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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: DGX; CYTC; FLR; OPTN
Tuesday night play results:
IMAX: Another lateral move on low volume. Still working on the handle and still ignoring the rest of the market.
MRVC: Not sure about this action. Not bad but has to get a lot better.
SMDI: Gapped higher out of the gate but gave it all back.
TUES: Stalling right at the breakout point but still looking solid.
New Plays:
Play Date: 12/08/2004
BIIB (Biogen Idec--$64.53; +3.06; optionable): Biotechnology
http://biz.yahoo.com/p/b/biib.html
After Hours: $64.34
STATUS: Flat base. We watched BIIB form up the past several weeks and then watched it start to breakout Wednesday. Solid volume, clean break. Excellent 11 to 5 accumulation in the pattern (11 up price weeks on rising volume to 5 down price weeks on rising volume) shows buyers accumulating the stock during the consolidation, setting up the breakout and run. Wednesday it made the break higher. Now Strong money flow is leading. Ready to step in on a further move. It backed off a hair after hours; will look for a test of 64 & pick it up off that level.
Volume: 8.252M Avg Volume: 3.497M
BUY POINT: From the close: $65.12; Test 64, then 64.65 Volume=4.5M Target=$75 Stop=$63.44
POSITION: IHD DM - Apr. $65c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/biib.html
Play Date: 12/08/2004
ISSC (Innovative Solutions--$30.82; -0.09; no options): Business software
http://biz.yahoo.com/p/i/issc.html
STATUS: Breakout test. ISSC surged out of a 12 week cup base in late November, rallying to 33 on the solid volume break higher. It has pulled back in the current market uncertainty, easing back on lower, average volume. Wednesday it reached well below the 18 day EMA (29.51) and then rebounded to recoup most of the loss. Solid 5 to 2 accumulation in the base shows net buyers, evidenced by the breakout. Now looking for the rebound on volume; it started Tuesday with the reach lower and rebound on a shot of stronger volume. Strong money flow is leading the way. Looking for continued volume as it continues higher.
Volume: 446.337K Avg Volume: 296.727K
BUY POINT: $32.05 Volume=445K Target=$38.48 Stop=$30.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/issc.html
Play Date: 12/08/2004
NGEN (Nanogen--$6.18; +0.09; optionable): Biotechnology
http://biz.yahoo.com/p/n/ngen.html
After Hours: $6.03
STATUS: Test 200 day SMA. NGEN is coming off the bottom of a 12 month base. It has made its first bounce off the bottom, breaking through the 200 day SMA (5.57) on outstanding trade. During the recent selling it has eased back to test the 200 day on lower volume, tapping at that level Wednesday and then rebounding for a gain. Accumulation in the long base is an excellent 10 to 5, very good for a stock just starting to move up the right side of the base. Money flow is in the clouds, leading higher. After this pullback to test the first move it is ready to continue, and we want to step in on a further rebound as volume starts to ramp back up.
Volume: 2.437M Avg Volume: 1.287M
BUY POINT: $6.48 Volume=2.6M Target=$7.98 Stop=$6.03
POSITION: QEM CA - Mar. $5c (77 delta) &/or Stock
http://www.investmenthouse.com/ci/ngen.html
Play Date: 12/08/2004
QCOM (Qualcomm--$43.60; +0.74; optionable): Telecom equipment
http://biz.yahoo.com/p/q/qcom.html
After Hours: $43.37
STATUS: Cup w/handle. QCOM split in August, and that acted as a catalyst to break it higher. It needed a breather and the current 7 week base has given it what it needed. Classic action as volume dried up at the bottom of the pattern and then surged back as the stock rallied up to form the right side of the pattern. Backed off in the handle as QCOM eased back to test the 10 day EMA (42.65) as support for the handle. May take another day or two but it is getting ready.
Volume: 11.75M Avg Volume: 13.96M
BUY POINT: $44.15 Volume=20M Target=$53 Stop=$42.55
POSITION: AAO DV - Apr. $42.50c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/qcom.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 split
stock recommendation
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