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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: AIRT; BYD; ENER; HURC; UPCS; WMGI
Tuesday night play results:
HURC: Strong volume as it continues the move off the 18 day EMA.
MFE: Still testing the 18 day EMA in the breakout test.
UPCS: Nice volume as it continues the breakout move.
WIND: Testing the breakout, holding the 18 day EMA.
New plays for Thursday:
Upside:
Play Date: 10/13/2004
ALDN (Aladdin Knowledge System--$24.20; -0.08; no options): Security software
http://biz.yahoo.com/p/a/aldn.html
STATUS: Double bottom w/handle. ALDN is moving laterally over the 10 day EMA (23.75) on low, below average volume as it sets up for the breakout from its 18 week base. It formed over the 200 day SMA (18.29), a good sign of institutional support. Excellent 5 to 1 accumulation (5 up price weeks on rising volume to 1 down price week on rising volume) in the base shows strong buying. It has been ignoring the rest of the market, forming its pattern as it has sold back the past week. Just being patient and waiting for the breakout move.
Volume: 134.204K Avg Volume: 304.909K
BUY POINT: $25.55 Volume=457K Target=$30.68 Stop=$23.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/aldn.html
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/cd/alvr.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/cd/cvns.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
BR: Gapped down and tested the 50 day EMA, holding it on the low.
EBAY: Gapped higher on the solid YHOO earnings.
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:
BCON: Moving in an 8 month cup base. It has started to come to life in September, rallying through the 200 day SMA (0.72) Tuesday on strong volume. Wednesday it tested back to that level on lower volume. Good price/volume action as it starts setting up the right side of the base.
PARL: Nice breakout from a 7 month base. In the recent selling it has started moving laterally as the 10 day EMA rises to meet it. That often sends it off on its next leg higher in the breakout.
ASVI: Trying to make a breakaway move from its 9 month cup with handle base. Volume has surged the past two weeks. A move over 40 could do it.
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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