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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 11/29/2004
HLEX (Healthextras--$16.02; +0.48; optionable): Insurance brokers
http://biz.yahoo.com/p/h/hlex.html
STATUS: Cup w/handle. HLEX exploded higher last Tuesday, breaking over some resistance at 15 on very strong trade. It eased laterally Wednesday and Thursday on low volume, and then started back up Monday on a return to above average volume. Nice 22 week base that formed using the 200 day SMA (13.38) as support, a key institutional support level. Excellent 11 to 3 accumulation in the pattern (11 up price weeks on rising volume to 3 down price weeks on rising volume) shows a lot of buying during the base, setting up the breakout and run higher. Money flow is surging higher ahead of price. ENCY seems eager to follow it.
Volume: 489.975K Avg Volume: 240.227K
BUY POINT: $16.38 Volume=350K Target=$19.72 Stop=$15.25
POSITION: HUE CC - Mar. $15c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/hlex.html
Play Date: 11/29/2004
INFY (Infosys Technologies--$70.30; +4.60; optionable): Global IT services
http://biz.yahoo.com/p/i/infy.html
STATUS: Flying plateau. After a 5 week lateral move that followed the August breakout from an 8 month cup with handle, INFY is surging again on strong volume. A market leader that took a breather after a move that preceded the general market rally in October. This is a stock that can fly when it gets the momentum, and it is getting the momentum back.
Volume: 1.581M Avg Volume: 743.363K
BUY POINT: $70.62 Volume=1M Target=$80 Stop=$67.55
POSITION: IUN DN - Apr. $70c (57 delta)
http://www.investmenthouse.com/ci/infy.html
Play Date: 11/29/2004
STGS (Stage Stores--$39.50; +0.94; optionable): Specialty department stores
http://biz.yahoo.com/p/s/stgs.html
STATUS: Cup w/handle. STGS is approaching a new all-time high (42), and it looks as if it is going to make a run toward it as volume surged Monday on the way to a breakout from its 28 week base. Positive accumulation in the base has set up the breakout. Not exciting, but it performed well in a tough session for retail.
Volume: 414.541K Avg Volume: 213.363K
BUY POINT: $39.78 Volume=320K Target=$47.25 Stop=$38.05
POSITION: QCU DH - Apr. $40c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/stgs.html
Play Date: 11/29/2004
SUNW (Sun Microsystems--$5.51; +0.25; optionable): Computer hardware
http://biz.yahoo.com/p/s/sunw.html
STATUS: Cup w/handle. One of the big names from the boom, SUNW is still working off a long, long base. It has come off of the lows and formed the current 9.5 month base sporting strong 9 to 5 accumulation. This pattern shows us accumulation and SUNW can give us a nice run on a breakout. It is not ready to return to market leadership, but it performed well on a tough day for large cap techs and can make us a nice gain on a continued breakout move.
Volume: 59.081M Avg Volume: 37.242M
BUY POINT: $5.62 Volume=40M Target=$6.75 Stop=$5.38
POSITION: SUQ DA - Apr. $5c (76 delta) &/or Stock
http://www.investmenthouse.com/ci/sunw.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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