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trade stock, stock recommendation
Begin part 2 of 2
Took awhile to sort through the rubble of Tuesday.
THE PLAYS
Good movers Tuesday: CAND; ENWV; NOVN; NXTP; RAE; SAPE
NEW PLAYS:
Upside:
Play Date: 10/19/2004
VION (Vion Pharma--$4.65; -0.08; no options): Biotechnology
http://biz.yahoo.com/p/v/vion.html
STATUS: Cup w/handle. Kind of a double bottom as well, but either way, a nice base. After a strong volume move Friday, VION has weathered the rather weak trade this week by pulling back a hair on slightly lower volume. A solid 23 week base sporting outstanding 8 to 2 accumulation (8 up price weeks on rising volume to 2 down price weeks on rising volume) has set the stage for a breakout. Formed using the 200 day SMA (3.68) on the lows as support, a good sign of big money support. Looking for volume to surge as it climbs through the buy point.
Volume: 631.092K Avg Volume: 473.409K
BUY POINT: $4.85 Volume=700K Target=$6 Stop=$4.51
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/vion.html
CONTINUING PLAYS:
Upside:
Play Date: 10/07/2004
CHT (Chunghwa Telecom--$18.04; +0.15; optionable): Wireless telecom
http://biz.yahoo.com/p/c/cht.html
STATUS: Test breakout. Showing some life at the 18 day EMA on the breakout test with volume rising and a nice price surge intraday. It gave back most of the move but still held the some gain. It broke out from a 24 week double bottom but not with a lot of volume. that kicked in last week as it moved toward 19. it has eased back on lower trade with volume swelling the past four sessions and breaking above average Tuesday. Relative strength is ready to make the breakout, a good indication of a move to come.
Volume: 216.5K Avg Volume: 195.045K
BUY POINT: $18.14 Volume=306K Target=$22 Stop=$17.66
POSITION: CHT CW - Mar. $17.50c (76 delta) &/or Stock
http://www.investmenthouse.com/ct/cht.html
Play Date: 10/09/2004
VNT (Compania Anomina Nac Telecom--$22.55; 0; optionable): Foreign telecom
http://biz.yahoo.com/p/v/vnt.html
STATUS: Breakout test. Still in the low volume test of the nice breakout to end September where VNT broke out on nice volume from a 6 month ascending triangle. Strong money flow and relative strength as it makes this pullback. Being patient and waiting for the volume surge as it moves through the buy point.
Volume: 45.8K Avg Volume: 202.227K
BUY POINT: $23.12 Volume=298K Target=$27 Stop=$22.42
POSITION: VNT AX - Jan. $22.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/vnt.html
CONTINUING PLAY TABLE:
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ARBA 10/11 Cup 10.25 -0.23 10.78 13.45 556K 835K 10.32
Buy Not Issued.
ASKJ 10/14 DB hdl 35.43 +0.33 36.25 42.88 5.6M 6M 33.97
Entered today.
AVID 10/13 DB hdl 47.5 -0.32 49.45 54.55 473K 744K 48.12
Buy Not Hit.
AXP 10/16 DB hdl 52.17 -0.53 53.55 60 3M 4.9M 51.12
Buy Not Hit.
BABY 10/07 Test BO 7.41 -0.12 7.38 9 116K 450K 7.18
Current.
BSTE 10/16 Test 50 50.02 -0.26 50.38 56.65 160K 460K 47.97
Current.
CAND 10/09 Test BO 4.4 +0.3 4.48 5.47 150K 275K 4.25
Current.
CDIS 10/16 Test BO 35.48 -0.39 36.58 42.65 147K 640K 35.55
Buy Not Issued.
CHT 10/07 DB hdl 18.04 +0.15 18.14 22 216K 306K 17.66
Buy Not Issued.
CMTL 10/13 DB hdl 26.63 -0.85 28.12 34 271K 404K 27.05
Buy Not Issued.
CRXL 09/29 Pennant 9.1 +0.01 8.42 10.09 253K 175K 8.44
Current.
