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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Best Plays:
1) IEX: Very nice test of the breakout from this top stock.
2) NXTP: Setting up for the next run.
3) CRM: Excellent test of the breakout at the 10 day EMA.
4) AMX: Volume higher as AMX starts off the 10 day EMA.
5) ASPM: Ready to resume the breakout move.
6) NVDA: Volume was up and NVDA is flexing.
NEW PLAYS:
Upside:
Play Date: 08/08/2005
GEOI (Georesources--$15.76; +0.02; no options): Independent oil and gas
http://biz.yahoo.com/p/g/geoi.html
STATUS: Cup w/handle. GEOI has come to life this year and is on its third base, a 9 week pattern with positive 2 to 1 accumulation (2 up price weeks on rising volume to 1 down price weeks on rising volume). Money flow is moving up ahead of the price even as it makes this weeklong pullback to the 10 day EMA (15.49). Just going to be patient and let it show us the breakout move on a resumption of above average volume. Quite a stepper.
Volume: 446.838K Avg Volume: 1.208M
BUY POINT: $16.22 Volume=1.8M Target=$19.72 Stop=$15.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/geoi.html
Play Date: 08/08/2005
IEX (Idex--$42.56; +0.13; optionable): Engineered industrial products. Researching next date.
BACKGROUND: Last announced a 3:2 split on 4-22-04 at $44.80.
http://biz.yahoo.com/p/i/iex.html
STATUS: Breakout test. Gapped out of a 19 week cup with handle base in late July on a solid earnings report, rallying to 44 on the move. It ahs spent the past week coming back to test the move, tapping the 18 day EMA (42.15) Monday. Solid 6 to 4 accumulation in the base (6 up price weeks on rising volume to 4 down price weeks on rising volume) shows solid buying during the consolidation. Nice test of the breakout to the new high; the low volume showing no selling, just profit taking. Strong money flow is leading higher. After this hammer doji we are looking for IEX to rebound on a good shot of volume. That is when we move in.
Volume: 190.7K Avg Volume: 251.786K
BUY POINT: $42.94 Volume=315K Target=$48.92 Stop=$41.94
POSITION: IEX AH - Jan. $40c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/iex.html
Play Date: 08/08/2005
NXTP (Nextel Partners--$26.25; 0; optionable): Wireless telecom
http://biz.yahoo.com/p/n/nxtp.html
STATUS: Double bottom w/handle. A sweet little 7 week pattern has formed over the 50 day EMA (24.86) after a nice breakout and run from March to late June. Solid 3 to 1 accumulation in the base (3 up price weeks on rising volume to 1 down price weeks on rising volume) shows solid buying as NXTP took a breather. May take a session or two more to complete the handle, but it is setting up well.
Volume: 1.611M Avg Volume: 2.273M
BUY POINT: $26.69 Volume=3.4M Target=$30.25 Stop=$25.98
POSITION: KTU AE - Jan. $25c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/nxtp.html
New buy points on current positions:
Play Date: 08/08/2005
CRM (Salesforce.com--$23.67; -0.01; optionable): Customer relationship management services
http://biz.yahoo.com/p/c/crm.html
STATUS: Test breakout. A new issued in June 2004, CRM formed an excellent 8.5 month cup with handle base and broke out in mid-July. It is making its second test of the breakout, holding above the 10 day EMA (23.43) as it does. Excellent money flow is leading the way higher and we are ready to step in to some new positions as CRM resumes the move.
Volume: 593.9K Avg Volume: 1.25M
BUY POINT: $24.15 Volume=1.5M Target=$27.75 Stop=$23.31
POSITION: CRM KX - Nov. $22.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/crm.html
Play Date: 08/08/2005
RATE (Bankrate--$24.06; +0.16; no options): Internet based consumer banking
http://biz.yahoo.com/p/r/rate.html
STATUS: Breakout test. RATE is making the second test of the 18 day EMA (23.60) after the early July breakout from its 23 week cup with handle base. It broke to a new high on the breakout move, and it is ready for another one when it resumes the move up off the 18 day. Volume rallied Monday, still below average but looks ready to make the next break higher. Solid money flow is leading the way higher.
Volume: 182.023K Avg Volume: 182.902K
BUY POINT: $24.41 Volume=235K Target=$29.35 Stop=$23.47
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/rate.html
CONTINUING PLAYS
Upside:
Not yet entered:
Play Date: 08/04/2005
AMX (America Movil--$22.10; +0.40; optionable): Wireless telecom
http://biz.yahoo.com/p/a/amx.html
STATUS: Breakout test. Volume moved up as AMX moved up off the 10 day EMA (21.81) in a down market. Love the relative strength, moving higher as the market sells. Just about there and just want to see continued strong volume as it moves through the buy point. To recap: AMX broke out from a 14 week cup with handle base in mid-June and rallied up the 18 day EMA (21.47) before a strong surge last week on the telecom news about potentially some real deregulation. It took a breather after it split in late July, and that gave it the launch point for that big break higher. It came back from that move with a nice, easy test the past week, falling back to the 10 day EMA. This pullback has set up the next move, ready to follow the money flow higher.
