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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good movers Wednesday: KFY; SVU
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.
RNWK: Held up relatively well, easing back on lower volume, still holding the lateral move of the past week. Still ready to go.
New Plays:
Upside:
Play Date: 12/08/2004
CEDC (Central European District--$27.39; +0.68; no options): Distributor of alcohol in Poland
http://biz.yahoo.com/p/c/cedc.html
STATUS: Test breakout. Strong surge last week on tremendous volume as CEDC broke out from its 22 week double bottom with handle base. In the market selling this week it has come back to test the move on lower volume, tapping at the 10 day EMA (26.59) on the Wednesday low and rebounding for a gain. Volume did not follow the stock higher, however, something we will need to see rectified before we move into the play. Excellent 7 to 3 accumulation in the pattern set up the breakout as buyers were moving in to accumulate the stock during the consolidation. Money flow is screaming higher ahead of price, and we anticipate the stock turning back up and following it. Again, we need to see volume as it makes the move.
Volume: 113.652K Avg Volume: 175.272K
BUY POINT: $27.75 Volume=250K Target=$33.95 Stop=$26.45
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/cedc.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/cd/issc.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/cd/qcom.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
COH: Moving laterally on low volume, holding the big break higher last week.
JNPR: Still looks ready to continue the move.
MSFT: Volume has been up the past two sessions as MSFT taps the 18 day EMA and rallied back. A break over 27.50 is an entry point and it looks ready to do it.
QCOM: See above.
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:
HURC: Volume has surged the past week as HURC tries to break higher and continue the breakout move from its 8 week cup base on the heels of a 16 week base. Like these base on base patterns as they really shake out the sellers.
ARBA: Moving laterally the past three weeks over the 18 day EMA, consolidating the late October surge off the bottom of its long base.
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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