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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good movers: ABRX; MON; SYNC; ULTI
Tuesday night play results:
CMCSA: Good volume once more but despite the market running it held flat.
RRGB: Strong volume once more but it too held steady. Still a nice pattern.
AN: Still looks ready to roll lower.
ESV: Moved down sharply before and after the oil news but it recovered doggedly with oil prices.
RRC: Same story here.
New Plays:
Upside:
Play Date: 03/30/2005
HCR (Manor Care--$36.10; +0.87; optionable): Long-term care facilities
http://biz.yahoo.com/p/h/hcr.html
STATUS: Cup w/handle. Volume has jumped the past two sessions, and HCR started the breakout move Wednesday, moving out of its 16 week base that is acting as the handle to a much larger 14 month cup with handle. Excellent 6 to 0 accumulation in the base (6 up price weeks on rising volume to 0 down price weeks on rising volume) shows solid buying as it set up for the breakout to take it toward a new all time high. Excellent money flow is leading higher and relative strength is making the breakout as well, a good corroboration of the breakout that is ready to happen.
Volume: 705.7K Avg Volume: 569.363K
BUY POINT: $36.24 Volume=750K Target=$41.45 Stop=$35.05
POSITION: HCR HG - Aug. $35c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/hcr.html
Play Date: 03/30/2005
INFA (Informatica--$8.37; +0.35; optionable): Business software
http://biz.yahoo.com/p/i/infa.html
After Hours: $8.39
STATUS: Double bottom w/handle. Volume was up again as INFA started off the 10 day EMA (8.01) that acted as support in the handle of the 14 week base. Positive accumulation shows net buyers in the pattern that formed using the 200 day SMA (7.04) as support for the legs of the pattern. Money flow is blasting off ahead of price and relative strength has already made the breakout, a very good sign that the stock is ready to follow. This is the first base after coming off the lows of a 15 month base. Looks solid and ready to break higher and make us a good gain.
Volume: 1.58M Avg Volume: 959.863K
BUY POINT: $8.55 Volume=1.4M Target=$10.22 Stop=$8.24
POSITION: UYF FU - June $7.50c (81 delta) &/or Stock
http://www.investmenthouse.com/ci/infa.html
Play Date: 03/30/2005
MATR (Matria Healthcare--$30.26; +0.69; optionable): Home health care
http://biz.yahoo.com/p/m/matr.html
STATUS: Cup w/handle. A short but nice 8 week base has formed over key support at the 50 day EMA (28.43) as it sets up for a breakout to a new all-time high. Excellent 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume) shows all buying as it sets up for the move. Strong money flow is leading higher and relative strength is ready to make a breakout as well, a good corroboration of any breakout move. It formed this base right after it split, not atypical action. We like to look at post split plays after their first base following the split as that resets the clock so to speak and they make the next move higher.
Volume: 64.915K Avg Volume: 235.409K
BUY POINT: $30.64 Volume=353K Target=$36.85 Stop=$29.11
POSITION: PQT FF - June $30c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/matr.html
Play Date: 03/30/2005
PSUN (Pacific Sunwear--$27.20; +0.69; optionable): Apparel stores
http://biz.yahoo.com/p/p/psun.html
After Hours: $27.24
STATUS: Test 50 day EMA (26.04). PSUN Surged higher to start March, gapping and running to 29 on news of surging February sales. It has come back this month to fully test that move, holding the 50 day EMA this past week, filling the early March gap higher. It broke out from a nice 16 week base, and this test, though deep, has held over the top of that base. That is a sign of strength. Money flow has turned back higher ahead of price. Volume was not where it needed to be Wednesday when the stock bounced, but it looks ready to follow the money higher.
Volume: 1.172M Avg Volume: 1.481M
BUY POINT: $27.55 Volume=2M Target=$33 Stop=$26.85
POSITION: PVQ IE - Sept. $25c (82 delta) &/or Stock
http://www.investmenthouse.com/ci/psun.html
Continuing:
Play Date: 03/23/2005
CMVT (Comverse Technology--$25.45; +0.55; optionable): Telecom systems
http://biz.yahoo.com/p/c/cmvt.html
After Hours: $25.45
STATUS: Test breakout. Moved the buy point to allow it to clear resistance that has formed the past two weeks. Looks super and ready to continue the break higher from its 12 week cup with handle base.
Volume: 2.282M Avg Volume: 2.11M
BUY POINT: $25.62 Volume=3M Target=$29.55 Stop=$24.88
POSITION: CQV GE - July $25c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/cmvt.html
Downside:
Going to let them set up with a further rebound.
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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us stock market
stock split
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