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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: ANTP; CHTT; CRZO; ENER; PIXR; PSUN; ULTI; MHP, LF
Wednesday night play results:
HCR: Was probably good enough to enter but it was up and down all session so we waited.
INFA: Held steady on lower volume. Still poised to move.
MATR: Needs a bit more volume.
PSUN: Nice volume move higher.
CMVT: Held basically steady on low, below average volume.
New Plays:
Upside:
Play Date: 03/31/2005
CBI (Chicago Bridge & Iron--$44.03; +0.99; optionable): General contractors. Splits 2:1 on 4-1-05
http://biz.yahoo.com/p/c/cbi.html
STATUS: Test 50 day EMA. CBI broke out in November from a 10 month cup base, and this is its second test of the 50 day EMA (42.92) after that move. A nice low volume test of this key support level with volume surging Thursday as the stock jumped off support after showing a nice, tight doji at that level Wednesday. A solid leader that took a breather at key support and looks ready to move. Using options on this rebound to leverage our gain.
Volume: 567.7K Avg Volume: 222.227K
BUY POINT: $44.64 Volume=250K Target=$50 Stop=$42.78
POSITION: CBI GV - July $42.50c (64 delta)
http://www.investmenthouse.com/ci/cbi.html
Play Date: 03/31/2005
IMDC (Inamed--$69.88; -0.12; optionable): Medical appliances. Forecast to announce a split in May. Researching to pinpoint the date.
BACKGROUND: Last announced a 3:2 split on 11-4-03 at $87.60.
http://biz.yahoo.com/p/i/imdc.html
STATUS: Double bottom w/handle. IMDC may have to run some to get to split price, but we like the short 7 week base that has formed over the 50 day EMA (67.51). This small consolidation follows the January breakout from a larger 6 month base and run to 72.50. Nice 6 to 3 accumulation (6 up price weeks on rising volume to 3 down price weeks on rising volume) shows net buyers, and the low volume as it moves sideways shows few sellers. Nice, tight handle the past week over the 10 day EMA (69.16) is weeding out the last sellers. Getting ready to make the move and follow the sharply rising money flow higher.
Volume: 185.254K Avg Volume: 361.181K
BUY POINT: $70.44 Volume=600K Target=$80 Stop=$69.05
POSITION: UZI GN - July $70c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/imdc.html
Play Date: 03/31/2005
NGPS (Novatel--$20.90; +2.02; no options): Scientific and technical instruments
http://biz.yahoo.com/p/n/ngps.html
After Hours: $20.90
STATUS: Test 200 day SMA. This one looks a lot like ANTP both in pattern and in its ability to gobble up real estate in a hurry. A tremendous surge from November through December more than tripled the price. It crashed back to earth like a stone, giving back the move with a classic blow off top on huge volume. It found support at the 200 day SMA 18.07), showing the big money did not totally abandon it. After a 4 week lateral move at that level volume started to spike this past week. Thursday it leapt off the 200 day on a big volume surge. It cleared the 50 day EMA (20.38) on the Thursday close, and we are looking to move in on a further volume move higher to catch the momentum.
Volume: 3.425M Avg Volume: 1.498M
BUY POINT: $21.22 Volume=2.2M Target=$25.48 Stop=$19.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ngps.html
Play Date: 03/31/2005
WGII (Washington Group--$44.99; +0.03; optionable): Technical services
http://biz.yahoo.com/p/w/wgii.html
After Hours: $45.01
STATUS: Breakout test. WGII broke out from a 9 month cup with handle in November and has run well up the 50 day EMA (42.85) since. It jumped last week on strong volume and then has faded this week to the 10 day EMA (44.65) on lower volume It has held at this level and with surging money flow we are looking for another run from here.
Volume: 786.858K Avg Volume: 317.59K
BUY POINT: $45.35 Volume=475K Target=$49.75 Stop=$44.55
POSITION: QUG II - Sept. $45c (57 delta)
http://www.investmenthouse.com/ci/wgii.html
Downside:
Play Date: 03/31/2005
JILL (J. Jill Group--$13.76; +0.47; optionable): Catalog and mail order houses
http://biz.yahoo.com/p/j/jill.html
After Hours: $13.76
STATUS: Put. JILL peaked in June and has trended lower since, bouncing down the 50 day EMA (13.96). It gapped sharply lower three weeks back on strong volume, and has fought its way back to the 50 day on low, below average volume. Still under heavy distribution and we anticipate that it is going to turn back over here. A move down to the buy point nets us a 44%ish gain.
Volume: 283.434K Avg Volume: 427.818K
BUY POINT: $13.54 Volume=425K Target=$12.25 Stop=$13.98
POSITION: JUI QC - May $15p (-70 delta)
http://www.investmenthouse.com/ci/jill.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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stock split
stock recommendation
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