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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: CHTT; CNX; CRZO; LCAV; NMG.A; PWI; TTEC; USU; VLO
Wednesday night play results:
BY: Still in the nice test of the breakout.
CHTT: Nice break higher on continued solid volume.
JOYG: Nice test continues.
USU: Nice break higher on volume.
New Plays:
Upside:
Play Date: 03/17/2005
LNCR (Lincare Holdings--$41.43; +0.83; optionable): Specialized health services
http://biz.yahoo.com/p/l/lncr.html
After Hours: $41.51
STATUS: Flat base. Moving off the 50 day EMA (40.30) Tuesday, but volume was not there yet. Nice 12 week pattern formed along the 50 day, an important support level. It has ignored the selling, a good indication of solid support. Solid 3 to 1 accumulation in the base (3 up price weeks on rising volume to 1 down price weeks on rising volume) shows a lot of buying in the base. Looking for volume as it clears the recent highs near 42.
Volume: 687.569K Avg Volume: 810.181K
BUY POINT: $41.95 Volume=1.2M Target=$48 Stop=$40.39
POSITION: LQN HT - Aug. $42.50c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/lncr.html
Play Date: 03/17/2005
PD (Phelps Dodge--$107.32; +2.72; optionable): Copper
http://biz.yahoo.com/p/p/pd.html
STATUS: Breakout test. They say the economy is built with a copper roof, and PD is in good position to make the move to the next roof (had to try and work that one in). Thursday it was up off the 18 day EMA (103.68) on stronger, average trade as it starts to resume its breakout move. It jumped higher in late February on strong trade, breaking out from a 5 month ascending base. It moved laterally the past three weeks, holding the 18 day as the oils and materials went through a consolidation/correction. PD did not correct, just caught its breath. Looks ready to resume the run as relative strength broke out today ahead of the stock as it moved higher. Looking to move in as it continues the move on some even better volume.
Volume: 2.594M Avg Volume: 2.248M
BUY POINT: $107.65 Volume=2.6M Target=$120.55 Stop=$104.74
POSITION: PD GB - July $110c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/pd.html
Play Date: 03/17/2005
PRZ (Paincare Holdings--$4.14; +0.02; no options): Hospitals
http://biz.yahoo.com/p/p/prz.html
STATUS: Double bottom w/handle. A very short but unmistakable double bottom with handle has formed using the 50 day EMA (3.79) as the support for the two bottoms. Nice 2 to 0 accumulation in the base (2 up price weeks on rising volume to 0 down price weeks on rising volume) shows all buyers as it consolidates right at an all-time high. A new issue in mid-2003, it looks good with strong money flow. Relative strength is ready to make the breakout as well. Solid.
Volume: 228.7K Avg Volume: 361.181K
BUY POINT: $4.27 Volume=542K Target=$5.34 Stop=$4.01
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/prz.html
Play Date: 03/17/2005
TDY (Teledyne Technologies--$32.29; +1.09; optionable): Technical services
http://biz.yahoo.com/p/t/tdy.html
STATUS: 50 day EMA test. Strong volume Thursday as TDY moved off the 50 day EMA (30.54), continuing the breakout from its 12 week cup with handle base. It broke to a new closing high Thursday in a weak market. Strong 5 to 2 accumulation in the pattern. Relative strength is making the breakout as well, a very strong confirmation of the breakout move.
Volume: 251.1K Avg Volume: 193.545K
BUY POINT: $32.41 Volume=290K Target=$38 Stop=$31.32
POSITION: TDY GF - July $30c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/tdy.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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trade stock
stock recommendation
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