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us stock market, stock recommendation
Begin part 2 of 2
THE PLAYS
Good movers: GNSS; INGR; MSTR; PWR; QSII; RATE; SONO; THQI; XTO; JWN
NEW PLAYS:
Upside:
Play Date: 08/11/2005
AMGN (Amgen--$80.84; +1.36; optionable): Biotechnology
http://biz.yahoo.com/p/a/amgn.html
After Hours: $80.72
STATUS: Test 18 day EMA. AMGN exploded higher in mid-July with a superb earnings report, gapping higher after already clearing a 7 month flat base. It has moved laterally the past 4 weeks and then received some downgrades last week and earlier this week. That sent AMGN back to the 18 day EMA (79.02) where it has held its ground and is starting to rebound, giving us an opportunity. A strong stock will get these valuation downgrades, test near support, then rebound. Looking for more volume as it continues higher.
Volume: 8.307M Avg Volume: 9.787M
BUY POINT: $81.65 Volume=11M Target=$92.88 Stop=$78.78
POSITION: VAM AQ - Jan. $85c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/amgn.html
Play Date: 08/11/2005
MPET (Magellan Petroleum--$3.01; +0.12; no options): Independent oil and gas
http://biz.yahoo.com/p/m/mpet.html
After Hours: $3.03
STATUS: Pennant. MPET came back to life in June, breaking out of a 17 month base. After a big surge higher in mid-June and then it started the current pattern, a 9 week pennant making higher and higher lows up the 18 day EMA (2.98). Solid 3:1 accumulation in the lateral base shows the buying continuing during the base. Money flow continues at strong levels, another indication of buying. Low volume on this last test lower shows very little selling. Looking for volume to return as it makes the break higher through the buy point.
Volume: 611.225K Avg Volume: 1.716M
BUY POINT: $3.15 Volume=1.8M Target=$3.95 Stop=$2.95
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/mpet.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMX 08/04 Test BO 22.82 +0.1 22.21 25.55 2M 5M 21.54
Buy Not Issued.
AMX 06/27 Cup hdl 22.82 +0.1 20.37 23.28 2M 2.5M 21.93
Current.
ASPM 08/01 Test BO 32.45 +0.18 32.78 38.65 49K 276K 31.48
Buy Not Hit.
BJS 07/06 Asc Tri 63.61 -0.03 55.08 61.72 2.2M 2.8M 61.55
Current.
BTUI 08/09 Test BO 6.88 +0.11 7.18 8.79 83K 165K 6.82
Buy Not Issued.
CDIS 06/27 Test BO 61 +0.6 53.69 60 523K 800K 58.89
Current.
CRM 08/08 Test BO 23.95 -0.57 24.19 27.89 1M 1.5M 23.57
Current.
CRM 07/13 Cup hdl 23.95 -0.57 22.25 26.22 1M 1.7M 23.57
Current.
CUTR 08/03 Test BO 21.9 -0.03 22.39 26.58 154K 325K 21.22
Current.
CVD 07/30 Test BO 50.18 +1.18 49.05 55.95 285K 400K 47.87
Buy Not Issued.
DRIV 08/02 Test BO 37.72 +0.61 37.77 44.25 900K 1.6M 35.13
Buy Not Issued.
DVN 06/13 DB hdl 60.33 +0.36 49.78 56.96 3.3M 4.5M 57.76
Current.
ENER 07/21 Rv H&S 27.28 +0.66 26.08 29.78 400K 700K 25.55
Current.
FTO 08/04 Test 50 30.74 +0.03 30.88 35.35 676K 1.3M 29.02
Current.
GLW 05/21 Test BO 19.53 -0.06 15.23 18.22 9.6M 14M 18.92
Current.
GNSS 07/27 Test BO 25 +0.78 24.93 29.22 518K 1.4M 23.55
Current.
GNSS 07/11 FlyPlat 25 +0.78 20.81 24.82 518K 1M 23.55
Current.
