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Begin part 3 of 3
THE PLAYS
Good movers Wednesday: MDRX; VPI; EYET
Tuesday night play results:
IHP: Jumped higher but ran out of steam. Still ready.
PWI: Starting off the 18 day EMA. Just needs some volume.
ALVR: Started lower but rebounded on the close.
FLO: Held steady on low volume.
New Plays:
Upside:
Play Date: 02/23/2005
GOOG (Google--$193.95; +2.58; optionable): Internet search
http://biz.yahoo.com/p/g/goog.html
After Hours: $194.20
STATUS: Test 50 day EMA. GOOG has moved in a trading range roughly from the 50 day EMA (189.59) and 205 the past 9 weeks. It bolted higher in early February on strong earnings, but fears about the lockup expiring sent it back down to the 50 day. It has held that level and has moved laterally between the 50 day and 200 the past week. Volume started to move higher this week, jumping Wednesday as GOOG tapped the 50 day EMA on the low and rebounded to close positive. Looking for a strong volume blast to take it through the buy point and break it higher.
Volume: 15.651M Avg Volume: 10.356M
BUY POINT: $196.12 Volume=16M Target=$210 Stop=$189.38
POSITION: GOU DS - Apr. $195c (54 delta)
http://www.investmenthouse.com/ci/goog.html
Play Date: 02/23/2005
JOYG (Joy Global--$29.55; +0.38; optionable): Farm and construction machinery
http://biz.yahoo.com/p/j/joyg.html
After Hours: $29.55
STATUS: Cup w/handle. Volume spiked Wednesday as JOYG made the breakout bid from its 8 week base that has formed using the 50 day EMA (28.08) as support. That is a key institutional support level where the big money moves in to pick up shares of stock. It held and has now moved laterally, using the 18 day EMA (29.14) as support in the handle, the point where it shakes out the last sellers. Excellent 3 to 0 accumulation in the base shows all buyers as the stock consolidated. Strong money flow and relative strength ready for the breakout. Recently split and moved right on up through it; strong earnings and a leader.
Volume: 1.355M Avg Volume: 710.045K
BUY POINT: $30.15 Volume=1.1M Target=$35 Stop=$28.89
POSITION: JQY GF - July $30c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/joyg.html
Play Date: 02/23/2005
OII (Oceaneering Intl.--$40.31; +0.31; optionable): Oil & gas drilling and exploration
http://biz.yahoo.com/p/o/oii.html
STATUS: Breakout test. OII broke out from a 4 month trading range to start the month, rallying up near 42 on the move. It has moved back to the 10 day EMA (39.85) the past week, testing the breakout but refusing to give up ground. Solid 4 to 2 accumulation in the base shows good net buying. The base also formed along the 50 day EMA (38.02), a key support level that shows committed holders. Ready for another volume spike to continue the breakout move.
Volume: 205.2K Avg Volume: 177.681K
BUY POINT: $40.62 Volume=267K Target=$46 Stop=$39.64
POSITION: OII GH - July $40c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/oii.html
Downside:
Play Date: 02/23/2005
JAKK (Jakks Pacific--$19.89; -1.09; optionable): Design and marketing of toys
http://biz.yahoo.com/p/j/jakk.html
After Hours: $19.93
STATUS: Put. A very volatile stock the past 5 months, JAKK has a habit of gapping, mostly to the downside. After a major meltdown in October, it has fought its way back up to the prior high at 24 just to get spanked lower once more. It gapped down earlier this month, tried to recover Tuesday with a big gap higher, but it reversed and gave the move back. It was selling again Wednesday on continued above average volume, cracking the 200 day SMA (19.98). Looking to move in on further selling.
Volume: 1.019M Avg Volume: 383.5K
BUY POINT: $19.77 Volume=575K Target=$18.25 Stop=$20.14
POSITION: UFF RD - Apr. $20p (-45 delta)
http://www.investmenthouse.com/ci/jakk.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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