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Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AIRT; AMT; GRA; SBAC; SNDA
Monday night play results:
BEV: Still working on the handle to the nice base.
ENER: Nice volume but gave back much of the move.
WWCA: Still in the nice handle.
New plays for Wednesday:
Upside:
Play Date: 10/12/2004
HURC (Hurco Cos.--$15.20; +0.53; no options): Scientific and technical instruments
http://biz.yahoo.com/p/h/hurc.html
After Hours: $15.20
STATUS: Breakout test. HURC blasted out of a 16 week cup with handle base in late September, surging on strong volume. It is now making the first test of the breakout, sliding back to the 18 day EMA (13.54) intraday Tuesday and then rebounding on strong volume for a nice gain. Money flow is surging ahead of price and relative strength broke out on the original move, a good corroboration of the breakout as it shows the stock is moving better than the broader market. Looking to step in on a further rvolume move higher.
Volume: 293.401K Avg Volume: 99K
BUY POINT: $15.55 Volume=150K Target=$18.74 Stop=$14.46
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/hurc.html
Play Date: 10/12/2004
MFE (Network Associates--$20.50; -0.33; optionable): Security software
http://biz.yahoo.com/p/m/mfe.html
STATUS: Breakout test. Broke out in August from its 18 week base, then moved into a 5 week flat consolidation over the 18 day EMA (20.40). Volume faded as it moved laterally and then broke higher once again in early October on strong volume. It then started fading back this week in the selling. Tuesday it held the 18 day EMA on the close after trading below that level intraday. Volume jumped to back above average as it rebounded to hold that level. Looking for volume to continue higher as it makes a further rebound.
Volume: 1.765M Avg Volume: 1.596M
BUY POINT: $20.78 Volume=1.8M Target=$24.42 Stop=$20.32
POSITION: MFE AD - Jan. $20c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/mfe.html
Play Date: 10/12/2004
UPCS (Ubiquitel--$4.61; +0.15; no options): Telecom wireless
http://biz.yahoo.com/p/u/upcs.html
After Hours: $4.61
STATUS: Flat base. Volume has moved above average the past week as UPCS came off the bottom of its 24 week base. Accumulation in the pattern is an excellent 7 to 2, showing almost all buyers and setting up the breakout move. Relative strength has already broken out ahead of the stock, a very bullish move. Looking to pick up some positions on a solid volume move through the buy point.
Volume: 477.787K Avg Volume: 424K
BUY POINT: $4.72 Volume=600K Target=$5.89 Stop=$4.49
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/upcs.html
New buy point on current play:
Play Date: 09/30/2004
WIND (Wind River Systems--$12.70; -0.14; optionable): Business software
http://biz.yahoo.com/p/w/wind.html
After Hours: $12.96
STATUS: Breakout test. WIND blasted out of a 24 week double bottom with handle base to start the month. It is making its test of that move, sliding back to the 10 day EMA (12.60) Tuesday, rebounding to hold that level on the close, showing a nice doji. That typically means it is ready to resume the breakout move. Want to see volume jump as it does.
Volume: 355.044K Avg Volume: 670.272K
BUY POINT: New: $13.05 (orig. positions: $12.16) Volume=973K Target=$15.48 Stop=$12.45
POSITION: QWV BV - Feb. $12.50c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/wind.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
COH: Breaking below the 200 day SMA on rising volume.
JNPR: Tapped the 200 day SMA on the low and rebounded for a gain on rising, average volume.
QCOM: Nice lateral move along the 10 day EMA on low volume. Setting up for the next move higher.
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:
URBN: Moving laterally along the 10 day EMA on below average volume. Very tight range as it sets up for the next break higher.
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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