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us stock market, trade stock
Begin part 2 of 2
THE PLAYS
Good movers: ENER; KERX
NEW PLAYS:
Upside:
Play Date: 08/25/2005
GNSS (Genesis Microchip--$25.64; +1.75; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/g/gnss.html
After Hours: $25.75
STATUS: Test 18 day EMA. Well, it was not a very long hiatus. GNSS broke below the 18 day EMA (24.71) Wednesday, but Thursday volume surged and GNSS rebounded through that level. Solid money flow is leading higher as GNSS continues its move from the late July breakout. Ready to move in once more after this nice recovery.
Volume: 2.267M Avg Volume: 929.843K
BUY POINT: $25.89 Volume=1M Target=$30.95 Stop=$24.65
POSITION: QFE LE - Dec. $25c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/gnss.html
Downside:
Play Date: 08/25/2005
EPD (Enterprise Products--$25.01; -0.25; optionable): Independent oil and gas
http://biz.yahoo.com/p/e/epd.html
STATUS: Put. Not looking as strong as other energy stocks. EPD broke down from a 6.5 month flat base to start the month, cascading through the 200 day SMA (26.03) in the first week. It bottomed at 24 and rebounded the past week, but could only make it back to the 18 day EMA (25.40). It showed a doji there Wednesday and started back down Thursday on even stronger above average volume. Money flow is leading lower. Looking to move in on a further drop to enter the play. A move to the target lands us a 65%ish gain.
Volume: 622.6K Avg Volume: 380.457K
BUY POINT: $24.94 Volume=500K Target=$23.95 Stop=$25.18
POSITION: EPD EV - Oct. $25p (-52 delta)
http://www.investmenthouse.com/ct/epd.html
Play Date: 08/25/2005
WFR (Memc Electronic--$16.5; +0.07; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/w/wfr.html
STATUS: Put. Not all of the stocks in this group are fairing as well as the leaders (e.g., GNSS). WFR double topped in July and August, then gapped lower two weeks back. It tried to hold the 50 day EMA (16.67) but failed this week. It made a rebound to test that level, but showed a tombstone doji Thursday, tapping the 50 day EMA on the high and fading back. Looking for volume to rise as WFR continues lower. Want to see the trade bump up. A move to the target gains us 50%ish.
Volume: 1.448M Avg Volume: 2.349M
BUY POINT: $16.34 Volume=2.4M Target=$15.06 Stop=$16.77
POSITION: WFR VW - Oct. $17.50p (-70 delta)
http://www.investmenthouse.com/ct/wfr.html
Continuing Play:
Play Date: 08/15/2005
FLSH (M-Systems Flash Disk--$26.35; +0.77; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/f/flsh.html
After Hours: $26.29
STATUS: Double bottom w/handle. Volume jumped back above average Thursday in a weak market as FLSH posted a solid gain, moving right up to the breakout point on the high (26.60). Very nice recovery in the 4 week handle to the 24 week base. Money flow is leading higher and relative strength has already broken out. Looking to move in on a continued run higher with solid volume.
Volume: 759.294K Avg Volume: 633.915K
BUY POINT: $26.68 Volume=850K Target=$30.69 Stop=$25.41
POSITION: VUM AE - Jan. $25c (68 delta) &/or Stock
http://www.investmenthouse.com/ct/flsh.html
CONTINUING PLAYS
Upside:
Not yet entered:
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
^SOX 08/22 Test 50 467.05 +3.08 471.79 494 0 0 463
Current.
AEZ 08/22 DB hdl 5.94 +0.02 5.91 7.11 86K 314K 5.47
Current. Tapped 5.80 at the intraday low and rallied back on low volume. Beginning to make a lateral move holding the gain.
AMGN 08/11 Test BO 79.58 +0.84 81.65 92.88 4.5M 11M 78.78
Buy Not Hit. Bounced holding the 10 day MVA on low volume. Still in the pattern.
AMX 08/04 Test BO 22.42 +0.55 22.21 25.55 2.2M 5M 21.54
Buy Not Issued. Volume not there to enter the play.
ANIK 08/18 Test 50 14.06 +0.25 14.55 16.95 17K 125K 13.53
Buy Not Hit.
BRCM 08/15 FlyPlat 42.19 +0.11 43.54 49.95 4M 11M 42.25
Buy Not Hit.
CCK 08/19 Cup hdl 16.57 +0.07 17.17 20.54 1.1M 1.6M 16.71
Exited. Cut through the 18 day EMA intraday and shook us out.
If it rebounds on volume we will look at it again as
has filled the gap. Got too trigger happy on this one.
CMX 08/13 Test BO 45.98 -0.24 46.11 52.08 872K 2.6M 45.38
Buy Not Issued.
CRZO 08/24 Test 18 22.1 +0.22 22.08 25.75 305K 400K 20.71
Buy Not Issued.
CUTR 08/03 Test BO 23.53 +0.71 22.39 26.58 257K 325K 22.27
Current. Tapped 22.34 at the intraday low and rallied back for a nice gain on rising, but below average volume.
