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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AVO; COSI; OPWV
Monday night play results:
ECL: Fell through the 18 day EMA on volume. Still in range but taking a different character.
IWOV: Fell back on lower though still strong volume. Despite this it is still ready.
JNPR: Surged on volume into lunch but then fell back with the market selling. Still in the pattern.
VIP: Gapped lower and sold to the 50 day EMA on rising volume.
New Plays:
Play Date: 12/07/2004
IMAX (Imax--$8.35; -0.05; optionable): IMAX theaters
http://biz.yahoo.com/p/i/imax.html
STATUS: Cup w/handle. Nice lateral move the past two weeks on lower, below average volume, forming another nice handle to its 13 month base. Very nice 15 to 11 accumulation in the base (15 up price weeks on rising volume to 11 down price weeks on rising volume), showing net buying during the base. Solid money flow and very good accumulation the past month as volume rallied while IMAX rallied higher to form the right side of its base. Ignored the market selling Tuesday, continuing its business. That is a good indication it is going to make its own wake.
Volume: 410.72K Avg Volume: 567.409K
BUY POINT: $8.79 Volume=851K Target=$10.65 Stop=$8.17
POSITION: IMQ CU - Mar. $7.50c (76 delta) &/or Stock
http://www.investmenthouse.com/ci/imax.html
Play Date: 12/07/2004
MRVC (MRV Communications--$3.86; +0.25; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/m/mrvc.html
STATUS: Cup w/handle. Shook us out Monday as it tanked on rising volume, but was upgraded Tuesday and shot higher on strong trade. It could not hold all of the gain (well, most of it), but the move puts it back in the handle to the 11 month base. Accumulation is a strong 14 to 8, and money flow remains very strong, still surging higher ahead of price. A bit volatile here but again, holding a pattern with a lot of good attributes. Looking for a strong volume move higher that holds the gains into the close.
Volume: 4.646M Avg Volume: 1.034M
BUY POINT: $3.98 Volume=1.6M Target=$4.98 Stop=$3.78
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/mrvc.html
Play Date: 12/07/2004
SMDI (Sirenza Microdevices--$5.69; +0.63; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/s/smdi.html
STATUS: Cup. Volume has surged the past two weeks as SMDI starts higher to form the right side of its 11 month base. Excellent 12 to 4 accumulation shows net buying during the consolidation, and it will only get better as it continues the move up the right side of the base. Surging money flow is leading the way higher. This one is a bit more aggressive, but this is a very nice base that has formed off the bottom of its very long, post-boom decline.
Volume: 1.384M Avg Volume: 130.243K
BUY POINT: $5.85 Volume=250K Target=$7.35 Stop=$5.44
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/smdi.html
Play Date: 12/07/2004
TUES (Tuesday Morning--$36; +0.61; optionable): Discount variety stores
http://biz.yahoo.com/p/t/tues.html
STATUS: Ascending base. Volume was up Tuesday as TUES (har har) started its breakout move from its 8.5 month base. This is the tail end of a longer 16 month pattern; the stock is a now rested and has the sellers cleared out. Strong money flow is leading the way higher, leading TUES to a new all-time high. We like all-time highs as that means no overhead supply, no disgruntled shareholders ready to sell (they are all happy; another new high, yeehah.). Solid move in a market that was selling. One of those stocks ignoring the other 75% or more.
Volume: 432.728K Avg Volume: 268.318K
BUY POINT: $36.25 Volume=402K Target=$43 Stop=$34.75
POSITION: UUG CG - Mar. $35c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/tues.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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