: QCG WF - Nov. $25p (-30 delta)
http://www.investmenthouse.com/ci/cgnx.html
Play Date: 09/30/2004
RGS (Regis--$40.22; -0.95; optionable): Personal services
http://biz.yahoo.com/p/r/rgs.html
STATUS: Put. Volume jumped Thursday as RGS fell from the 50 day EMA (41.29) as RGS resumed the move lower. Money flow is falling ahead of the stock. That combined with the stronger volume indicates that RGS, after failing two weeks back at trying to retake the 200 day SMA (42.30), is ready for a deeper test toward the August lows. That would give us a nice 45%ish gain.
Volume: 337.2K Avg Volume: 207.863K
BUY POINT: $40.08 Volume=300K Target=$38.55 Stop=$40.55
POSITION: RGS WH - Nov. $40p (-43 delta)
http://www.investmenthouse.com/ci/rgs.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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trade stock
stock recommendation
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