online investment information, Breakout test

Begin part 3 of 3

THE PLAYS

Good movers: AV; MHP; QCOM

Monday night play results:
CNTY: Held up well in the market selling, continuing its handle.
SCHL: Still in the very nice breakout test, holding the 18 day EMA.
URBN: Sold back some but on low volume.
AV: Dive, dive, dive. Heading lower fast.
FAST: Speaking of fast, FAST continued its move lower on above average volume.

New Plays:

Upside:

Play Date: 03/29/2005
CMCSA (Comcast--$33.87; +0.73; optionable): Cable TV systems.
http://biz.yahoo.com/p/c/cmcsa.html
After Hours: $33.95
STATUS: Cup w/handle. CMCSA is making the breakout move on strong, above average volume. A nicely formed 15 month base sporting strong 18 to 9 accumulation (18 up price weeks on rising volume to 9 down price weeks on rising volume) shows plenty of buying. Excellent action in a weak market. Looking to move in on a break over the recent highs. Solid.
Volume: 8.748M Avg Volume: 7.71M
BUY POINT: $34.48 Volume=7.5M Target=$39 Stop=$44.42
POSITION: CCQ GZ - July $32.50c (68 delta)
http://www.investmenthouse.com/ci/cmcsa.html

Downside:

Play Date: 03/29/2005
AN (Autonation--$18.82; -0.20; optionable): Auto dealerships
http://biz.yahoo.com/p/a/an.html
STATUS: Put. Double topped in February and March at 20 then crashed through the 50 day EMA (19.14) last week. A low volume rebound has carried back up to test that level, doing so Monday on the intraday high. Tuesday it rolled over on stronger, above average volume. Failed test, the old kiss goodbye and ready to follow the money flow lower. A move to the target nets us a 41%ish gain.
Volume: 1.752M Avg Volume: 1.165M
BUY POINT: $18.75 Volume=1.1M Target=$17.73 Stop=$19.15
POSITION: AN QD - May $20p (-60 delta)
http://www.investmenthouse.com/ci/an.html

Play Date: 03/29/2005
ESV (Ensco Intl.--$36.03; -0.87; optionable): Oil and gas drilling
http://biz.yahoo.com/p/e/esv.html
STATUS: Put. Familiar pattern in the energy stocks, a double top in late February and early March then fading to the 50 day EMA 36.76) on mostly above average volume. It has struggled to hold that level the past four sessions, just as the major indices did before they broke lower. Tried to rally Tuesday, moving up to the 18 day EMA (37.67) on the intraday high and then rolling over on rising, above average volume. Money flow is leading lower ahead of price, and we are looking for ESV to follow it on down. A move to the target gets us a 45%ish gain.
Volume: 2.409M Avg Volume: 2.275M
BUY POINT: $35.88 Volume=2.3M Target=$33.84 Stop=$36.44
POSITION: ESV QG - May $35p (-36 delta)
http://www.investmenthouse.com/ci/esv.html

Play Date: 03/29/2005
RRC (Range Resources--$22.85; -0.84; optionable): Independent oil and gas
http://biz.yahoo.com/p/r/rrc.html
STATUS: Put. After a double top to end February and in mid-March and RRC is breaking through the 50 day EMA (23.14) on rising, above average volume. As with many energy stocks it is under pressure, but they have the ability to turn right back up after a hard fall. Looking to step in on a further move lower on continued solid downside trade. A move to the targets nets us a 50%ish gain.
Volume: 750.5K Avg Volume: 700K
BUY POINT: $22.74 Volume=700K Target=$21.22 Stop=$23.34
POSITION: RRC QX - May $22.50p (-45 delta)
http://www.investmenthouse.com/ci/rrc.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.

online investment information
Breakout test