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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers Tuesday: ATSN; BEAV; CMVT; FSL; INOD; ISSC; NCR; RMBS; WMS
Monday night play results:
CBST: Starting the move but not enough volume.
CERN: Nice break higher on solid volume.
EFJI: Gapped higher but could not hold the move as volume was much lower.
VISG: Gapped lower on volume.
New Plays:
Play Date: 12/14/2004
CPRT (Copart--$26.88; +1.09; optionable): Auto parts salvage
http://biz.yahoo.com/p/c/cprt.html
After Hours: $27.51
STATUS: Cup w/handle. Not sexy, but the sex is in the moves. Tuesday CPRT blasted out of a 22 week base to an all-time closing high. A frequent split announcer in the past, though the last one it popped off was in early 2002. It is getting closer to split price, and this solid pattern and breakout is a great point to enter ahead of a potential announcement down the road.
Volume: 1.05M Avg Volume: 751.398K
BUY POINT: $27.05 Volume=1.1M Target=$32.45 Stop=$25.22
POSITION: KQJ EE - May $25c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/cprt.html
Play Date: 12/14/2004
LRW (Labor Ready--$16.10; +0.62; optionable): Staffing & outsourcing
http://biz.yahoo.com/p/l/lrw.html
STATUS: Cup w/handle. Volume is surging as LRW is making the breakout from its 23 week base sporting solid 6 to 4 accumulation (6 up price weeks on rising volume to 4 down price weeks on rising volume). This shows net buyers during the base, setting up the breakout and subsequent run. The breakout is underway with this strong move that is following money flow higher. This will take it to a multiyear high and not too far from an all-time high.
Volume: 889.4K Avg Volume: 294.136K
BUY POINT: $16.37 Volume=350K Target=$19.65 Stop=$15.55
POSITION: LRW EC - May. $15c (74 delta) &/or Stock
http://www.investmenthouse.com/ci/lrw.html
Play Date: 12/14/2004
OVNT (Overnite Corp.--$35.84; +1.14; optionable): Trucking
http://biz.yahoo.com/p/o/ovnt.html
After Hours: $35.83
STATUS: Ascending triangle. Volume is picking up as OVNT is bumping at the breakout point from its 8 week triangle. The stock has used the 50 day EMA (34.08) as support as it makes higher and higher lows below the constant top at 35. Excellent 3 to 0 accumulation in the pattern shows nothing but buyers in the consolidation. Strong money flow as well. Breakouts from these patterns can be explosive, and we need to be ready when it makes the break.
Volume: 344.286K Avg Volume: 209.045K
BUY POINT: $36.32 Volume=335K Target=$41 Stop=$34.55
POSITION: QWQ CG - Mar. $35c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/ovnt.html
Play Date: 12/14/2004
PKI (Perkinelmer--$22.70; +0.81; optionable): Scientific instruments, consumables and services to the pharma, biomedical, environmental testing and chemical markets
http://biz.yahoo.com/p/p/pki.html
STATUS: Reverse head and shoulders. PKI is making a high volume breakout from its 34 week base. Great price/volume action in the pattern with volume surging as it rallied up in late October to form the right side of the 'head,' then backed off as it moved laterally the past six weeks to form the right shoulder. Strong 10 to 6 accumulation in the base shows net buyers, setting up the foundation for the breakout. It is making the move and we are ready to take positions on a further volume gain and then again on a successful test of that move.
Volume: 1.491M Avg Volume: 842.411K
BUY POINT: $22.88 Volume=1.1M Target=$27.45 Stop=$21.22
POSITION: PKI CX - Mar. $22.50c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/pki.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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