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Begin part 3 of 3
We apologize for the late delivery. We experienced serious problems with our software this evening.
THE PLAYS
Good movers Thursday: AFFX; CTIC; DADE; MSTR; ABFS
Wednesday night play results:
MSTR: Great gap higher and soaring after hours.
JBLU: Gapped higher but rolled over on volume. Couldn't handle the earnings news.
DJX: Not a bad move lower, and still ready to fall.
PFSW: Took a very low volume breather Thursday after the solid Wednesday move.
New Plays:
Upside:
Play Date: 01/27/2005
ENMD (Entremed--$4.17; -0.15; optionable): Biotechnology
http://biz.yahoo.com/p/e/enmd.html
After Hours: $4.07
STATUS: Breakout test. ENMD broke out in early December from an 11 month base and moved laterally until early this month when it rebounded to continue the breakout. A good rest last week as the market sold and it was off and running again Wednesday on strong, above average volume. Solid 10 to 6 accumulation in the base shows net buyers. Excellent money flow is leading higher. Thursday it took a breather with a small lower volume pullback. It may come back a bit more to test 4 again but after this little rest it will be ready for more upside.
Volume: 870.407K Avg Volume: 853.545K
BUY POINT: $4.38 Volume=1.3M Target=$5.45 Stop=$4.11
POSITION: QMA EZ - May $2.50c (92 delta) &/or Stock
http://www.investmenthouse.com/cd/enmd.html
Play Date: 01/27/2005
MEE (Massey Energy--$35.73; +1.34; optionable): Industrial metals
http://biz.yahoo.com/p/m/mee.html
STATUS: Ascending Triangle. Volume surged well above average Thursday as MEE jumped toward the breakout from its 8 week base formed making higher lows up the 50 day EMA (33.22) below a constant top at 36. A good lower volume consolidation to set up the next move. Breakouts from these patterns can be explosive, and we want to be ready as it makes the move.
Volume: 2.195M Avg Volume: 1.403M
BUY POINT: $36.11 Volume=2M Target=$42 Stop=$43.05
POSITION: MEE DG - Apr. $35c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/mee.html
Downside:
Play Date: 01/27/2005
EWBC (East West Bancorp--$37.91; -1.44; optionable): Pacific regional bank
http://biz.yahoo.com/p/e/ewbc.html
After Hours: $37.92
STATUS: Put. EWBC formed something of a triple top in November and December as it moved laterally in a 4 week range. When a stock fails for a third time it typically is going back to the bottom of the range. EWBC did that (40) and then went further, falling through its range. It fell for two weeks and then rebounded Wednesday to the 50 day EMA (39.73). It reversed violently Thursday on even stronger volume. Looks ready to make another quick run lower. A move to the target scores a 55%ish gain.
Volume: 737.655K Avg Volume: 306.954K
BUY POINT: $37.72 Volume=460K Target=$35.69 Stop=$38.55
POSITION: EOQ OH - Mar. $40p (-79 delta)
http://www.investmenthouse.com/cd/ewbc.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: May be ready to make the bounce off the 50 day EMA after the test following earnings and the split announcement.
MSFT: Good volume move up but still below the 50 day EMA. Reported solid earnings after hours and upped guidance for 2005 by a penny. That had it moving higher after hours and it was trading about 20 cents above its 50 day EMA (26.41). That will be a key point for the stock as it trades on Friday.
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:
ILMN: Nice breakout early in the week from a 13 month cup with handle. It has edged laterally the past two sessions, taking a breather. May test back a bit more from here before continuing the move.
Downside:
KKD: In a deep downtrend below the 10 day EMA, making periodic bounces up to the 50 day EMA. It has tried to rebound again two weeks back but reversed intraday big time. It has some support at 8.55. Breaks that and there looks to be more downside.
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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