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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Monday: JLG; KRY; MRVC; PER; QTWW; ZQK
Weekend play results:
BCR: Still testing the move.
BDX: Slipping below the 50 day MA
DUSA: Still setting up for the breakout.
HTCH: volume was up as the handle continued to form.
NCR: Nice doji at the 10 day EMA.
QTWW: Started higher on volume.
New Plays:
Upside:
Play Date: 10/25/2004
ADI (Analog Devices--$39.04; +0.42; optionable): Semiconductors
http://biz.yahoo.com/p/a/adi.html
STATUS: Test 50 day EMA. ADI surged on volume last Thursday, moving back through the 50 day EMA (38.35) as it continues to build off of the low it set in August. As with SOX overall, ADI has moved laterally the past six weeks and is trying to make a higher low over the 50 day to launch it on the next rally. Looking for that volume to return as it starts back up and moves through the buy point. Strong money flow is leading the way.
Earnings: 11-23
Volume: 3.724M Avg Volume: 4.858M
BUY POINT: $40.15 Volume=6.5M Target=$46 Stop=$39.44
POSITION: ADI AH - Jan. $40c (44 delta) &/or Stock
http://www.investmenthouse.com/ci/adi.html
Play Date: 10/25/2004
ARTC (Arthrocare--$29.98; +0.48; optionable): Medical appliances
http://biz.yahoo.com/p/a/artc.html
STATUS: Breakout test. Volume exploded higher last Wednesday as ARTC surged out of a 16 week cup with handle base. In the subsequent market selling it eased back on lower volume, tapping at the 10 day EMA (28.98) on the Monday low and then rebounding to post a gain. Strong 5 to 2 accumulation in the base (5 up price weeks on rising volume to 2 down price weeks on rising volume) shows net buyers, setting the foundation for a breakout and run higher. Money flow is strong and relative strength broke out and is ready to move higher again, a bullish indication for the stock.
Earnings: Announced 10-19
Volume: 385.227K Avg Volume: 402.772K
BUY POINT: $30.32 Volume=550K Target=$35 Stop=$28.87
POSITION: ARU CF - Mar. $30c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/artc.html
Play Date: 10/25/2004
IVAN (Ivanhoe Energy--$2.57; +0.01; no options): Oil and gas exploration
http://biz.yahoo.com/p/i/ivan.html
STATUS: Test breakout. A breakout of sorts over the 200 day SMA (2.30) two weeks back is being tested. IVAN has come back to the 10 day EMA (2.56) and is moving laterally in a very tight range on very low volume. This part of a 13 month base and IVAN is just now starting to move up off the bottom of the pattern. Already solid 13 to 7 accumulation in the base, very solid for this early stage. Money flow is rallying sharply ahead of price and we are looking for IVAN to follow it shortly.
Earnings: November 10
Volume: 1.3M Avg Volume: 2.732M
BUY POINT: $2.76 Volume=4.1M Target=$4 Stop=$2.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ivan.html
Play Date: 10/25/2004
KEY (Keycorp--$32.73; +0.46; optionable): Banks
http://biz.yahoo.com/p/k/key.html
STATUS: Double bottom w/handle. A nice 8 month pattern has formed, and volume is surging as KEY continues a breakout move. KEY reported earnings on 10-14 and broke out from its base that session, In the market weakness it came back to test the move, tapping at the 18 day EMA (32.04) on the session lows. Monday it did just that again and then rebounded for a solid gain on excellent volume. A very nice base sporting solid 7 to 5 accumulation and surging money flow. Relative strength broke out on the breakout move, a good corroboration of the move higher. Looking to pick up positions as it continues the move.
Earnings: Announced 10-14
Volume: 1.552M Avg Volume: 1.016M
BUY POINT: $33.04 Volume=1.5M Target=$37.55 Stop=$31.98
POSITION: KEY CZ - Mar. $32.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/key.html
Play Date: 10/25/2004
XLNX (Xilinx--$29.20; +0.44; optionable): Semiconductors
http://biz.yahoo.com/p/x/xlnx.html
STATUS: Trend gap reversal. XLNX has trended lower since January, but last Thursday gapped through the down trendline on strong volume. In the ensuing market selling it tested back, tapping the down trendline on the Monday low (28.53) and then rebounding. We are looking to pick up shares after this test of the break over the trendline, looking for volume to surge back in as it does. Another one of the semiconductors showing a solid building pattern that can make us some nice money. Looking primarily at options to give us better leverage.
Earnings: Announced October 21.
Volume: 6.663M Avg Volume: 7.126M
BUY POINT: $29.78 Volume=10M Target=$34 Stop=$28.32
POSITION: XLQ AY - Jan. $27.50c (77 delta) or XLQ AF - Jan. $30c (43 delta)
http://www.investmenthouse.com/ci/xlnx.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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us stock market
stock recommendation
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