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Begin part 3 of 3
THE PLAYS
Good movers Tuesday: AAPL; DADE; ZQK; PUMP
Monday night play results:
DOX: Still working on the nice breakout test.
EPIC: Gapped higher but the volume was not there yet. Still ready.
IR: Another nice low volume session in the handle.
JCOM: Continuing higher on volume.
New Plays:
Upside:
Play Date: 02/15/2005
AYE (Allegheny Energy--$20.04; +0.29; optionable): Electric utilities
http://biz.yahoo.com/p/a/aye.html
STATUS: Flat base. AYE has been rolling up and down in a trading range between 18 and 20 the past 14 weeks. The 50 day EMA (19.13) is acting as support as well. It made a higher low the past week, holding at 19 and bouncing higher Tuesday on strong, above average volume. That indicates it is going for the breakout this time as opposed to rolling back down. Excellent money flow is leading higher as AYE moves toward a 2 year high. Looking for the strong volume to continue as AYE continues the breakout move.
Volume: 1.125M Avg Volume: 730.909K
BUY POINT: $20.25 Volume=1.1M Target=$23 Stop=$19.38
POSITION: AYE GD - July $20c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/aye.html
Play Date: 02/15/2005
COGN (Cognos--$43.94; +0.91; optionable): Application software
http://biz.yahoo.com/p/c/cogn.html
STATUS: Cup w/handle. Volume surged Tuesday as COGN moved toward the breakout from a short 7 week base that formed over the 50 day EMA (41.81). This breakout will take it to a new all-time high, something we like because there is no overhead resistance to push it back down. Accumulation is excellent at 3 to 0 (3 up price weeks on rising volume to 0 down price weeks on rising volume), showing all buyers as it sets up for the next breakout move. A perennial leader, COGN is ready to go again.
Volume: 1.478M Avg Volume: 803.272K
BUY POINT: $44.11 Volume=1M Target=$50 Stop=$42.65
POSITION: CRQ EV - May $42.50c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/cogn.html
Play Date: 02/15/2005
LH (Laboratory Corp.--$49.67; +0.82; optionable): Medical labs
http://biz.yahoo.com/p/l/lh.html
STATUS: Double bottom w/handle. LH has formed a nice 8 week base right over the 50 day EMA (48.24), a level where the big money that likes the stock steps in to support it. It has held up and formed the current base following the breakout and run from a bigger 8 month base. After this very well formed consolidation it has caught its breath and is now ready to move again. Strong volume Tuesday indicates it is ready to move. Accumulation is positive at 3 to 2. Money flow is excellent.
Volume: 3.324M Avg Volume: 661.136K
BUY POINT: $50.11 Volume=800K Target=$56 Stop=$48.78
POSITION: LH EJ - May $50c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/lh.html
Play Date: 02/15/2005
SSNC (SSS&C Technologies--$23.16; +0.79; optionable): Application software
http://biz.yahoo.com/p/s/ssnc.html
STATUS: Saucer w/handle. SSNC looks ready for the breakout from the current 14 wee base that has formed as SSNC builds its second move off the bottom of a long base that started in March. Volume has spiked up on several occasions the past few weeks. An excellent consolidation to end the pattern in a tight range, and then jumping higher Tuesday on a strong volume shot. Great money flow leading the way higher. Positive 3 to 2 accumulation in the base shows net buying. Looks ready to make the next move higher in the pattern.
Volume: 290.926K Avg Volume: 142.772K
BUY POINT: $23.42 Volume=214K Target=$28 Stop=$22.08
POSITION: QUN GX - July $22.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/ssnc.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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