us stock market, stock split

Begin part 3 of 3

THE PLAYS

Good movers: ANTP; CHTT; SHLD; AN; ATYT; LF; MUSA; LRCX

Weekend play results:
AAPL: Started higher then rolled over on higher volume.
GME: Not great action, slipping below the 18 day EMA on continued low volume.
PIXR: Holding at the 10 day EMA still as volume edges higher.
WFR: Still holding the 50 day EMA on low volume as the nice test continues.
MUSA: Fell on rising volume.
SYK: Tapped the 18 day EMA on the high and closed at the low. Getting ready to fall.

New Plays:

New position on continuing upside:

Play Date: 04/11/2005
CHTT (Chattem--$44.28; +1.26; optionable): Drugs
http://biz.yahoo.com/p/c/chtt.html
After Hours: $44.18
STATUS: Test 18 day EMA. A real market leader, CHTT exploded higher in late March as it shot out of a short 6 week cup with handle. It rallied to 46, giving us a great gain. It has come back to test that move on lower volume, then found support Monday above the 18 day EMA (42.35). Volume jumped as it bounded higher again. Ready to move in with new positions on a further move on decent trade. Excellent money flow and relative strength is ready to breakout once more.
Volume: 524.922K Avg Volume: 195.272K
BUY POINT: $44.45 Volume=300K Target=$50 Stop=$43.32
POSITION: HQT II - Sept. $45c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/chtt.html

New upside:

Play Date: 04/11/2005
DOX (Amdocs--$29.78; +0.33; optionable): Integrated customer management software
http://biz.yahoo.com/p/d/dox.html
STATUS: Cup. DOX has rallied up to the top of its 10 week base, knocking at the breakout point the past three sessions. It has not broken out but it is holding the move, ready to break on through. Strong 3 to 0 accumulation (3 up price weeks on rising volume to 0 down price weeks on rising volume) shows continued buying in the pattern as it forms up using the 50 day EMA (28.49) as rough support for the base. A breakout takes it to a 2.5 year high, and it looks ready to follow money flow higher.
Volume: 951K Avg Volume: 1.236M
BUY POINT: $30.29 Volume=1.9M Target=$35 Stop=$29
POSITION: DOX GF - July $30c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/dox.html

Play Date: 04/11/2005
UNH (Unitedhealth Group--$97.21; -1.19; optionable): Health care plans. Forecast to announce a split 4-14-05 or 5-12-05 with a board meeting.
http://biz.yahoo.com/p/u/unh.html
STATUS: Breakout test. We just took some gain on UNH out of an abundance of caution and to lock in a very nice gain after it ran toward $100 and then fell back. Volume was a bit higher Monday so we were taking no chances as it heads into the forecast split announcement. It is getting a bit of cold feet, but that is going to give us a better entry point for the split play. We are looking for a test of the 10 day EMA (96.66) and perhaps a bit lower, maybe even to the 18 day EMA (95.23) though we think that would be a stretch. Want to let it make the test and then rebound through the buy point; if it goes lower to the 18 day EMA we will look at an aggressive buy point just over that level when it rebounds.
Volume: 2.972M Avg Volume: 2.548M
BUY POINT: Test 10 day EMA, then $96.75 on the way back up. Volume=3.8M Target=$105 Stop=$95.12
POSITION: UHB FS - June $95c (68 delta)
http://www.investmenthouse.com/ci/unh.html

Downside:

Play Date: 04/11/2005
FSH (Fisher Scientific--$57.86; +0.14; optionable): Wholesale electronics
http://biz.yahoo.com/p/f/fsh.html
STATUS: Put. Broke higher in December, tested and then moved to a high in early February. It has rolled over from there and after a weak bounce off the 200 day SMA (58.56) to end March it went crashing through on strong volume. The past week it rebounded to test that breakdown, and it has stalled out just below the 200 day. Looking for some more volume to come back into the stock as it fails this test and resumes the downside move. A move down to the target lands us a 40%ish gain.
Volume: 589.2K Avg Volume: 1.194M
BUY POINT: $57.62 Volume=1M Target=$55.58 Stop=$58.35
POSITION: FSH QL - May $60p (-57 delta)
http://www.investmenthouse.com/ci/fsh.html

Play Date: 04/11/2005
JPM (JP Morgan--$34.62; +0.12; optionable): Money center bank
http://biz.yahoo.com/p/j/jpm.html
After Hours: $34.64
STATUS: Put. JPM is in a steady downtrend, moving down the 18 day EMA (35) after an early March test of the 50 day EMA (36.02) failed. Last week the stock rebounded to the 18 day after a crash lower to start the month. Money flow is still diving ahead of the stock and volume moved higher Monday as the stock churned below the 18 day EMA. Steady downtrend and still under pressure. Looking for volume to continue higher as JPM moves lower through the buy point.
Volume: 7.174M Avg Volume: 10.998M
BUY POINT: $34.48 Volume=11M Target=$33.42 Stop=$34.74
POSITION: JPM QG - May $35p (-50 delta)
http://www.investmenthouse.com/ci/jpm.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.

us stock market
stock split