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Begin part 3 of 3
THE PLAYS
Good movers Tuesday: FSL; IMGN; OPTV; ORB
Monday night play results:
ENCY: Tried to make the run on volume, but was fading into the close.
KLAC: Went the wrong way, toward the 200 day SMA on rising volume.
SUNW: Was fading as well toward the close.
EPIC: Nice break higher and then a fade to give it all back.
HAE: Big volume but could not go anywhere.
New Plays:
Upside:
Play Date: 11/30/2004
CMTL (Comtech Telecom--$31.48; +1.36; optionable): Telecom equipment.
http://biz.yahoo.com/p/c/cmtl.html
STATUS: Double bottom w/handle. Taking another look at CMTL as it has formed a double handle to its 11 month base. Strong 10 to 6 accumulation shows solid buying, and volume surged Tuesday as it started the breakout move. Very nice pattern with money flow surging ahead, clearing the way.
Volume: 447.438K Avg Volume: 267.921K
BUY POINT: $31.68 Volume=402K Target=$37.85 Stop=$29.65
POSITION: CQH DF - Apr. $30c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/cmtl.html
Play Date: 11/30/2004
SLR (Solectron--$6.25; +0.21; optionable): Printed circuit boards
http://biz.yahoo.com/p/s/slr.html
STATUS: Double bottom w/handle. SLR surged higher two weeks back, but that was a head fake. It came back with the market selling to test the 18 day EMA (5.84) and then bounced back. Volume jumped the past two sessions, as it cleared the highs from two weeks back. Solid 7 to 4 accumulation in the pattern shows net buyers and has set the foundation for the breakout and run. Money flow is surging higher ahead of price, leading the way.
Volume: 8.337M Avg Volume: 4.377M
BUY POINT: $6.32 Volume=550K Target=$7.62 Stop=$5.92
POSITION: SLR DA - Apr. $5c (93 delta) &/or Stock
http://www.investmenthouse.com/cd/slr.html
Play Date: 11/30/2004
TEN (Tenneco Automotive--$15.50; +0.50; optionable): Auto parts
http://biz.yahoo.com/p/t/ten.html
STATUS: Flat base. Volume was surging Tuesday as TEN made the breakout move from its 10 month base that formed mostly along the 50 day EMA (13.62), an important support level. Strong 9 to 4 accumulation in the pattern shows net buyers and is setting the foundation for the breakout. Money flow is moving higher ahead of price and relative strength is ready to breakout, a good corroboration of the breakout move. Looking for a continued move on solid, above average volume.
Volume: 744.4K Avg Volume: 348.318K
BUY POINT: $15.65 Volume=500K Target=$18.85 Stop=$14.75
POSITION: TEN DC - Apr. $15c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/ten.html
Current plays that look ready to move:
ORB
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
QCOM: Working laterally over the 50 day EMA on low volume. Want to see it move laterally a bit longer then rally on stronger trade.
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:
CNMD: Has set up a nice reverse head and shoulders base the past 8 months.
ROXI: Broke higher in October and has made four bounces off the 10 day EMA. Needs to form a better consolidation here for a handle.
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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