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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good moves: END; JAKK
Monday night play results
EMKR: Turned back at the 18 day EMA on rising volume. No implosion.
HSP: Holding at the top end of the lateral move on lower volume.
TAGS: Gapped higher but closed flat.
New Plays:
Upside:
Play Date: 08/16/2005
ALXN (Alexion Pharmaceuticals--$27.10; -0.28; optionable): Drugs
http://biz.yahoo.com/p/a/alxn.html
STATUS: Breakout test. ALXN broke out from a 24 week cup with handle base in early August, then came immediately back to test the move. Rebounded on strong volume and is now moving laterally the past week, holding the 10 day EMA (26.90). Strong 9 to 4 accumulation in the base (9 up price weeks on rising volume to 4 down price weeks on rising volume) shows plenty of buying, setting up the breakout move. Strong money flow as well is leading higher. Ready to breakout to a 3.5 year high.
Volume: 411.609K Avg Volume: 317.698K
BUY POINT: $27.74 Volume=477K Target=$31.95 Stop=$26.42
POSITION: XQN KE - Nov. $25c (64 delta) &/or Stock
http://www.investmenthouse.com/cd/alxn.html
Play Date: 08/16/2005
ARRS (Arris Group--$10.62; +0.29; optionable): Telecom equipment
http://biz.yahoo.com/p/a/arrs.html
After Hours: $10.75
STATUS: Test breakout. Gapped higher in late July on a strong earnings report. It rallied over 11 and has come back the past two weeks on lower volume to test the move. Volume jumped Tuesday as ARRS moved off the 18 day EMA (10.25) where it held on the pullback. Nice breakout from a nice 18 month cup with handle sporting strong 17 to 11 accumulation (17 up price weeks on rising volume to 11 down price weeks on rising volume). Great action in a weak market Tuesday. Want to see the volume continues as ARRS resumes the breakout move.
Volume: 2.952M Avg Volume: 1.631M
BUY POINT: $10.78 Volume=1.7M Target=$12.94 Stop=$10.22
POSITION: AQC KB - Nov. $10c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/arrs.html
Downside:
Play Date: 08/16/2005
JOSB (Joseph A. Banks--$39.95; -1.59; optionable): Apparel stores
http://biz.yahoo.com/p/j/josb.html
After Hours: $39.86
STATUS: Put. Nice breakout and run March through July, but it peaked on no volume (low, below average volume). It rolled over and sliced through the 50 day EMA (41.93) two weeks back on a strong volume surge. It fell to some support at 40 and rebounded to test the breakdown. Volume remained pathetically low, however, and Tuesday JOSB plowed lower on the strongest volume since it broke through the 50 day EMA. Looking to move in on a further drop. A move to the target lands us a 40%ish gain.
Volume: 435.622K Avg Volume: 298.958K
BUY POINT: $39.85 Volume=300K Target=$37.83 Stop=$40.55
POSITION: QAS UH - Sept. $40p (-46 delta)
http://www.investmenthouse.com/cd/josb.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, CELG, BLUD, BR, COH, HW, PSYS, RTSX, STN
COH: Sold to the 50 day EMA on rising volume. Second test of this level in the last two weeks. Needs to hold and continue to build the consolidation.
HW: Broke through the 18 day EMA on stronger volume but still below average. Needs to hold 40.
PSYS: Big volume on its financial statement today but could not hold the price move. Trying to set up something of a handle here to a 6 week pattern. Could turn into something interesting.
SUBSCRIBER WATCHLIST
We continually receive ideas for potential plays from subscribers. Many times they are already on our watchlists, other times not. We always take a look and sometimes find a gem or two, or more. We don't necessarily endorse these, but want to provide a forum for subscribers with ideas that may appeal to other subscribers. We may just put on the ticker or we might describe our thoughts as to why or why not we think it is a buy or sell. This is a way we can all learn a bit more and maybe find a few more candidates to make us some good money.
Downside:
HCP: A healthcare facilities REIT that tried to breakout from a 9 month reverse head and shoulders base in early August but rolled over on solid off on tremendous volume. Undercut the 200 day SMA and then rebounded the past week to test that breach, tapping the 200 day Tuesday and showing a tight doji on the candlestick pattern; that can indicate the rebound is over.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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