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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: GYI; SVU
Monday night play results:
JNPR: Surged on volume into lunch but then fell back with the market selling. Still in the pattern.
ORCL: Gave back the Monday move on lower volume, holding the 10 day EMA on the close. Will have to reload and try again.
SVU: Solid volume move higher.
ORB: Slid back to the 18 day EMA on rising but still below average volume.
New Plays:
Upside:
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/cd/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/cd/mrvc.html
Play Date: 12/07/2004
RNWK (Realnetworks--$7.05; +0.04; optionable): Internet software and services
http://biz.yahoo.com/p/r/rnwk.html
STATUS: Cup w/handle. Volume was up Tuesday, moving well above average as RNWK tried the breakout from its 5.5 month bases sporting strong 7 to 2 accumulation (7 up price weeks on rising volume to 2 down price weeks on rising volume). That shows a lot of buyers as the stock consolidated and then started to rally, forming the right of the base. This is part of a larger 19 month base. This last portion looks solid, and this looks to be the move that will break it higher. Strong accumulation and money flow is surging higher ahead of price. Looks ready to follow it higher.
Volume: 1.84M Avg Volume: 1.155M
BUY POINT: $7.27 Volume=1.7M Target=$9.05 Stop=$6.76
POSITION: QRN BU - Feb. $7.50c (45 delta) &/or Stock
http://www.investmenthouse.com/cd/rnwk.html
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
HDWR: Diving lower on strong volume. Some support at 28, but heading lower fast.
QCOM: Forming a handle to the base. Want it to hold 42 and then rebound on strong volume. A break over 44 is our entry point.
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:
LMIA: Exploded higher in mid-November on tremendous trade. Rallied to 8 and has eased back to the 18 day EMA (5.56) on lower, below average volume. Holding there and moving laterally on low trade, showing those dojis. Looking for it to take a bit longer to move laterally and then rebound on volume.
ADBL; Working laterally along the 10 day EMA the past week on low volume. This move follows a breakout in September and a run up the short term MA. Might be a bit extended here.
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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