|
|
stock recommendation, stock pick
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: AAPL; AKAM; AHC; DO; EBAY; GLDN; GW; MRVL; OPTV; OS; TWTI; VRSN
Wednesday play results:
AKAM: Solid volume as it continues higher.
COST: Big doji over the 10 day EMA as volume rises.
NXTP: Still forming a nice handle.
RECN: Gapped higher but lower volume and could not hold the move.
New Plays:
Upside:
Play Date: 10/06/2004
^SOX (Philly Semiconductor Index--$406.2; +1.62; optionable)
http://biz.yahoo.com/p/^/^sox.html
STATUS: 50 day EMA test. After making a higher low to close out September, SOX surged through the 50 day EMA (395) last Friday. It has tapped at some support at 400 the last two sessions, rebounding on the close. Chips were one of the leaders up off the recent lows, and after this breather it will be ready for the next leg higher.
BUY POINT: $408.78 Target=$445 Stop=$404.55
POSITION: SXX KB - Nov. $410c (46 delta)
http://www.investmenthouse.com/ci/^sox.html
Play Date: 10/06/2004
JNPR (Juniper Networks--$25.89; +0.85; optionable): PC networking
http://biz.yahoo.com/p/j/jnpr.html
After Hours: $25.80
STATUS: Double bottom w/handle. JNPR is one of the early earnings announcers, and in the past it has set up nice patterns and then used earnings to explode higher. At least that is what it was doing until the market peaked in January. It has once again set up, having formed the 9 month base during the entire market base. Volume has started to pick up the past two weeks as it came off the handle low at the 50 day EMA (23.58), rallying to the September high (the handle high) on Wednesday with some solid trade. Looking for a breakout over that handle high on some continued strong volume.
Volume: 12.358M Avg Volume: 9.879M
BUY POINT: $26.15 Volume=15M Target=$30 Stop=$25.12
POSITION: JUX AE - Jan. $25c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/jnpr.html
Play Date: 10/06/2004
PTEN (Patterson-Uti Energy--$20.07; +0.77; optionable): Oil and gas exploration
http://biz.yahoo.com/p/p/pten.html
After Hours: $20.07
STATUS: Double bottom w/handle breakout. Volume jumped Wednesday as PTEN broke out from its 22 week base sporting solid 7 to 3 accumulation, showing net buyers during the base. The base formed around the 200 day SMA (17.24), an important institutional support level. It is moving to an all-time high on this breakout where there is no resistance overhead.
Volume: 3.569M Avg Volume: 2.032M
BUY POINT: $20.21 Volume=2M Target=$24 Stop=$18.98
POSITION: NZQ AD - Jan. $20c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/pten.html
Play Date: 10/06/2004
SGMS (Scientific Games--$19.88; +1.22; optionable): PC hardware
http://biz.yahoo.com/p/s/sgms.html
After Hours: $19.88
STATUS: Double bottom w/handle. Volume is surging as SGMS makes the breakout from its 6 month base. A classic pattern with the August low, the second low in the base, undercutting the May low. It used the 18 day EMA (18.75) as support for the handle as volume dried up. Just the action you want to see in the handle. Solid volume breakout and looking to move in as it continues the move higher.
Volume: 974.195K Avg Volume: 553.227K
BUY POINT: $20.12 Volume=650K Target=$24 Stop=$19.05
POSITION: TUJ AD - Jan. $20c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/sgms.html
Play Date: 10/06/2004
ZQK (Quicksilver--$26.70; +0.83; optionable): Youth apparel
http://biz.yahoo.com/p/z/zqk.html
After Hours: $26.72
STATUS: Flying plateau. ZQK started the next move higher Wednesday as volume jumped back above average. It is making the move out of a 4 week plateau that formed after the breakout from a 12 week reverse head and shoulders pattern. Solid 3 to 1 accumulation shows net buyers, and money flow is pointing the way. Looking to move in on a further volume rise from heres.
Volume: 771.8K Avg Volume: 523.318K
BUY POINT: $26.95 Volume=525K Target=$32 Stop=$25.74
POSITION: ZQK BE - Feb. $25c (72 delta) &/or Stock
http://www.investmenthouse.com/ci/zqk.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.
|
stock recommendation
stock pick
|
