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Begin part 3 of 3
THE PLAYS
Good movers: CYTC; DESC; EFJI; FIX; NGAS; PXP; TRCA
Weekend play results:
ARRS: Continued higher on lower but still above average volume.
BRCM: Gapped higher but finished the session flat. Still ready to go.
NETL: Tested the 50 day SMA on the low and rebounded. Good shakeout as it readies for the continued move off the 50 day EMA.
SPIR: Just needs a bit more volume as it continues the break higher.
Upside:
Play Date: 10/03/2005
ALXN (Alexion Pharmaceuticals--$28.03; +0.38; optionable): Drugs
http://biz.yahoo.com/p/a/alxn.html
After Hours: $28.05
STATUS: 50 day EMA test. ALXN broke out from a 24 week cup with handle base early August, rallying up the 18 day EMA (27.94) through early September, hitting 30 on the run. It spent most of September testing the move, coming back to the 50 day EMA (27.36) to end the month. Volume jumped Friday and was strong and above average again Monday as ALXN tested lower and rebounded for a modest gain. Strong 10 to 6 accumulation (10 up price weeks on rising volume to 6 down price weeks on rising volume) set the stage for the breakout. Now that it has made this test of important support and held we are looking to get on board as it continues the break higher. Money flow is racing higher ahead of price, a very good corroboration of the accumulation. Ready to move in as it continues higher.
Volume: 503.789K Avg Volume: 307.422K
BUY POINT: $28.35 Volume=425K Target=$33.35 Stop=$27.89
POSITION: XQN AE - Jan. $25c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/alxn.html
Play Date: 10/03/2005
ARW (Arrow Electronics--$32.00; +0.64; optionable): Electronic components and semiconductors
http://biz.yahoo.com/p/a/arw.html
STATUS: Flying plateau. ARW is moving toward a 5 year high, coming off a 50 day EMA (30.11) test last week as it consolidates a strong break higher in early September. ARW broke out of a large 15 month base in July. This is the second test of the 50 day EMA since that move. A market leader in pattern, sales and earnings. Needs to show us some more volume as it clears the September highs as it leaves this 3 week plateau.
Volume: 354K Avg Volume: 533.614K
BUY POINT: $32.21 Volume=700K Target=$37.95 Stop=$31.04
POSITION: ARW AF - Jan. $30c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/arw.html
Play Date: 10/03/2005
MINI (Mobile Mini--$44.47; +1.12; optionable): Mobile metal buildings.
http://biz.yahoo.com/p/m/mini.html
After Hours: $44.35
STATUS: Breakout test. MINI manufactures the buildings used as construction offices and the like; with the storms and the rebuild needed, this is somewhat of a rebuild play. Solid volume Monday as MINI bounced up off the 50 day EMA (41.81) as it readies to continue the breakout move. Broke out in late July from a 16 week cup with handle base. This is the second test of the breakout, and when it moves it tends to take off. Closed well off the high Monday (46.17) as the market pulled back as well, but strong money flow is leading the way higher as this leader is ready to continue the breakout and move to another new all-time high. Strong 7 to 4 accumulation in the base. Nice. Top rated stock in terms of earnings, sales, and pattern.
Volume: 188.347K Avg Volume: 115.748K
BUY POINT: $44.77 Volume=174K Target=$52.95 Stop=$42.98
POSITION: UAC BI - Feb. $45c (53 delta) &/or Stock
http://www.investmenthouse.com/cd/mini.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, BLUDE, BR, COH, HW, PSYS, RTSX, STN
AAPL: Wasn't just window dressing as AAPL continued higher again Monday, gapping up on an upgrade.
CELG: Gapped lower as the FDA required another 3 months on one of its drugs, but CELG rallied right back on strong volume.
BR: Just rallying higher up the 10 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.
ERICY: A stock we have been watching as well. ERICY is showing great volume the past two sessions as it starts the breakout from a 7 week triangle. This formed on the heels of a 8 month cup with handle. Nice base on base pattern. Like the stock and pattern; a leader over the past several months.
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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