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stock ticker, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Monday: AMT; APCS; SNDA; WMGI
Weekend play results:
CRZO: Tried to continue the move but faded on lower volume. Still solid.
DRIV: Up off the 18 day EMA, just looking for more volume to continue.
KRY: Tested the Friday move on lower volume.
VWPT: Very nice lateral handle continues to form.
New plays for Tuesday:
Upside:
Play Date: 10/11/2004
BEV (Beverly Enterprises--$8.06; +0.13; optionable): Long-term care facilities
http://biz.yahoo.com/p/b/bev.html
STATUS: Cup w/handle. BEV is working on the handle to its 17 week base. After surging to end September and to start October, BEV has started a lateral, lower volume move where it shakes out the last sellers. Outstanding 6 to 1 accumulation in the base shows lots of buyers moving in as the stock consolidates. Excellent money flow is still rallying higher ahead of price as the stock makes the lateral move. May take a session or two more to complete the handle, but we want to be ready for the breakout move.
Earnings: Nov. 9
Volume: 476.6K Avg Volume: 702.272K
BUY POINT: $8.29 Volume=1.1M Target=$10 Stop=$7.79
POSITION: BEV AU - Jan. $7.50c (68 delta) &/or Stock
http://www.investmenthouse.com/cd/bev.html
Play Date: 10/11/2004
ENER (Energy Conversion Devices--$15.82; +1.33; optionable): Thin-film solar cell products
http://biz.yahoo.com/p/e/ener.html
After Hours: $15.85
STATUS: Cup w/handle breakout. Volume surged Monday as ENER broke out from a 13 month base sporting solid 13 to 9 accumulation. Looking to pick up some positions on a continued move higher and then more on the first test of the move. Right stock at the right time.
Volume: 490.682K Avg Volume: 115.636K
BUY POINT: $15.97 Volume=200K Target=$19 Stop=$14.97
POSITION: EQI CC - Mar. $15c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/ener.html
Play Date: 10/11/2004
WWCA (Western Wireless--$27.70; +0.24; optionable): Wireless telecom
http://biz.yahoo.com/p/w/wwca.html
After Hours: $27.73
STATUS: Cup w/handle. Very nice handle is forming to this shapely 17 week base. Strong 6 to 3 accumulation in the base shows solid buying as the stock consolidates. The base formed using the 200 day SMA (24.90), an important institutional support level; when it holds and a stock continues forming its base that is a bullish sign. Very nice base. Just waiting for volume to surge as it continues its move higher through the buy point.
Earnings: Early November.
Volume: 660.207K Avg Volume: 909.136K
BUY POINT: $28.06 Volume=1.4M Target=$32.48 Stop=$26.88
POSITION: WRQ BE - Feb. $25c (77 delta) &/or Stock
http://www.investmenthouse.com/cd/wwca.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
BR, COH, EASI, EBAY, GTRC, HDWR, JNPR, MSFT, QCOM
EBAY: One of the big names that started moving higher Monday, bouncing up off of the 18 day EMA. Volume was low on the move.
GTRC: Forming the right shoulder to a reverse head and shoulders base formed the past 15 weeks. Volume was up as it tapped the 50 day EMA on the low and rebounded for a gain.
SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.
Upside:
CREE: One of the early breakouts in the tech sector during the August to September rally. It peaked to start the month and faded back to the 18 day EMA, undercutting it Friday. It started back Monday; volume could have been better, however.
SYMC: Another leader in the last move higher. Peaked to start the month and faded back to the 18 day EMA (54.34). Heavy volume Friday, but it managed to close at the 18 day. Started up off of that level Monday but volume was not there. Looking for more volume as the rebound continues.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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stock ticker
stock recommendation
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