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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Good movers: IDIX; XLY
Tuesday night play results:
CLB: Diving lower with the energy stocks.
IIJI: Rallied well intraday but gave the move back. Still ready despite the market.
RBAK: Tapped the 50 day EMA on the low. Still not bad.
Upside:
Play Date: 10/05/2005
ADSK (Autodesk--$44.81; -1.66; optionable): Technical drafting software
http://biz.yahoo.com/p/a/adsk.html
After Hours: $44.86
STATUS: Test breakout. ADSK is a market leader and it broke out from an 8 month ascending triangle in mid-August. It fell into this base after its December split that capped off a hell of a run in 2004. It needed a base to regroup and that is what this last base allowed it to do. It is making its second test of that breakout, ushered along Wednesday with the market selling. A bit steep of a drop, but still holding above the 18 day EMA (43.86). We are looking for ADSK to complete the test this week and then start back up once the selling pressure is off.
Volume: 4.497M Avg Volume: 2.727M
BUY POINT: $45.32 Volume=4.1M Target=$53.95 Stop=$43.69
POSITION: ADQ AI - Jan. $5c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/adsk.html
Play Date: 10/05/2005
CYCL (Centennial Communications--$14.4; -0.08; no options): Wireless telecom and broadband in US Virgin Islands, Dominican Republic (now why didn't I think of that?)
http://biz.yahoo.com/p/c/cycl.html
STATUS: Cup w/handle. Nice little 13 week base has formed as CYCL approaches a four year high when it pulls off this breakout. Strong 4 to 2 accumulation in the base (4 up price weeks on rising volume to 2 down price weeks on rising volume) shows plenty of buying to set up the breakout move. Solid money flow compliments the accumulation. Nice doji on low volume looks like a good shakeout to set up the breakout.
Volume: 129.398K Avg Volume: 184.197K
BUY POINT: $15.21 Volume=276K Target=$18.25 Stop=$14.32
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/cycl.html
Play Date: 10/05/2005
WOOF (VCA Antech--$25; -0.28; optionable): Veterinary services
http://biz.yahoo.com/p/w/woof.html
STATUS: Cup w/handle. WOOF is using the market selling to form a handle to its 15 week base, setting up for the breakout that will take it to a new all-time high. The base formed along the 50 day EMA (24.25), using this key support as it builds the pattern. Strong money flow. Relative strength ready for a new breakout. A market leader and it is setting up a nice base for a new entry point.
Volume: 651.704K Avg Volume: 407.345K
BUY POINT: $25.32 Volume=611K Target=$29.45 Stop=$24.57
POSITION: QWF AE - Jan. $25c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/woof.html
Still ready: IIJI; SPIR
Ready for a new buy: NGAS. A test of the 10 day EMA (13.21) sets up the next buy point.
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
BR: Definitely giving us the chance to buy back the calls we sold. Looks destined to test the 50 day EMA (72.13). We will let it make the test and then buy them back.
RTSX: Nice below average volume test of the 18 day EMA. Just taking a pause.
STN: At the 200 day SMA. Needs to hold close this time around.
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.
KONG: Testing its late September breakout from a 10 month reverse head and shoulders base. Reached way down to tap the 18 day EMA (12.66) on the low and rebounded to close above the 10 day EMA (13.25). Setting up to continue the breakout run after this market selling test. Chinese wireless interactive gaming.
HOLX: A pre-split stock that splits 12-1-05. Strong run from mid-September made it to 60 and now it is using the market selling to test the move, tapping at the 18 day EMA (54.65) on the session low, rebounding to hold close to the 10 day EMA. Will let it finish the test and then grab it on the rebound. Market leader.
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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