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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good movers Friday: AAPL; CHS; DDDC; FLSH; INFY; LRCX; PTEN; RDEN; UNFI; ZICA
Best Plays:
1) ARTC: Ready for a new high.
2) KRON: Ready to resume the breakout move.
3) NTAP: Volume has jumped as NTAP comes off the 50 day EMA.
4) CVC: Starting the new rally on strong volume.
5) GET: Volume us up as it comes off the 50 day EMA.
6) XXIA: Volume is up as it heads toward the breakout over near resistance.
NEW PLAYS:
Upside:
Play Date: 02/12/2005
ARTC (Arthrocare--$32; +0.55; optionable): Medical appliances
http://biz.yahoo.com/p/a/artc.html
STATUS: Cup w/handle. ARTC has formed a short 7 week base sporting solid 3 to 1 accumulation (3 up price weeks on rising volume to 1 down price weeks on rising volume). This base formed right below a multiyear high, and a breakout takes it past any near resistance. Friday volume was higher, moving toward average. Looking for an above average volume as ARTC moves through the buy point for the breakout. Good pattern, good sector.
Volume: 263.806K Avg Volume: 414.684K
BUY POINT: $32.54 Volume=622K Target=$38.48 Stop=$31.15
POSITION: ARU FF - June $30c (72 delta) &/or Stock
http://www.investmenthouse.com/ct/artc.html
Play Date: 02/12/2005
CVC (Cablevision Systems--$27.46; +0.87; optionable): Cable TV systems
http://biz.yahoo.com/p/c/cvc.html
STATUS: Breakout test. CVC was on the report this month as we waited for it to continue higher after testing the strong January gap that broke it out of its 13 month cup with handle base. It tested back for three weeks on low volume and has now filled most of the gap higher. Friday volume surged as CVC gapped higher again, clearing the 10 and 18 day EMA (27.08, 26.83) as it did. Money flow remains strong and it is once again leading higher ahead of price. Looks ready to resume that breakout move.
Volume: 4.118M Avg Volume: 1.716M
BUY POINT: $27.88 Volume=2M Target=$33 Stop=$26.96
POSITION: CVC FE - June $25c (79 delta) &/or Stock
http://www.investmenthouse.com/ct/cvc.html
Play Date: 02/12/2005
KRON (Kronos--$55.23; +0.79; optionable): Human resources, payroll, scheduling, and time and labor solutions
http://biz.yahoo.com/p/k/kron.html
STATUS: Flying plateau. KRON has spent the past two weeks moving laterally in a tight range at 54, holding its gains after a strong break higher to end January. That break higher moved it out of a 14 week flat base that formed over the 50 day EMA (50.59). Excellent 6 to 1 accumulation in the base shows a lot of ongoing buying. The flying plateau is a consolidation but no one wants to sell the stock; a sign of real strength. Excellent money flow and a relative strength breakout. Just a matter of time before it continues the breakout move. The 10 day EMA (53.94) has now caught up to it, and that is what typically triggers the next move higher.
Volume: 145.975K Avg Volume: 210.863K
BUY POINT: $55.78 Volume=316K Target=$62.55 Stop=$53.85
POSITION: KUE GK - July $55c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/kron.html
Play Date: 02/12/2005
MBT (Mobile Telesys--$37.08; +1.02; optionable): Russian wireless telecom
http://biz.yahoo.com/p/m/mbt.html
STATUS: Double bottom w/handle. Nice 14 week base has formed using the 200 day SMA (32.51) as support. Nicely formed pattern just below its all-time high; it needed a breather after making the high, and this is doing the job quite nicely. Solid 5 to 3 accumulation in the base shows net buyers. Split in early January and continued forming its base. Nice price move Friday, but volume was not there yet. Looks ready to make the breakout.
Volume: 1.282M Avg Volume: 2.597M
BUY POINT: $37.55 Volume=3.9M Target=$44 Stop=$35.89
POSITION: MBT FU - June $37.50c (83 delta) &/or Stock
http://www.investmenthouse.com/ct/mbt.html
Play Date: 02/12/2005
NTAP (Network Appliance--$32.54; +1.75; optionable): Data storage devices
http://biz.yahoo.com/p/n/ntap.html
After Hours: $32.52
STATUS: Test 50 day EMA. NTAP broke out from an 11 month base in November, gapping higher when it reported strong earnings. It rallied on into mid-December near 35 and then slipped into the current 10 week base that has used the 50 day EMA (31.04) the past 4 weeks as support. Volume was very low as it worked laterally along that key support, and then Friday it jumped up to average as the stock jumped off the 50 day. Strong money flow is leading. Looking to start a position as NTAP continues this move and then again as it makes a breakout, preferably after a handle forms near 34.
Volume: 5.667M Avg Volume: 5.318M
BUY POINT: $32.88 Volume=8M Target=$39 Stop=$31.45
POSITION: NUL FF - June $30c (76 delta) &/or Stock
http://www.investmenthouse.com/ct/ntap.html
CONTINUING PLAYS:
Not yet entered:
Play Date: 02/05/2005
BSC (Bear Stearns--$104.05; +0.46; optionable): Brokerage
http://biz.yahoo.com/p/b/bsc.html
STATUS: 50 day EMA test. BSC continues to work higher but volume has not moved with it. That is how these financial stocks work at times, but we want to see a good session of volume on an upside session to enter. To recap: BSC has tested the 50 day EMA (102.34) as part of the test of a nice breakout in late September from a seven month cup with handle base. It rallied up the 18 day EMA to mid-December and then started the current test. After 9 weeks of low volume, very orderly selling, volume it looks ready to start the move higher. Again, needs to show us one good volume shot. Using options to get the best leverage.
