us stock market, stock recommendation

Begin part 3 of 3

THE PLAYS

Good movers Wednesday: BYD; ENER; JUPM; MRVL; SNDA; UPCS

Tuesday night play results:
PLMD: Gapped higher on volume but could not hold the move.
ROP: Still in a nice pullback to test the breakout.
UPCS: Nice volume on a break higher.
VLO: Big reach below the 18 day EMA but then rebounded to hold that level.
MSCC: Started to break higher but did not have the volume to resume the breakout move.

New Plays:

Upside:

Play Date: 10/13/2004
ALVR (Alvarion--$14.98; +1.47; optionable): Telecom equipment
http://biz.yahoo.com/p/a/alvr.html
After Hours: $14.86
STATUS: Double bottom w/handle. Making a high volume breakout from its 30 week base, showing excellent action in a market that reversed its course intraday. Strong 8 to 4 volume in the base sets a strong foundation for a breakout run, showing 2 to 1 buyers accumulating shares. Very nice base and a solid breakaway move. Looking to start positions on a continuation of this move and then on a successful test we will add more positions.
Volume: 3.987M Avg Volume: 650.818K
BUY POINT: $15.12 Volume=750K Target=$18.15 Stop=$14.25
POSITION: QBY CC - Mar. $15c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/alvr.html

Play Date: 10/13/2004
AMED (Amedisys--$30.28; -0.10; optionable): Home Health Care
http://biz.yahoo.com/p/a/amed.html
After Hours: $30.37
STATUS: Double bottom w/handle. Volume is drying up as AMED moves laterally and slightly lower along the 10 day EMA (30.20) in its 14 week base. Outstanding 6 to 1 accumulation shows almost all buyers in the base that is setting up to launch AMED to an all-time high. Solid money flow to match.
Volume: 211.019K Avg Volume: 355.363K
BUY POINT: $31.06 Volume=533K Target=$36 Stop=$29.98
POSITION: CQE CF - Mar. $30c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/amed.html

Play Date: 10/13/2004
CMTL (Comtech Telecom--$27.02; -0.25; optionable): Telecom equipment
http://biz.yahoo.com/p/c/cmtl.html
After Hours: $27
STATUS: Double bottom w/handle. A very nice, low volume handle is forming over the 18 day EMA (26.16) as it sets up for the breakout from its 9 month base. Excellent price/volume action in that volume dried up July to early September and then surged as CMTL rallied to form the right side of the pattern. It is now shaking out the last sellers in this handle as it eases back on low volume. Money flow is screaming higher ahead or price even as it pulls back. Looks ready to make the breakout move.
Volume: 186.751K Avg Volume: 269.545K
BUY POINT: $28.12 Volume=404K Target=$34 Stop=$27.05
POSITION: CQH AE - Jan. $25c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/cmtl.html

Play Date: 10/13/2004
CVNS (Covansys--$11.99; +0.19; no options): ITS software
http://biz.yahoo.com/p/c/cvns.html
STATUS: Cup w/handle. CVNS is working on a two week handle to its 23 week pattern sporting strong 6 to 2 accumulation. Money flow is surging ahead of price even as it works laterally over the 18 day EMA (11.51) on very low volume. Lots of upside room here to breakout and give us a good gain without even having to take out the April high where the base started.
Volume: 62.434K Avg Volume: 94.909K
BUY POINT: $12.12 Volume=142K Target=$14.75 Stop=$11.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/cvns.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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