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Begin part 3 of 3

THE PLAYS

Good movers Friday: STN; WSTM; ABFS; CTIC

Thursday evening play results:
ACO: Still very solid, still ready to make the breakout.
AVO: Sold a bit further but holding the 50 day EMA on lower volume.
USU: Still forming the nice handle to its base.
ABFS: Turned down nicely on strong volume.

New Plays:

Upside:

Play Date: 01/22/2005
FOXH (Foxhollow Technologies--$29.31; +0.32; no options): Medical instruments
http://biz.yahoo.com/p/f/foxh.html
STATUS: Cup w/handle. A new issue in late October, FOXH has formed its first base the past 8 weeks, a nice cup with handle. Accumulation in the pattern is excellent at 4 to 1 (4 up price weeks on rising volume to 1 down price weeks on rising volume), showing the stock has been accumulated even as it rested after its IPO run. Strong volume break higher 5 sessions back followed by a very low volume pullback to test the 10 day EMA (27.44) and form the handle last week. Excellent relative strength is breaking out ahead of the price, a bullish indication. Excellent money flow. Gee, sounds rather excellent. Just looking for volume to jump back up as it continues higher.
Volume: 102.103K Avg Volume: 150K
BUY POINT: $30.32 Volume=250K Target=$36.38 Stop=$28.32
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/foxh.html

Play Date: 01/22/2005
PFSW (PFSweb--$3.29; -0.06; no options): Business process outsourcing (packaged to services to businesses covering all aspects)
http://biz.yahoo.com/p/p/pfsw.html
After Hours: $3.32
STATUS: Breakout test. After a strong start to the week that saw PFSW emerge from a short 6 week base, PFSW eased back Thursday and Friday on very low volume to test that move as the rest of the market sold. This moves follows the November breakout from a larger 14 month cup base. Given the market selling, this second base is not a bad way for PFSW to bide the time while the market corrects. In short, it is showing relative strength as the market sells. Outstanding 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume) as it formed the most recent base. No sellers in the stock. Excellent money flow as well and a relative strength breakout shows the stock is a leader as the rest of the market sells. May pullback a bit more from here, but holding 3.25 would be solid show of strength.
Volume: 242.874K Avg Volume: 344.863K
BUY POINT: $3.55 Volume=350K Target=$4.62 Stop=$3.31
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/pfsw.html

Downside:

Play Date: 01/22/2005
BRCM (Broadcom--$30.49; -1.38; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/b/brcm.html
After Hours: $30.21
STATUS: Put. Rough session Friday as BRCM fell out of a 6 week lateral consolidation, slicing through the 50 day EMA (31.38) on high volume as it did. Money flow is heading south ahead of the stock price, and BRCM seems intent on following it. Looking for a continued solid volume move lower. A run to the target delivers a 45%ish gain.
Volume: 13.86M Avg Volume: 9.881M
BUY POINT: $30.35 Volume=9.9M Target=$28.27 Stop=$31.39
POSITION: RCQ NZ - Feb. $32.50p (-68 delta)
http://www.investmenthouse.com/cd/brcm.html

Play Date: 01/22/2005
BEN (Franklin Resources--$64.99; -1.66; optionable): Asset management services
http://biz.yahoo.com/p/b/ben.html
STATUS: Put. A change of character for BEN Friday as the stock sliced through the 50 day EMA (66.27) on very strong, above average volume. This move followed a strong run from the late October breakout from a solid cup with handle base. It tried to hold at the 50 day EMA as a strong stock should after a nice run, but it missed an important point, i.e. holding at the 50 day EMA. Will try to test the break lower, but we are willing to start the position on a further move lower from here.
Volume: 1.725M Avg Volume: 980.181K
BUY POINT: $64.88 Volume=1.1M Target=$62.85 Stop=$65.18
POSITION: BEN NM - Feb. $65p (-47 delta) or BEN OM - Mar. $65p
http://www.investmenthouse.com/cd/ben.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

BR: Has recovered the 50 day EMA and is moving laterally over that level, trying to set up a handle to a 7 week double bottom with handle base. Nice recovery, but needs to complete the base.

GTRC: Nice tight doji on low volume at the 18 day EMA as it tests the solid early December move.

MSFT: Volume has ramped back up toward average as MSFT continues to dive lower below the 50 day EMA.

QCOM: Reached way down below the 200 day SMA Friday and rebounded to hold that level on the close. Still seeing if it can deliver more of a rebound to test that Thursday gap lower.

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:

CPKI: Have been watching CPKI on our watchlist. Has formed a short 7 week double bottom with handle base that is acting as the tail end of a larger 2 year pattern. Not a bad set up after coming off of the low in that downtrend.

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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