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trade stock, stock split
Begin part 3 of 3
THE PLAYS
Good movers Monday: CYT; GOOG; PRFT
Best Plays:
1) WWCA: Making the breakout on strong trade.
2) ACTI: Breaking higher on strong trade.
3) NKE: Nice test of the strong December break higher.
4) IMDC: Showing signs of a breakout.
5) NEOL: Volume was up as it tests prepared for the next bounce higher.
6) VISG: Still solid as it tests back after a strong break higher off the 200 day SMA.
NEW PLAYS:
Upside:
Play Date: 01/03/2005
ACTI (Activecard--$9.26; +0.36; no options): PC security software
http://biz.yahoo.com/p/a/acti.html
After Hours: $9.30
STATUS: Cup w/handle. Volume jumped Monday as ACTI did the same, trying the breakout from the handle of its 20 month base. It fell back as the session wore on, but held much of the move. Solid 13 to 7 accumulation in the base (13 up price weeks on rising volume to 7 down price weeks on rising volume) shows net buyers and sets up the foundation for a breakout. Looking for ACTI to resume its breakout move on continued solid volume to move into positions.
Volume: 1.02M Avg Volume: 215.318K
BUY POINT: $9.48 Volume=323K Target=$11.48 Stop=$8.82
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/acti.html
Play Date: 01/03/2005
NKE (Nike--$90.69; 0.00; optionable): Sports apparel, etc.
http://biz.yahoo.com/p/n/nke.html
STATUS: Test breakout. NKE exploded higher in mid-December on some very strong earnings results. NKE is approaching the $100 dollar level again; not only good for a possible split but also for a nice run to 100 as that level acts as a magnet for strong stocks that clear 90. This is a continuation of the October breakout from a 26 week base that formed using the 200 day SMA (77.06) as support. NKE has come back to test the December break higher, easing back on mostly lower volume. It is holding the 10 day EMA (90.45) on this pullback, an indication of a strong move as the buyers don't want to give up positions the just bought. Strong money flow and relative strength. Volume was up Monday, moving back close to average. Looking for it to jump off this level on strong trade to enter positions.
Volume: 1.112M Avg Volume: 1.208M
BUY POINT: $91.88 Volume=1.2M Target=$100 Stop=$89.25
POSITION: NKE DR - Apr. $90c (48 delta)
http://www.investmenthouse.com/ct/nke.html
Play Date: 01/03/2005
USNA (Usana Health Science--$33.91; -0.29; optionable): Drug related products
http://biz.yahoo.com/p/u/usna.html
After Hours: $33.98
STATUS: Cup w/handle. USNA has formed a nice 12 week base, currently testing the 18 day EMA (33.59) as it forms the handle. This is the part of a larger 14 month base that started back in November 2003. Solid 14 to 9 accumulation in that larger base shows net buyers, setting a good foundation for a breakout move. Being patient to let it rebound on volume to show us the entry point, but we like the doji it showed on the candlestick chart as it tested the 18 day EMA.
Volume: 236.641K Avg Volume: 201.727K
BUY POINT: $35 Volume=303K Target=$42 Stop=$33.42
POSITION: UNX DG - Apr. $35c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/usna.html
Play Date: 01/03/2005
WWCA (Western Wireless--$30.78; +1.48; optionable): Wireless telecom communications
http://biz.yahoo.com/p/w/wwca.html
After Hours: $30.82
STATUS: Ascending triangle. Nice breakout move Monday on strong volume on an upgrade. The move took WWCA out of the 7 month triangle sporting strong 8 to 4 accumulation. The base used the 200 day SMA (26.39) on the lows, an important institutional support level. The big money stepped in at that point to accumulate more shares, setting up the base for the breakout. Breakouts can be explosive, and WWCA was shooting higher Monday. It may come back to fill the gap, but we are ready to take a partial position on a further move higher, and then if we get a test we will look to add to positions. Very nice, clean breakout from a nice base.
Volume: 3.132M Avg Volume: 872.727K
BUY POINT: $30.92 Volume=1.3M Target=$35.48 Stop=$29.22
POSITION: WRQ EF - May. $30c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/wwca.html
Downside:
Play Date: 01/03/2005
PXP (Plains Exploration & Production--$24.97; -1.03; optionable): Independent oil and gas
http://biz.yahoo.com/p/p/pxp.html
After Hours: $24.96
STATUS: Head and shoulders. PXP has formed a 12 week distribution pattern, trying to hold above the 50 day EMA (25.39) as it formed the pattern. Monday it broke lower, moving through that support level on much stronger, rising volume. Money flow is diving lower ahead of price, and we anticipate PXP following it lower to the September interim top near 23. That is our initial target and would give us a 53%ish gain.