GPRO 08/10 Cup hdl 46.96 +0.46 47.12 54 323K 1.1M 45.95
Buy Not Issued.
IEX 08/08 Test BO 43.61 +0.36 43.15 48.99 168K 315K 42.72
Entered today.
INGR 05/10 Asc Tri 40 +0.5 30.64 34.45 608K 276K 38.87
Current.
MDR 07/11 Asc Tri 26.25 -0.45 22.71 26.72 614K 1.3M 25.68
Current.
MINI 08/10 Test BO 41.63 +1.06 40.95 46.95 75K 200K 39.69
Buy Not Issued.
MMSI 08/03 Test 18 17.52 +0.13 17.74 20.44 104K 235K 16.79
Buy Not Hit.
MRVL 07/30 PreAnn 44.08 +0.77 44.07 49.59 2.6M 3.3M 42.94
Current.
MRVL 07/06 Test BO 44.08 +0.77 41.45 46.72 2.6M 3.8M 42.94
Current.
MSTR 08/06 Test BO 77.13 +2.02 76.14 85.68 504K 750K 75.75
Current.
MUR 08/10 Test BO 55.98 +0.6 55.25 60.55 1.2M 1M 54.77
Current.
NVDA 08/06 Cup hdl 28.25 +0.39 28.95 34.72 5.6M 7M 27.24
Buy Not Issued. Tested the 18 day MVA intraday and rallied back on much stronger, but only slightly above average volume. Up after hours $2 due to great earnings. Will let run tomorrow and then when the stock tests back and holds will enter the play.
NXTP 08/08 DB hdl 26.28 -0.07 26.69 30.25 988K 3.4M 25.98
Buy Not Hit.
PLAB 07/23 Test BO 26.56 +0.86 26.98 31.29 466K 1.2M 25.54
Current.
PPDI 07/27 Test BO 56.35 +0.33 57.38 64.55 211K 547K 56.35
Buy Not Issued.
PWR 07/22 Rv H&S 10.85 +0.25 10.08 12.12 786K 1M 10.38
Current.
QSII 07/25 Cup hdl 68.81 +2.67 55.78 64.42 433K 604K 66.12
Current.
RATE 08/08 Test 18 25.64 +0.51 24.61 29.55 134K 235K 24.22
Current.
RATE 07/06 Cup hdl 25.64 +0.51 20.62 23.74 134K 219K 24.22
Current.
RIG 07/25 Test BO 59.32 +0.57 59.75 67.44 4.2M 4.6M 57.47
Buy Not Issued.
SONO 08/01 Rv H&S 36.29 +0.84 35.15 40.45 74K 175K 34.98
SOSA 06/09 Cup hdl 12.72 +0.25 8.51 10.22 1.9M 831K 11.93
Current.
SPN 07/23 Cup hdl 21.19 +0.14 20.39 23.59 441K 716K 20.55
Current.
TALX 08/03 Test BO 40.05 -0.17 39.38 44.95 372K 400K 37.54
Buy Not Issued.
THQI 08/02 Test BO 35.65 +1.1 35.85 41.88 823K 970K 34.69
Current.
THQI 07/01 Test BO 35.65 +1.1 31.88 37.78 823K 970K 34.69
Current.
TXN 06/29 Asc Bse 32.71 +0.18 28.87 33.44 11M 18M 31.61
Current.
UBET 07/23 Cup hdl 6.02 +0.11 6.11 7.39 309K 564K 5.69
Current.
USPH 08/06 Test 50 18.25 -0.12 18.92 22.15 130K 150K 18.11
Buy Not Hit.
XTO 07/01 Cup hdl 38.14 +0.51 36.47 42.32 3M 4.7M 37.05
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
JWN 08/10 Put 31.92 -0.42 32.05 30.01 2.7M 2.8M 32.67
Entered today.
SYMC 08/10 Put 21.95 -0.03 21.82 20.31 13M 16M 22.42
Buy Not Issued.
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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