Volume: 618.6K Avg Volume: 996.454K
BUY POINT: New: $104.22 (orig. $103.35) Volume=1.2M Target=$112 Stop=$100.95
POSITION: BSC DT - Apr. $100c (79 delta)
http://www.investmenthouse.com/ct/bsc.html
Play Date: 02/05/2005
GET (Gaylord Entertainment--$40.1; +0.85; optionable): Large group meetings hotels
http://biz.yahoo.com/p/g/get.html
STATUS: 50 day EMA test. Volume was up to average Friday as GET moved off of the 50 day EMA (38.99) after another test of that level on lower, below average volume. Now this looks very interesting, and we look for GET to make the break higher this week. To recap: GET broke out of an 8 month base in late October and rallied sharply up the 18 day EMA as a strong breakout will do. After five bounces off the 18 day EMA it needed a test of the move. It came back to the 50 day EMA, the support that is the secondary support in a continuing breakout move. Strong stocks will hold that level and start the next breakout run up the 18 day. Good accumulation even during this pullback (3 to 1) shows buyers still moving in. Strong money flow continues to move higher ahead of price.
Volume: 225.1K Avg Volume: 198.681K
BUY POINT: $40.89 Volume=300K Target=$47 Stop=$39.47
POSITION: GET GH - July $40c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/get.html
Play Date: 02/07/2005
PRZ (Paincare Holdings--$4.04; -0.07; no options): Hospitals
http://biz.yahoo.com/p/p/prz.html
STATUS: Test breakout. After the breakout attempt Tuesday, PRZ faded back to the 18 day EMA (3.89) once again. Lower volume on the pullback, so no distribution. Just another low volume pullback. To recap: PRZ was a new issue in June of 2003; a relative youngster in the market. It formed a 12 month base and exploded higher in December, breaking out on some very strong volume. It is making its second test of the breakout. Positive 6 to 4 accumulation (6 up price weeks on rising volume to 4 down price weeks on rising volume) in the latter part of the base, indicating net buying. That set up the breakout and it came through. Strong stocks make 4 to 5 such bounces off the 18 day EMA before needing a deeper test. That leaves plenty of upside left for PRZ. That also puts it at a new all-time high and there is no overhead resistance from disgruntled shareholders. Most shareholders at this point are pretty 'gruntled' given the strong run.
Volume: 355.6K Avg Volume: 209.363K
BUY POINT: $4.34 Volume=350K Target=$5.25 Stop=$4.04
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/prz.html
Play Date: 01/12/2005
TOO (Too, Inc.--$27.24; +0.26; optionable): The Limited for smaller fry.
http://biz.yahoo.com/p/t/too.html
STATUS: Flat base. Waiting, waiting, waiting. TOO continues to hold a tight lateral line over the 18 day EMA (26.86) for the past 4 weeks as it consolidates the early January strong break higher. It looks ready, it just needs to make the move. To recap: TOO broke out from a 5.5 month cup base in September and rallied into December. After a nice run up the 18 day EMA it came back to test the 50 day EMA (25.77) in December. Strong sales blasted the stock higher in early January when it reported very strong sales. It has moved laterally since, consolidating the gain and holding the 18 day EMA. Waiting for the volume to spike and send it to the next leg of the breakout.
Volume: 204.4K Avg Volume: 726.09K
BUY POINT: New: $27.48 (orig. $27.05) Volume=1M Target=$32.55 Stop=$26.05
POSITION: TOO EX - May $25c (75 delta) &/or Stock
http://www.investmenthouse.com/ct/too.html
Play Date: 02/08/2005
URBN (Urban Outfitters--$43.38; +0.31; optionable): Teen apparel stores
http://biz.yahoo.com/p/u/urbn.html
STATUS: Double bottom. This pattern is getting better with each passing session. URBN showed another low volume doji right over the 18 day EMA (42.35) as it forms a handle to its 12 week pattern. After this low volume handle it looks ready to make the breakout attempt. To recap: After a strong 19 month rally up the 50 day EMA URBN needed a breather. This base is letting it catch its breath by weeding out the sellers and setting up the next break higher. A perennial market leader; it formed the base around the 50 day EMA, an important institutional support point where the big money comes in to pick up more positions. URBN has rallied back up to the 'hump' in the 12 week pattern and is now forming the handle. When it moves over that point on volume that will be our initial buy point.
Volume: 504.608K Avg Volume: 1.278M
BUY POINT: $45.42 Volume=1.9M Target=$55 Stop=$44.22
POSITION: URQ FI - June $45c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/urbn.html
Play Date: 02/09/2005
XXIA (Ixia--$18.02; +0.31; optionable): Semiconductor equipment
http://biz.yahoo.com/p/x/xxia.html
After Hours: $18.06
STATUS: Breakout test. Volume was back above average Friday as XXIA bangs its head at the 18 day EMA, the recent resistance level after the strong break higher a week back. The stronger volume Friday looks promising for a resumption of the breakout move. To recap: A relatively new issue (4 years old), XXIA broke out from a big 11 month cup with handle base in late November, moving on strong volume. It rallied higher into the end of December but then got caught up in the market selling, falling back to the 50 day EMA (15.00). It regrouped at that level, using all January to do so. It then blasted higher last week on news of strong earnings results and has been moving laterally to consolidate that move. Strong money flow is leading the way higher and relative strength is ready for the next breakout.
Volume: 1.005M Avg Volume: 705.545K
BUY POINT: $18.14 Volume=1.1M Target=$21.54 Stop=$16.87
POSITION: UJC EC - May $15c (77 delta) &/or Stock
http://www.investmenthouse.com/ct/xxia.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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us stock market
stock split
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