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stock split, buy stock
Begin part 3 of 3
THE PLAYS
Good movers Thursday: AVID; CRZO; GLBL; GRP; TV; USNA; ABFS; EYET; JBLU; MFE
Wednesday night play results:
GLBL: Nice volume breakout.
PIXR: Nice volume as it made the break but gave half of it back.
BDK: Fell on volume and then reversed on us. Still below the 50 day and rebounded on lower volume.
EYET: Diving lower on higher volume.
New Plays:
Upside:
Play Date: 01/29/2005
GPN (Global Payments--$58.55; -0.41; optionable): Global payment services
http://biz.yahoo.com/p/g/gpn.html
STATUS: Cup w/handle. GPN has dropped back to the 18 day EMA (58.13) on the Thursday low, rebounding to cut the losses into the close. Volume was up as it rebounded; a mixed picture. It is forming the handle to a 6 week pattern sporting outstanding 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume) showing nothing but buying in the base. It also formed over the 50 day EMA (56.89), another sign of institutional buying. Strong money flow and relative strength ready to breakout again. Looking for a solid volume break through the buy point.
Volume: 501.1K Avg Volume: 288.954K
BUY POINT: $60.06 Volume=433K Target=$66.55 Stop=$58.55
POSITION: GPN EL - May $60c (45 delta) &/or Stock
http://www.investmenthouse.com/ci/gpn.html
Play Date: 02/10/2005
MHK (Mohawk--$92.90; +1.10; optionable): Carpet makers. Forecast to announce a split 2-14-05 after the close.
BACKGROUND: Last split 3:2 in 12-97 at a price of $31.
http://biz.yahoo.com/p/m/mhk.html
STATUS: Test breakout. MHK broke out from a 12 week flat base last week and is coming back on low volume to test that move. It came back to the 10 day EMA (81.12) on low volume and then rebounded Thursday on much stronger, above average volume. Excellent money flow is leading higher ahead of the stock. Relative strength has made the breakout as well, a good corroboration of the move. Looking to move in on a further rally on rising volume.
Volume: 337K Avg Volume: 271.227K
BUY POINT: $93.59 Volume=400K Target=$100 Stop=$91.27
POSITION: MHK ER - May $90c (75 delta)
http://www.investmenthouse.com/ci/mhk.html
Play Date: 02/10/2005
UNFI (United Natural Foods--$32.18; +1.35; optionable): Wholesale natural foods
http://biz.yahoo.com/p/u/unfi.html
After Hours: $32.17
STATUS: Cup w/handle. UNFI is making the breakout move from a short 7 week base that formed using the 50 day EMA (29.57) as support. Excellent 3 to 0 accumulation in the base shows all buyers as the stock took a breather. Super money flow is heading higher ahead of price. Relative strength is also breaking out, a very good indication of the stocks' strength. Super volume Thursday as WFMI, one of UNFI's big clients, announced strong earnings. UNFI came back from the high (33.41) to close, but it still looks solid here.
Volume: 921.6K Avg Volume: 316.409K
BUY POINT: $32.32 Volume=320K Target=$37.35 Stop=$31.05
POSITION: EYO EF - May $30c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/unfi.html
Play Date: 02/10/2005
VPI (Vintage Petroleum--$25.55; +0.90; optionable): Independent oil and gas
http://biz.yahoo.com/p/v/vpi.html
STATUS: Double bottom w/handle breakout. VPI surged higher Thursday on extreme volume as it made the breakout from its 10 week base sporting solid 4 to 2 accumulation. Strong money flow is leading higher and VPI is following. Relative strength is breaking out as well, a very good signal the breakout is for real. Looking to step in on a further move higher on this breakout and then wait for a successful test to complete the buy.
Volume: 879.5K Avg Volume: 336.772K
BUY POINT: $25.68 Volume=350K Target=$30 Stop=$24.32
POSITION: VPI EE - May $25c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/vpi.html
End part 3 of 3
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stock split
buy stock
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