CVD 07/30 Test BO 52.02 +0.11 51.62 58.31 152K 400K 50.18
Current. Gapped up at the open, but gave much of it back on low volume. Beginning to level off holding the gain.
DRIV 08/02 Test BO 36.85 -1.65 38.78 44.42 1.9M 1.6M 37.72
Exited.
ENER 08/23 Rv H&S 29.93 +1.14 28.23 33.94 1.2M 700K 28.95
Current. Another great move on excellent volume surge.
FLSH 08/15 DB hdl 26.35 +0.77 26.68 30.69 759K 850K 25.41
Buy Not Hit. Bounced off the 10 day MVA for a nice gain on much stronger, but average volume. Looking good.
HAWK 08/15 FlyPlat 11.15 -0.05 11.57 13.31 254K 642K 10.98
Buy Not Hit.
IEX 08/08 Test BO 43 0 43.15 48.99 236K 315K 42.72
Current. Tested the 18 day MVA intraday and rallied back on average volume. May continue to test back to 18 day MVA.
INGR 05/10 Asc Tri 40.22 +0.22 30.64 34.45 346K 276K 39.11
Current. Continue with uptrend on stronger above average volume. Meeting some resistance here.
KERX 08/20 Test BO 17.71 +0.7 17.49 20.44 470K 679K 16.47
Entered today. Another great move up the 10 day MVA on rising, but average volume.
MCHP 08/17 Test 50 31.36 +0.2 31.32 35.95 1.1M 1.7M 30.53
Current. Continue to move up after testing the 50 day MVA.
MFE 08/17 Test 50 30.47 -0.97 30.95 35.95 1.9M 2M 30.31
Current.
MINI 08/23 Test 50 40.55 +0.05 40.95 46.95 57K 150K 39.69
Buy Not Hit. Still in the pattern.
MMSI 08/03 Test 18 17.46 -0.09 17.74 20.44 127K 235K 16.79
Buy Not Issued. Pullback on rising but below average volume holding just below the 18 day MVA. May continue to test back to 17.32.
MSTR 08/06 Test BO 73.99 -1.7 76.14 85.68 502K 750K 76.25
Exited.
NVDA 08/06 Cup hdl 29.37 +0.2 29.94 35.72 2.5M 7M 29.65
Current. Tapped 29.05 at the intraday low and rallied back on lower below average volume. Moving up after testing the breakout.
ORBK 08/22 Test 50 24.7 -0.3 25.57 29.89 63K 200K 24.52
Buy Not Issued. Pullback holding just below the 18 day MVA on lower below average volume. Still in the pattern.
PPDI 08/24 Test BO 56.36 -0.78 57.38 64.55 228K 547K 55.55
Entered today. Moved in early as PPDI continued the Wednesday move, but it could not hold it, closing on the 10 day EMA on very low volume. Will look at more positions as this market leader rebounds.
PWR 07/22 Rv H&S 10.78 +0.04 10.08 12.12 425K 1M 10.55
Current. Tested the 18 day MVA intraday and rallied back showing a doji on the 10 day MVA on low volume. Meeting resistance at 11
RATE 08/08 Test 18 25.08 -0.03 24.61 29.55 54K 235K 24.64
Current.
RATE 07/06 Cup hdl 25.08 -0.03 20.62 23.74 54K 219K 24.64
Current.
SONO 08/01 Rv H&S 34.81 -0.67 35.15 40.45 66K 175K 34.98
SYKE 08/20 Test 18 10.22 -0.03 10.68 12.65 216K 409K 10.25
Buy Not Hit.
SYNM 08/20 Cup hdl 12.9 -0.39 12.88 15.38 288K 631K 12.35
Current. Gapped up at the open, but gave it back on low volume. Testing the breakout. May continue to test back to 12.39
UBET 07/23 Cup hdl 5.88 -0.11 6.11 7.39 145K 564K 5.77
Current.
VAS 08/17 Test BO 26.2 +0.28 25.35 28.85 128K 247K 25.65
Current. Meeting some resistance here on low volume.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AVT 08/20 Put 24.52 +0.27 24.04 22.32 410K 950K 24.65
Buy Not Hit.
CC 08/20 Put 16.73 -0.02 17.08 16.15 932K 1.6M 16.95
Meeting some support at 16.65.
HCP 08/17 Put 26.7 +0.27 25.71 24.59 506K 510K 26.25
Exited.
IYR 08/13 Put 64.43 +0.36 63.68 61.89 1M 2.5M 64.38
Current.
JCP 08/24 Put 50.79 +1.07 49.65 47.59 2.6M 3.2M 50.97
Buy Not Hit. Bounced tapping 51.19 at the intraday high, but could not hold the entire gain on stronger above average volume. May continue to test up to 50.60
MWD 08/24 Put 51.62 +0.09 51.42 49.88 3.3M 6M 51.96
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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