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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers Monday: APCS; CLF; COSI; DHB; ENER; FLR; HAE; MSCC; MTX; RMBS
Weekend play results:
CVNS: Still looks nice, bounding as volume edged higher.
FRGO: Very nice doji at the 10 day EMA.
HIBB: Gapped higher but volume was a bit light.
MONE: Still a nice handle forming.
TLM: Strong volume as it starts to move higher.
MRVC: Nice doji at the 10 day EMA.
NTGR: Volume was up as it starts higher. Getting ready.
New Plays:
Upside:
Play Date: 11/22/2004
CME (Chicago Merchantile Exchange--$202.67; +1.65; optionable): Commodities exchange
http://biz.yahoo.com/p/c/cme.html
STATUS: Test breakout. CME has made us some great money, and it looks to be ready to make another blast higher. It is making the second test of its 10 and 18 day EMA (193.32) after breaking out from a 10 week cup with handle base in September. Strong stocks can make 4 to 5 bounces up off the short term MA before needing another deeper test. Volume jumped back toward average as it tested lower and rebounded to post a gain and close over the 10 day EMA.
Volume: 692.8K Avg Volume: 657K
BUY POINT: $204.88 Volume=950K Target=$224.89 Stop=$198.45
POSITION: CMJ CB - Mar. $210c (43 delta)
http://www.investmenthouse.com/ci/cme.html
Play Date: 11/22/2004
ELGX (Endologix--$7.00; 0.00; no options): Medical instruments
http://biz.yahoo.com/p/e/elgx.html
STATUS: Breakout test. A nice pullback to test the 18 day EMA (6.83) after breaking out from a 9 month cup with handle base. Strong 10 to 4 accumulation shows strong net buying during the base, setting up the breakout move and run. Strong money flow has led the move higher. The pullback was on lower volume, showing few sellers, but it jumped the past two sessions on rising, above average volume as ELGX tests the 18 day EMA and rebounds. Looks ready to continue the breakout move.
Volume: 298.71K Avg Volume: 156.227K
BUY POINT: $7.34 Volume=250K Target=$8.88 Stop=$6.87
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/elgx.html
Play Date: 11/22/2004
IDNX (Identix--$7.97; +0.36; optionable): Business software
http://biz.yahoo.com/p/i/idnx.html
STATUS: Reverse head and shoulders. Volume jumped Monday as IDNX started off the 18 day EMA (7.49), getting ready to make the breakout from its 7.5 month base. IDNX is in a long 4 year base, but this pattern often forms as a stock comes off of the bottom of the base. Strong 9 to 4 accumulation suggests it is ready to move as it shows strong buying during the base. Money flow is excellent, leading higher as the stock finished the base. Ready for the breakout.
Volume: 3.044M Avg Volume: 1.084M
BUY POINT: $8.11 Volume=1.5M Target=$9.95 Stop=$7.57
POSITION: IDX CU - Mar. $7.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/idnx.html
Play Date: 11/22/2004
MRCY (Mercury Computer Systems--$31.48; +1.58; optionable): Telecom equipment
http://biz.yahoo.com/p/m/mrcy.html
STATUS: Cup w/handle. Volume has started higher as MRCY starts the breakout move from its nicely formed 10 month base. Strong 12 to 6 accumulation in the pattern shows net buying as it formed over the 200 day SMA (25.59), an important institutional support level. Money flow is surging higher as well as it starts the breakout. Nice move and looks ready to continue it.
Volume: 324.29K Avg Volume: 181.636K
BUY POINT: $31.75 Volume=275K Target=$38 Stop=$30.05
POSITION: QYR BF - Feb. $30c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/mrcy.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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stock recommendation
stock option
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