Volume: 1.394M Avg Volume: 678.636K
BUY POINT: $24.88 Volume=700K Target=$22.85 Stop=$25.38
POSITION: PXP QE - Feb. $25p (-43 delta)
http://www.investmenthouse.com/ct/pxp.html
CONTINUING PLAYS:
Not yet entered:
Play Date: 12/21/2004
ARRY (Array Biopharma--$9.34; -0.18; optionable): Medical labs
http://biz.yahoo.com/p/a/arry.html
STATUS: STATUS: Cup w/handle. ARRY has come under some pressure the past two sessions, selling back toward the 18 day EMA (9.14) on much stronger, above average volume. It is still in the handle to its 8 month base sporting strong 9 to 5 accumulation (9 up price weeks on rising volume to 5 down price weeks on rising volume). Money flow continues to hold up well ahead of price. Don't particularly like the higher volume selling, but it is still holding the pattern and volume is most likely attributable to the new year. Looking for a solid rebound on continued strong trade.
Volume: 591.517K Avg Volume: 161.636K
BUY POINT: $9.57 Volume=375K Target=$11.55 Stop=$8.97
POSITION: AUQ EB - May $10c (45 delta) &/or Stock
http://www.investmenthouse.com/ct/arry.html
Play Date: 12/20/2004
IMDC (Inamed--$62.84; -0.41; optionable): Medical appliances
http://biz.yahoo.com/p/i/imdc.html
STATUS: Cup w/handle. IMDC is still working laterally in a nice tight range over the 10 day EMA (63.05) on very low, below average volume. Tried the break higher Monday, and though volume was higher, it was still below average. Nice 25 week base sporting solid accumulation. Looks ready for the breakout.
Volume: 244.291K Avg Volume: 312.318K
BUY POINT: $63.59 Volume=572K Target=$73.65 Stop=$61.55
POSITION: UZI DM - Apr. $65c (45 delta) &/or Stock
http://www.investmenthouse.com/ct/imdc.html
Play Date: 12/18/2004
KOOL (Thermogenesis--$6.25; -0.09; no options): Scientific and technical instruments
http://biz.yahoo.com/p/k/kool.html
STATUS: Double bottom w/handle. Got a bit edgy Monday, but managed to hold above the 18 day EMA (6.17) on the close. Good volume last Friday tried to break it out. After the Monday running up and down KOOL may have got it out of its system. Strong 11 to 6 accumulation in its 11 month base has set the stage. Money flow remains solid. Ready for the breakout.
Volume: 274.26K Avg Volume: 241.318K
BUY POINT: $6.54 Volume=350K Target=$7.89 Stop=$6.15
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/kool.html
Play Date: 12/30/2004
MRCY (Mercury Computer Systems--$29.61; -0.07; optionable): Telecom equipment
http://biz.yahoo.com/p/m/mrcy.html
STATUS: Cup w/handle. Very nice, tight doji with tale at the 50 day EMA (29.45). Very good action at the bottom of the handle to its 12 month base sporting strong 14 to 7 accumulation. Strong money flow still leading higher. Volume moved up to average on the move, indicating it is ready to try the stronger move higher.
Volume: 162.918K Avg Volume: 185.227K
BUY POINT: $30.15 Volume=276K Target=$36 Stop=$29.28
POSITION: QYR EF - May $30c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/mrcy.html
Play Date: 12/22/2004
NEOL (Neopharm--$12.17; -0.34; optionable): Biotechnology
http://biz.yahoo.com/p/n/neol.html
After Hours: $12.17
STATUS: Cup. NEOL continues to work on the right side of its 8 month base, holding support at the 18 day EMA (12.15). Money flow is surging higher ahead of price, leading the way higher. Volume moved up to average Monday as NEOL rallied early but then faded into the close. Ready to make the move.
Volume: 254.242K Avg Volume: 248.272K
BUY POINT: $13.12 Volume=450K Target=$16 Stop=$12.32
POSITION: UOE DV - Apr. $12.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/neol.html
Play Date: 12/29/2004
VISG (Visage Technology--$8.91; -0.10; optionable): Identification solutions for government, law enforcement, private business
http://biz.yahoo.com/p/v/visg.html
STATUS: Cup. VISG continues to move back to test the move higher off of its 200 day SMA (7.89) as it works on forming the right side of its 9 month cup base. Accumulation is excellent at 11 to 3 and money flow is surging higher ahead of price. Nice pullback to test the strong volume move higher two weeks back. It is ready and now just needs to show us the move.
Volume: 676.895K Avg Volume: 1.034M
BUY POINT: $9.75 Volume=1.3M Target=$11.75 Stop=$9.07
POSITION: TUM DU - Apr. $7.50c (80 delta) &/or Stock
http://www.investmenthouse.com/ct/visg.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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