EENC 10/11 BO 16.41 -0.4 16.34 19.58 371K 212K 15.97
Current.
EMR 10/02 Cup 62.01 -1.04 64.34 74 1.1M 1.9M 63.15
Buy Not Hit.
ENWV 10/05 Test BO 16 +0.44 13.69 16.68 446K 300K 14.38
Current.
FDS 10/06 Cup hdl 49.04 -0.24 50.78 58 145K 335K 49.05
Current.
HMX 10/18 Cup 7.68 -0.32 8.09 9.75 223K 150K 7.52
Buy Not Issued.
HRS 09/27 Test BO 58.62 +0.14 54.88 60 829K 600K 56.97
Current.
JUPM 09/29 BO 19.3 +0.05 19.79 23.42 1.2M 550K 18.98
Current.
KMRT 08/18 Dbl btm 89.03 -1.99 80.22 92 1.7M 3.6M 88.72
Current.
KOOL 10/02 Cup 4.96 -0.09 5.11 6.49 150K 200K 4.89
Buy Not Hit.
LEH 10/13 DB hdl 78.64 -1.54 82.12 90 2.6M 3.2M 80.32
Buy Not Hit.
MVSN 10/05 Asc Bse 25.46 +0.11 25.65 29.95 512K 677K 24.68
Current.
NOVN 10/18 Cup 23.55 +0.48 23.67 28.28 389K 200K 22.24
Entered today.
NXTP 10/05 Test BO 17.3 +0.43 16.86 15.55 2.6M 2M 15.97
Current.
PLMD 10/12 BO 32.84 +0.1 32.84 37.78 191K 250K 31.96
Current.
PLT 10/18 Test BO 46.46 +0.2 46.72 53.75 668K 500K 45.45
Buy Not Issued.
PRAA 10/16 Cup hdl 32.68 -0.94 33.89 40 200K 188K 32.09
Buy Not Issued.
QCOM 09/02 FlyPlat 42.8 -0.8 38.82 45 16M 11M 40.55
Current.
RAE 10/14 Asc Tri 6.69 +0.64 6.43 7.75 1.7M 524K 6.08
Entered today.
RSTI 10/16 Cup hdl 29.83 -0.07 31.02 37.75 66K 200K 29.78
Buy Not Hit.
SAPE 10/04 Test 50 9.06 +0.26 8.61 10.35 2.8M 1.6M 8.46
Current.
SGMS 10/06 Cup hdl 19.09 -0.36 20.12 24 242K 650K 19.05
Buy Not Hit.
SNDA 10/11 Test BO 28.65 -0.6 31.32 36.85 1.3M 1.2M 31.78
Current.
SYNA 10/02 DB hdl 24.93 +0.4 22.89 27 486K 702K 23.88
Current.
TIBX 09/29 DB hdl 9.19 +0.05 8.85 10.65 3.3M 3.5M 8.67
Current.
TZOO 10/11 Test 18 54.03 -4.97 62.82 80 1.3M 2.9M 59.38
Current.
VNT 10/09 Test BO 22.55 0 23.12 27 46K 298K 22.42
Buy Not Issued.
VRNT 10/19 Test BO 37.75 +0.94 37.63 42.66 101K 135K 36.12
Entered today.
VTIV 10/18 DB hdl 16.94 -1.01 18.12 21.75 557K 357K 16.98
Buy Not Issued.
WITS 09/25 Test BO 17.17 +0.09 16.94 19.87 254K 543K 15.94
Current.
YHOO 10/01 Cup hdl 34.64 -0.66 34.85 41 22M 30M 33.88
Current.
YHOO 09/02 Cup 34.64 -0.66 32.48 36 22M 25M 33.88
Current.
YUM 10/12 Test BO 43.26 +0.15 42.89 48 2M 1.2M 41.62
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
CGNX 09/30 Put 24.1 -0.64 26.55 23.88 2M 750K 24.92
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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