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trade stock, stock split
Begin part 3 of 3
THE PLAYS
Good movers Friday: BRCD; HOLL; PNK
Thursday night play results:
HAR: Volume was up Friday. Looking ready to make the next break higher.
PNK: Continued the nice surge on strong volume.
PRFT: Tried to continue the break higher but volume backed off a bit. Still ready to move.
VNWK: Big dip lower but rallied back to hold the pattern.
New Plays:
Play Date: 12/18/2004
AMMD (American Medical Systems--$40.27; +1.15; optionable): Medical appliances
http://biz.yahoo.com/p/a/ammd.html
After Hours: $40.43
STATUS: Double bottom w/handle. Volume exploded Friday as AMMD shot off the 18 December 2004 (38.87), hitting 41.29 on the high. It could not hold the entire move, backing off to close just over the highs in the 6 week base sporting strong 3 to 0 accumulation (3 up price weeks on rising volume to 0 down price weeks on rising volume), showing solid buying during this consolidation. It used the 50 day EMA (37.42) on the two lows in the pattern, a very good indication of big money support for the stock. Still ready for the big breakout.
Volume: 893.429K Avg Volume: 309.09K
BUY POINT: $40.55 Volume=450K Target=$48 Stop=$38.65
POSITION: FGU EH - May $40c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/ammd.html
Play Date: 12/18/2004
GOOG (Google--$180.08; +3.61; optionable): Internet search, etc.
http://biz.yahoo.com/p/g/goog.html
After Hours: $180.02
STATUS: Pennant. GOOG is moving laterally in its first base, an 8 week job at this juncture. Volume backed off in late November and early December, showing more trade this past week as it moved off some support at 170, stepping higher in the pattern as it gets ready for the next leg. It could spend a lot more time forming a full cup base, but this volume suggests that the stock may be ready to make its next move higher. At this level we are looking at options and will let the play run as long as it will; $210 is just the initial target. Hearing some good information about a split coming.
Volume: 7.418M Avg Volume: 10.743M
BUY POINT: $181.25 Volume=12M Target=$210 Stop=$175
POSITION: GOU CP - Mar. $180c (55 delta)
http://www.investmenthouse.com/ci/goog.html
Play Date: 12/18/2004
HURC (Hurco Cos.--$17.52; -0.47; no options): Scientific & technical instruments
http://biz.yahoo.com/p/h/hurc.html
STATUS: Test 18 December 2004. HURC broke out from a 16 week cup base to start October, a solid base sporting strong 5 to 2 accumulation. This is the second test of the breakout. In November it came back to the 50 day EMA (15.58) on very low volume, and the past three weeks it has moved laterally on very low trade again, holding the 18 day EMA (17.12) on the intraday lows. Solid money flow compliments the good breakout and nice test. Range is narrowing as it gets ready for the next leg higher.
Volume: 74.724K Avg Volume: 159.313K
BUY POINT: $18.65 Volume=215K Target=$22.38 Stop=$17.48
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/hurc.html
Play Date: 12/18/2004
KNGT (Knight Transportation--$24.44; +0.23; optionable): Trucking
http://biz.yahoo.com/p/k/kngt.html
After Hours: $24.35
STATUS: Double bottom/rectangle. KNGT is moving laterally over the 50 day EMA (23.31) on mostly below average volume, forming up a 6 week pattern and showing solid 3 to 0 accumulation and money flow that has started to turn higher ahead of stock price. The transportation stocks have perked up and are forming up for their next moves. Looking for a volume breakout from the lateral range.
Volume: 250.915K Avg Volume: 264.971K
BUY POINT: $25.05 Volume=350K Target=$30 Stop=$23.88
POSITION: GVL CW - Mar. $23.38c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/kngt.html
Play Date: 12/18/2004
PFCB (PF Changs--$56.21; +0.26; optionable): Chinese restaurant chains
http://biz.yahoo.com/p/p/pfcb.html
STATUS: Breakout test. A very nice low volume lateral move over the 18 December 2004 (56.07) as PFCB tests the early November breakout from its 7 month cup with handle base. It ran well up to 58 and has spent this month making the lateral and lower move, testing the breakout. Money flow has remained strong and Friday volume edged back to average as it held the 18 day. Looking for stronger volume as it surges through the buy point.
Volume: 389.97K Avg Volume: 424.686K
BUY POINT: $57.32 Volume=637K Target=$65 Stop=$55.89
POSITION: HUO DK - Apr. $55c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/pfcb.html
Play Date: 12/18/2004
STN (Station Casinos--$55.50; +1.55; optionable): Resorts and casinos
http://biz.yahoo.com/p/s/stn.html
STATUS: 50 day EMA test. Volume jumped Friday as STN moved off the 50 day (53.77) after a nice, low volume pullback that tested the November breakout. A nice 5 month cup with handle base sporting positive accumulation set the stage for the breakout. Money flow has remained strong during this test, starting sharply higher to end the week. Looking for the stock to clear the short term MA (10 and 18 December 2004 at 55.54 and 55.63) to enter positions.
Volume: 1.066M Avg Volume: 511.226K
BUY POINT: $55.78 Volume=675K Target=$66.95 Stop=$53.58
POSITION: STN DK - Apr. $55c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/stn.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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