Volume: 2.349M Avg Volume: 3.895M
BUY POINT: $22.21 Volume=5M Target=$25.55 Stop=$21.54
POSITION: AMX KD - Nov. $20c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/amx.html
Play Date: 08/01/2005
ASPM (Aspect Medical--$32.55; +1.1; optionable): Medical appliances
http://biz.yahoo.com/p/a/aspm.html
STATUS: Breakout test. Starting to move up off the 18 day EMA (31.68) on some better volume though it needs to get better. Nice breakout to end July from its 8 week base and a great, low volume test. It is basically ignoring the market with this Monday move, but want to see more volume as it continues the breakout move.
Volume: 111.345K Avg Volume: 178.843K
BUY POINT: $32.78 Volume=276K Target=$38.65 Stop=$31.48
POSITION: UCU KF - Nov. $30c (68 delta) &/or Stock
http://www.investmenthouse.com/ct/aspm.html
Play Date: 08/06/2005
NVDA (Nvidia--$28.35; +0.1; optionable): Semiconductors for gaming, etc.
http://biz.yahoo.com/p/n/nvda.html
After Hours: $28.60
Earnings: 8-11-05
STATUS: Cup w/handle. Volume was up Monday as NVDA moved through the buy point, but that was early in the session, and we had a feeling the market rally would not hold. Came back to close basically flat. Still very solid base and ready to make the breakout; just needs a little help from the market. To recap: NVDA has come off of the late July dips that acted as a continuation of the handle to its 22 week base. Excellent 8 to 2 accumulation in the pattern has set up the breakout to come. As the market sold off, NVDA posts gains on rising, slightly above average volume. Has held up well, going about its own business in its base. You like to see that because it shows the action in the pattern is serious and not at the whim of the market.
Volume: 6.112M Avg Volume: 5.789M
BUY POINT: $28.95 Volume=7M Target=$34.72 Stop=$27.24
POSITION: UVA LY - Dec. $27.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/nvda.html
Play Date: 08/06/2005
PPD (Pre-Paid Legal--$46.10; +0.10; optionable): Fixed cost legal services (like insurance for legal problems)
http://biz.yahoo.com/p/p/ppd.html
STATUS: Test 50 day EMA. Volume backed off Monday as PPD held flat, going nowhere. Still in the nice test and set up to make the rebound. Just have to see the volume as it moves through the 18 day EMA (46.71). To recap: First test of the 50 day EMA (44.70) after the early June breakout from a 6 month flat base that formed using the 50 day as support. Nice run from 38 to 55, and now an orderly, low volume test, coming back to key support at the 50 day. Solid 6 to 3 accumulation in the base set up the move. Money flow has remained strong on the pullback. Can run fast when it gets underway.
Volume: 60.9K Avg Volume: 90.5K
BUY POINT: $46.88 Volume=150K Target=$54.45 Stop=$44.55
POSITION: PPD AI - Jan. $45c (52 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/ppd.html
Play Date: 07/25/2005
RIG (Transocean--$59.01; +0.31; optionable): Oil and gas exploration and drilling
http://biz.yahoo.com/p/r/rig.html
STATUS: Breakout test. Low volume pullback over the 10 day EMA (58.34) continues as RIG tests the early August gap higher. After this test is over RIG will be ready. To recap: Gapped higher Tuesday on solid volume as RIG reported very strong earnings. It waffled after the move, however, as the market overall came under pressure. It tested the 10 day EMA, filling the gap higher; that helps set the continuation of the breakout. The pattern was a base on base, a 9 week double bottom with handle breakout and then a 6 week ascending triangle; this combination can provide a strong rally. Looked as if RIG was ready for the races to start the week, but faded with the market. It is set to move again, and we are ready to move in on a solid volume advance through the buy point.
Volume: 3.12M Avg Volume: 4.367M
BUY POINT: $59.75 Volume=4.6M Target=$67.44 Stop=$57.47
POSITION: RIG KK - Nov. $55c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/rig.html
Play Date: 08/03/2005
TALX (Talx Corp.--$38.74; +0.1; optionable): Automated employment and income verification, etc.
http://biz.yahoo.com/p/t/talx.html
After Hours: $38.75
STATUS: Breakout test. Gapped higher Monday and showing some strong volume. Looked super but we suspected the early bounce may not last; it didn't. TALX gave the gain back, the victim of a weak market. It has a lot of pop and just needs a bit of stabilization in the market. Still set up to make the move. To recap: Strong run for TALX this year after breaking out in April. It has made two gaps higher, one in early July and then again to start August. It gapped Monday on news of strong earnings and has come back on lower volume to test that move. It has pretty much come back to the 10 day EMA to complete the test, setting up the rebound move. Strong stock and we want to be ready if it turns back up from here. Strong money flow is leading higher and we expect TALX to continue to follow it. Moved up the buy point to let it clear the highs it hit the last two sessions.
Volume: 552.133K Avg Volume: 256.752K
BUY POINT: $39.38 Volume=400K Target=$44.95 Stop=$37.54
POSITION: TUB LG - Dec. $35c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/talx.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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