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Begin part 3 of 3

THE PLAYS

Good movers Thursday: BXH; CRZO; GET; INNO; CNF

Wednesday night play results:
ATI: Turned down to the 18 day EMA, but on lower volume. Still in the pattern.
EAGL: Testing the 50 day EMA as it sets up for the breakout.
MSCC: Volume was up as it continues forming the handle.
TSO: Fell back after the strong Wednesday break higher.

New Plays:

Upside:

Play Date: 02/17/2005
COGT (Cogent Systems--$32.24; +0.18; optionable): Business software
http://biz.yahoo.com/p/c/cogt.html
After Hours: $32.16
STATUS: Cup w/handle. A new issue in October. A strong move in November double COGT's price. It has since fallen into the current 12 week base, roughly using the 50 day EMA (30.08) as support. Accumulation is positive at 3 to 2 (3 up price weeks on rising volume to 2 down price weeks on rising volume), showing net buying in the base. We love the first base a stock forms after its IPO; it shakes out the early sellers and sets the stage for the next strong move.
Volume: 664.943K Avg Volume: 584.409K
BUY POINT: $33.05 Volume=877K Target=$39.95 Stop=$31.04
POSITION: QAO FF - June $30c (71 delta) &/or Stock
http://www.investmenthouse.com/ci/cogt.html

Play Date: 02/17/2005
COH (Coach--$54.91; +0.51; optionable): Upscale apparel. Splits 2:1 on 4-5-05
http://biz.yahoo.com/p/c/coh.html
STATUS: Test 50 day EMA. Working laterally the past 7 weeks after a strong breakout and rally into the end of the year. It has worked laterally and toward the 50 day, digesting the gains and preparing for the next break higher. The past two sessions volume has moved up to average, indicating it is ready to make a run off this important support level. With a stock such as COH it should hold the 50 day as the big money steps in to support it. Looking for a strong break above the 50 day SMA (55.03) to move in.
Volume: 1.409M Avg Volume: 1.36M
BUY POINT: $55.21 Volume=2M Target=$60.45 Stop=$54.38
POSITION: COH EK - May $55c (54 delta)
http://www.investmenthouse.com/ci/coh.html

Downside:

Play Date: 02/17/2005
CCMP (Cabot Microelectronics--$32.56; -1.08; optionable): Chemicals used for semiconductor manufacture.
http://biz.yahoo.com/p/c/ccmp.html
STATUS: Put. Double topped in November and December and then started to crash lower. It gapped below the 200 day SMA (33.65) in late January, dropping to 28 on the lows. It fought back the past three weeks to the 200 day but then failed several attempts to move over that level. Thursday it turned lower on rising though still below average volume. Looks ready to roll back over and continue the selling. A move to the target ntes us a 40%ish gain.
Volume: 690.577K Avg Volume: 724.09K
BUY POINT: $32.35 Volume=875K Target=$30.15 Stop=$33.05
POSITION: UKR OG - Mar. $35p (-70 delta)
http://www.investmenthouse.com/ci/ccmp.html

Play Date: 02/17/2005
JNPR (Juniper Networks--$22.45; -0.51; optionable): PC networking
http://biz.yahoo.com/p/j/jnpr.html
After Hours: $22.52
STATUS: Put. JNPR is in a continuing downtrend below the 10 and 18 day EMA (23.31, 23.79) that started at the peak in early December. After rebounding up toward the 18 day this month, it failed its attempt to break through. Thursday JNPR turned lower on slightly rising volume (though still below average volume). Looks ready to continue the selling as it follows money flow lower and lower. A move to the target gets us a 40%ish gain.
Volume: 7.018M Avg Volume: 8.657M
BUY POINT: $22.34 Volume=9M Target=$21.05 Stop=$22.75
POSITION: JUX PX - Apr. $22.50p (-47 delta)
http://www.investmenthouse.com/ci/jnpr.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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