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us stock market, stock ticker
Begin part 3 of 3
THE PLAYS
Wednesday night play results:
ADSK: Fell through the 18 day EMA as it continues the test.
CYCL: Dropped down for a tap a the 50 day EMA. Testing a bit lower in the base but still in the pattern.
WOOF: Another stock tapping at the 50 day EMA on the low and rebounding to hold the 18 day EMA. Good shakeout.
Upside:
Play Date: 10/06/2005
GRMN (Garmin Ltd.--$66.31; -0.18; optionable): Global positioning devices
http://biz.yahoo.com/p/g/grmn.html
After Hours: $66.25
STATUS: Breakout test. GRMN broke out from an 8 month cup with handle base in early September, rallying on strong volume. It is making its second test of the 18 day EMA (64.87), prompted by the market selling this week. That is a plus; it got away from us on the run late in September as it stormed higher on strong volume. Strong 22 to 15 accumulation in the base shows net buying, setting up this breakout and run. Nice doji Thursday right on the 10 day EMA (66.21) as GRMN looks to have completed this test. Looking for volume to jump back up as it continues higher off the 18 day EMA.
Volume: 957.522K Avg Volume: 818.995K
BUY POINT: $66.88 Volume=1.2M Target=$76.95 Stop=$64.75
POSITION: GQR AM - Jan. $65c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/grmn.html
Play Date: 10/06/2005
ILMN (Illumina--$13.33; +0.41; optionable): Biotechnology
http://biz.yahoo.com/p/i/ilmn.html
STATUS: Ascending base. Quietly building its 11 week pattern as it moves up the 50 day EMA (12.60), making higher and higher lows as it does. Low volume during the base just as it should be. Then volume started to creep higher the past week and showed a solid, above average volume spike Thursday as ILMN flexed its muscles a bit. Positive accumulation in the short base and relative strength rallying toward a breakout. Just want to see that volume remain strong as ILMN continues its move higher and through the buy point.
Volume: 490.59K Avg Volume: 385.071K
BUY POINT: $13.85 Volume=578K Target=$16.75 Stop=$12.88
POSITION: IQA CV - Mar. $12.50c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/ilmn.html
Play Date: 10/06/2005
NVDA (Nvidia--$33.49; -0.12; optionable): Specialized semiconductors
http://biz.yahoo.com/p/n/nvda.html
After Hours: $33.46
STATUS: Test 18 day EMA. NVDA broke out of a 6 month ascending triangle in August, and has rallied up the 18 day EMA (33.21) since. After a good surge to end September, it sold back this week with the market but on relatively low trade. Thursday it reached way down below the 18 day EMA on the low (32.48) and then rebounded sharply to close flat. Looks as if that is all the shakeout it needs. Strong. This is the second test of the 18 day since the breakout, and that leaves plenty of upside remaining. Solid 9 to 5 accumulation in the base shows plenty of buying to set up the breakout and run higher. Solid market leader.
Volume: 5.713M Avg Volume: 5.139M
BUY POINT: $34.05 Volume=6.5M Target=$40.45 Stop=$32.95
POSITION: UVA AT - Jan. $32.50c (60 delta) &/or Stock
http://www.investmenthouse.com/cd/nvda.html
Still ready:
PWAV: Tapped the 50 day EMA, filling the gap and rebounding for a modest loss. That will likely set the break higher.
RBAK: Nice doji over the 50 day EMA. Need to see volume rally as RBAK moves back through 10.
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: Sold on strong volume, undercutting the 18 day EMA. Rebounded some but still closed below the 18 day. Just about time for it to test the 50 day EMA. That should proved an new entry point.
CELG: Diving through the 50 day EMA on rising, above average volume.
BR: Gapped below the 50 day EMA, managing a rebound but not a recovery over that level.
RTSX: Holding up very well, holding at the 18 day EMA and showing a doji on rising, above average volume.
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.
TIE: Industrial metals. Tumbled to the 50 day EMA (34.14) on the intraday low and then rebounded for a modest gain on strong volume. May be all it needs for this round of selling.
FAL: Another industrial metals stock. Has sold back the pat two weeks after a strong move higher, holding the 18 day EMA (25.87) and showing a doji Thursday.
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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