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Begin part 3 of 3

THE PLAYS

Good movers: ALXN; ODP; TER; ICF

Weekend play results
PSSI: Still looking solid
TXN: Not a bad price move; just needs some volume.
YHOO: Ready to turn lower at the 10 day EMA.
AMT: Still trying to make the move.
CDN: Very nice and ready for the move.
MOBE: Holding at the 18 day EMA as it continues its breakout test.

New Plays:

Upside:

Play Date: 08/29/2005
GLBL (Global Industries--$9.66; -0.46; optionable): Marin construction and support services in Gulf of Mexico, etc.
http://biz.yahoo.com/p/g/glbl.html
STATUS: Breakout test. GLBL was on our watchlist and when Katrina turned and moved through the gut of the Gulf GLBL strengthened its hand. GLBL broke out from a 16 week cup with handle in early August, rallied to 12, and then tested the move for a couple of weeks as the market sold back. Gapped higher Monday on strong trade. Closed off the high (12.50), but we are ready to move into positions as it continues higher; it was already strong before Monday, and this just gives GLBL a rosier future.
Volume: 976.627K Avg Volume: 900.806K
BUY POINT: $12.18 Volume=1M Target=$14.45 Stop=$11.33
POSITION: GQO LB - Dec. $10c (81 delta) &/or Stock
http://www.investmenthouse.com/cd/glbl.html

Play Date: 08/29/2005
SLXP (Salix Pharmaceuticals--$20.79; +0.12; optionable): Digestive tract drugs
http://biz.yahoo.com/p/s/slxp.html
STATUS: Cup w/handle. SLXP broke sharply higher to start the month, moving on strong volume. You could call that move the breakout from its 12 month base, but it has also spent the past three weeks moving laterally in a test of that move, holding over the 18 day EMA (20.34). Solid 14 to 10 accumulation (14 up price weeks on rising volume to 10 down weeks on rising volume) shows net accumulation in the base, setting up the breakout and run. Volume started to creep higher Monday (though still below average) as SLXP tested the waters for the next move higher.
Volume: 351.4K Avg Volume: 445K
BUY POINT: $21.48 Volume=668K Target=$24.38 Stop=$20.21
POSITION: PQN AD - Jan. $20c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/slxp.html

Downside:

Play Date: 08/29/2005
^DJX (1/100 DJ-30--$104.63; +0.66; optionable)
http://biz.yahoo.com/p/^/^djx.html
STATUS: Put. After a rounded top from mid-July to last week, DJX broke lower, falling through the 200 day SMA (105.39). It dropped to some support at 104 (undercut that level Monday) and then rebounded Monday on continued below average volume. It has run up toward the 10 day EMA (104.96), tapped at that level, and faded some. May try to run a bit higher once more, but anticipating it will continue the move lower to test the 102 level. A move to the target lands us a 42%ish gain.
Volume: 1.218M Avg Volume: 1.4M
BUY POINT: From Monday close: $104.45; if it bounces up to 105, 104.87 on the way back down. Volume=1.4M Target=$102.42 Stop=$105
POSITION: DJV VB - Oct. $105p (-49 delta)
http://www.investmenthouse.com/cd/^djx.html

Continuing ready to move:

Play Date: 08/25/2005
CONR (Conor Medsystems--$19.67; -0.01; optionable): Medical instruments
http://biz.yahoo.com/p/c/conr.html
After Hours: $19.67
STATUS: Breakout test. Nice lateral dance along the 10 day EMA (19.21), tapping that level on the Monday low and then rebounding to close flat on very low, below average volume. Excellent test of the breakout from the 22 week double bottom with handle base, the first base of this stock's career (a new issue in December 2004). Solid money flow and ready to continue the breakout move.
Volume: 62.327K Avg Volume: 215.714K
BUY POINT: $20.05 Volume=275K Target=$23.45 Stop=$18.89
POSITION: QAP BD - Feb. $20c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/conr.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: Gapped lower below the 50 day EMA and rebounded to close just below that level, but breaking back down so quickly after the prior fall and rebound on volume is a serious sign of weakness.

HW: Major implosion below the 50 day EMA.

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.

Upside:

AEIS: Peaked in 2000 and has made a series of lower lows each year. It just came off a bottom in February and then formed a 15 week reverse head and shoulders base. It broke out in mid-August, rallied to 12.50 and is now testing that move on lower volume. Held the 18 day EMA and rebounded Monday. Decent and this may be the move that breaks it higher. It won't be the move that breaks the long downtrend, however.

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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