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Begin part 3 of 3

THE PLAYS

Good movers Wednesday: DVA; USNA; ABFS; ACS; CNF; EWBC; JBLU; KDE

Tuesday night play results:
ADBL: Reversed on strong volume. Not doing it.
AXCA: Strong volume but held steady during the market selling.
GRP: Nice gap higher on volume.
PDS: Trying to make a breakout.
PPDI: Nice doji over the 10 day EMA.

New Plays:

Upside:

Play Date: 02/09/2005
GLBL (Global Industries--$8.49; +0.3; optionable): Heavy construction
http://biz.yahoo.com/p/g/glbl.html
After Hours: $8.47
STATUS: Reverse head and shoulders. Volume shot higher Wednesday as GLBL approached the breakout point from its 9 week base. GLBL is looking for a 2.5 year high on a breakout as it enjoys a nice recovery. Accumulation in the pattern is positive and the base formed on top of the 50 day EMA (7.87) a good sign of institutional support. Strong money flow and relative strength is ready to make the breakout, a good corroboration of the breakout when it occurs. Looks solid.
Volume: 858.845K Avg Volume: 698.681K
BUY POINT: $8.62 Volume=750K Target=$10.35 Stop=$8.07
POSITION: GQO FU - June $7.50c (78 delta) &/or Stock
http://www.investmenthouse.com/ci/glbl.html

Play Date: 02/09/2005
PIXR (Pixar--$88.88; -0.06; optionable): Computer animated movies
http://biz.yahoo.com/p/p/pixr.html
After Hours: $88.86
STATUS: Cup. PIXR is working laterally above the 50 day EMA (86.43) as it forms the bottom of its 9 week cup base. It looks ready to start to move higher to form the right side of the base. Solid 3 to 1 accumulation in the base shows steady accumulation as it moves through the pattern. Holding above the 50 day EMA shows big money stepping in to accumulate shares at this important support level. Looking for a strong break over 90 to start positions.
Volume: 580.158K Avg Volume: 916.636K
BUY POINT: $90.45 Volume=1.2M Target=$100 Stop=$87.55
POSITION: PQJ DR - Apr. $90c (48 delta)
http://www.investmenthouse.com/ci/pixr.html

Downside:

Play Date: 02/09/2005
BDK (Black & Decker--$82.06; -3.17; optionable): Hand tools, etc.
http://biz.yahoo.com/p/b/bdk.html
STATUS: Put. BDK peaked in early January and sold below the 50 day EMA (83.37). Volume picked up as it sold harder to end January, but it has rebounded to test the 50 day on lower trade. After trying to retake that support it crashed back through Wednesday on a strong shot of volume. Looking to pick up positions as it continues lower. A move to the target gives us a 45%ish gain.
Volume: 1.584M Avg Volume: 638.09K
BUY POINT: $81.94 Volume=650K Target=$78.88 Stop=$82.48
POSITION: BDK OQ - Mar. $85p (-70 delta)
http://www.investmenthouse.com/ci/bdk.html

Play Date: 02/09/2005
EYET (Eyetech Pharmaceuticals--$34.8; -1.43; optionable): Biotechnology
http://biz.yahoo.com/p/e/eyet.html
After Hours: $34.83
STATUS: Put. Trending lower since the start of the year, EYET has trended below the 10 day EMA (36.22). This week it rebounded up to the 18 day EMA (37.21) but on pathetic volume. It rolled over Wednesday on rising volume. Looks really weak.
Volume: 649.355K Avg Volume: 1.127M
BUY POINT: $34.67 Volume=1.1M Target=$32.55 Stop=$35.58
POSITION: QUJ OG - Mar. $35p (-48 delta)
http://www.investmenthouse.com/ci/eyet.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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