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Begin part 3 of 3

THE PLAYS

Good movers: ABRX; AFFX; CTSH; ENER; PIXR; TBL; URBN; ATYT; LRCX

Monday night play results:
GR: Tried to run again but closed flat on lower, below average volume trade.
TBL: TBL: Nice move.
ATYT: Nice move lower.
LRCX: High volume as it runs from the 50 day EMA.

New Plays:

Upside:

Play Date: 04/05/2005
CLHB (Clean Harbors--$19.77; +0.60; optionable): Waste management
http://biz.yahoo.com/p/c/clhb.html
STATUS: Double bottom w/handle. Sweet little 10 week base has formed using the 50 day EMA (18.04) as support, showing the buyers stepping up to support it as it formed the pattern over that key support level. Volume was up Tuesday as CLHB continued the move up off the 50 day, heading for the breakout. Excellent money flow is surging higher ahead of price and relative strength is ready to breakout as well. Very nice and looking for volume to continue as it moves through the buy point.
Volume: 214.001K Avg Volume: 154.681K
BUY POINT: $20.05 Volume=235K Target=$23.97 Stop=$18.88
POSITION: QPB GD - July $20c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/clhb.html

Play Date: 04/05/2005
ISRG (Intuitive Surgical--$48.15; +2.27; optionable): Medical appliances
http://biz.yahoo.com/p/i/isrg.html
After Hours: $48.15
STATUS: Cup. ISRG started surging Tuesday on continued average volume. It is making the breakout from an 8 week cup base that is consolidating a gap higher in early February on strong earnings. It used the base to fill the gap; it consolidated the gain nicely as it shows solid 3 to 1 accumulation (3 up price weeks on rising volume to 1 down price weeks on rising volume). More buyers than sellers, strong money flow, and relative strength making the breakout move ahead of the stock, a very good indication the stock will follow.
Volume: 510.883K Avg Volume: 560.5K
BUY POINT: $48.36 Volume=841K Target=$55 Stop=$46.55
POSITION: AXQ GJ - July $50c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/isrg.html

Current plays ready for new buys:

Play Date: 04/05/2005
CTSH (Cognizant Technology--$47.96; +1.50; optionable): Custom IT services for Fortune 1,000 companies
http://biz.yahoo.com/p/c/ctsh.html
After Hours: $48
STATUS: Cup. CTSH was up off the 18 day EMA (45.97) Tuesday as volume moved back toward average. It is looking at the breakout of a short 6 week cup that formed during the March selling. CTSH in true leadership fashion, held up very well, using the selling to consolidate its early February breakout. It has reset and we are looking to pick up some more positions as it moves through the buy point on solid trade.
Volume: 1.595M Avg Volume: 1.86M
BUY POINT: $48.25 Volume=2.2M Target=$55 Stop=$45.84
POSITION: UPU GI - July $45c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/ctsh.html

Downside:

Play Date: 04/04/2005
NCR (NCR Corp.--$34.77; +0.61; optionable): ITS software
http://biz.yahoo.com/p/n/ncr.html
STATUS: Put. NCR collapsed below the 50 day EMA (36.46) 6 sessions back, imploding on huge volume. It checked up near the January low and has rebounded, but volume has been lower and lower and below average as it made the move. It has not made it all the way back up to the 10 day EMA (35.29), but it has made three low volume moves up in recovery. If it rolls over here on strong trade we will look to start some positions for the move back down. Money flow is in the tank and we are looking for it to follow it back lower. A move to the target gets us a 50%ish gain.
Volume: 1.629M Avg Volume: 1.86M
BUY POINT: $34.54 Volume=2.8M Target=$32 Stop=$35.29
POSITION: NCR QE - May $35p (-57 delta)
http://www.investmenthouse.com/ci/ncr.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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