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Begin part 3 of 3

THE PLAYS

Good movers Tuesday: NFLD; ENER

Monday night play results:
EFX: Gapped higher and reversed for a loss.
ISCA: Hmmm. Gapped higher then reversed. Still in the handle. We will see.
WSTM: Nice easy test of the strong Monday move.
YHOO: Got hit along w/AMZN, selling through the 50 day EMA. There is support at 36.

New Plays:

Upside:

Play Date: 01/04/2005
CPS (Choicepoint--$45.30; -0.15; optionable): Identification and credential verification services
http://biz.yahoo.com/p/c/cps.html
STATUS: Breakout test. CPS showed a nice doji Tuesday, holding the 18 day EMA (44.95) as it came back to test the mid-December breakout. Nice 24 week double bottom with handle base that formed above the 200 day SMA (42.85), an important institutional support level where big money quietly steps in to pick up shares of its favorite stocks. Solid 7 to 5 accumulation (7 up price weeks on rising volume to 5 down price weeks on rising volume) shows net buyers and sets up the breakout. Volume has been lower on this test, ramping up Tuesday as CPS reached lower but buyers used that as an opportunity to move into the stock. Looking for volume to continue as CPS uses this doji as the runway for the continuation of the breakout run. Has held up very well during the market selling, an indication of its strength as no one wants to sell it.
Volume: 346.5K Avg Volume: 259.272K
BUY POINT: $45.88 Volume=400K Target=$51 Stop=$44.78
POSITION: CPS DI - Apr. $45c (45 delta)
http://www.investmenthouse.com/cd/cps.html

Play Date: 01/04/2005
MAPS (Mapinfo--$11.79; +0.04; no options): Multimedia and graphics business software for problem solving and decision making.
http://biz.yahoo.com/p/m/maps.html
After Hours: $11.77
STATUS: Double bottom w/handle. MAPS is working on a quiet, very low volume handle to its 11 month base. It is holding the 18 day EMA (11.84) on this pullback, a good support level for a handle. Positive accumulation in the pattern shows net buyers. Money flow is strong and rallying ahead of price. Got a bit wild in early December but recovered, held the pattern, and is setting up the breakout move. It should be easy to see as volume has been very low the past two weeks.
Volume: 62.753K Avg Volume: 98K
BUY POINT: $12.35 Volume=147K Target=$15.12 Stop=$11.68
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/maps.html

Play Date: 01/04/2005
MPE (Mpower Holding--$1.84; -0.02; no options): Telecom services
http://biz.yahoo.com/p/m/mpe.html
STATUS: Cup w/handle. A new issue in the fall of 2002, MPE has spent the past 15 months forming the current base that has consolidated the strong run from April to October 2003. Solid 13 to 9 accumulation in the base shows net buyers. Strong money flow continues to lead the price. Nice handle forming over the 18 day EMA (1.82). Putting the finishing touches on the base and looking for a nice volume breakout to move in as the stock moves to an all-time high.
Volume: 283.8K Avg Volume: 280.5K
BUY POINT: $1.98 Volume=421K Target=$2.69 Stop=$1.84
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/mpe.html

Play Date: 01/04/2005
PMTI (Palomar Medical Tech--$23.70; -0.65; optionable): Medical appliances
http://biz.yahoo.com/p/p/pmti.html
After Hours: $23.62
STATUS: Test 18 day EMA. One of the leading stocks in earnings and sales, PMTI got caught in the selling this week, but even though it sold below the 18 day EMA (23.80) intraday, it recovered by the close. Volume was much lower Tuesday than Monday. That indicates PMTI is setting up to hold here and continue its move. The stock is in a 12 week cup base that formed roughly at the 50 day EMA (22.59). Again the selling did not send it careening below its base. Looking for it to hold here and give us a volume bounce higher to start positions. When it clears the recent highs at 26.64 we will look to add some positions.
Volume: 557.148K Avg Volume: 369.954K
BUY POINT: $24.78 Volume=555K Target=$32 Stop=$23.32
POSITION: HKQ EE - May $25c (50 delta) &/or Stock
http://www.investmenthouse.com/cd/pmti.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: Can sell some $55 or $50 calls and buy them back on a test near the 50 day EMA (51.47).

EASI: Filling the early December gap higher, finally.

EBAY: 50 day EMA test. May prove to be a good entry point.

JNPR: Trouble. Was not able to retake the 50 day EMA after two weeks of trying. May hit near 24.

MSFT: Showing amazing strength here.

QCOM: Refusing to give up the 50 day EMA. A good sign. So far.

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:

COGT: A new issue in September, COGT is making a test of the 50 day EMA after a solid November run. There is some price support here as well. A solid volume rebound here would be a decent entry point.

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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