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Begin part 2 of 2
Full report issues Saturday.
THE PLAYS
Good movers: AQNT; BCSI; DO; GENZ; LRCX; NWRE; WRES
NEW PLAYS:
Upside plays:
Play Date: 11/03/2005
AMGN (Amgen--$77.51; +3.61; optionable): Biotechnology
http://biz.yahoo.com/p/a/amgn.html
After Hours: $77.74
STATUS: Cup. AMGN is working on a 7 week cup that has formed as a test of the big July gap higher. It filled most of the gap on the pullback. Thursday it jumped up through the 50 day EMA (77.18) on a return to above average volume. Looking for more volume as AMGN continues the move higher and follows the strong money flow.
Volume: 12.365M Avg Volume: 8.45M
BUY POINT: $78.25 Volume=13M Target=$89.95 Stop=$75.45
POSITION: YAA AO - Jan. $75c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/amgn.html
CONTINUING PLAYS
Play Date: 10/29/2005
IDXX (Idexx Labs--$68.1; -1.04; optionable): Diagnostic substances
http://biz.yahoo.com/p/i/idxx.html
STATUS: Breakout test. Still making the test, tapping at the 18 day EMA (66.79) on the low and rebounding to hold the 10 day EMA (67.63) on the close. That higher volume on the rebound and the close above the September and early August highs looks like the shakeout that sets the continued breakout move. To recap: IDXX is coming back to test the late October break higher that took IDXX out of its 17 month cup with handle base. Strong volume on the breakout move and nice light trade as it tests. Will likely come back more on Thursday, but we expect it to hold near 68.50ish. Will let it test back and then move in as it springs back up and follows its strong money flow. Relative strength broke out as well, a good corroboration of the price breakout.
Volume: 311.186K Avg Volume: 151.591K
BUY POINT: $68.45 Volume=215K Target=$78.95 Stop=$66.68
POSITION: UID DM - Apr. $65c (74 delta) &/or Stock
http://www.investmenthouse.com/ct/idxx.html
Play Date: 10/29/2005
MACR (Macromedia--$44.6; -0.25; optionable): Multimedia and graphics software
http://biz.yahoo.com/p/m/macr.html
After Hours: $44.71
STATUS: Cup w/handle. Working laterally still over the 10 day EMA (43.84), trying to get some footing to make the real breakout. Volume is holding near average, but it needs to show us a good shot as it makes its next move. To recap: MACR broke higher last Wednesday on strong trade but immediately fell back into its week long handle to its 5 month base. Solid pattern that used the 200 day SMA (38.13) as support, a key institutional support level. Strong 7 to 3 accumulation in the base shows plenty of buying. Money flow is strong and relative strength broke out last week. Looking for MACR to finish off its handle this week and show us a strong move higher.
Volume: 901.161K Avg Volume: 858.255K
BUY POINT: New: $45.11 (orig. $44.45) Volume=1.5M Target=$52.95 Stop=$41.97
POSITION: NRQ BI - Feb. $45c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/macr.html
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 10/12 Test 20 449.53 +8.31 440.33 459 0 0 444.78
Trailing Stop.
AH 10/19 Cup hdl 44.59 -0.22 45.33 52.45 446K 780K 43.94
Current. Gapped up at the open, but gave it back testing the 10 day MVA intraday on rising, but below average volume. May continue to test back to the 10 day MVA (44.48)
AKAM 10/26 Test 18 16.59 +0.14 17.32 20.48 2.2M 2M 16.54
Current. Bounced holding the 18 day MVA on above average volume. Testing the breakout. May be ready to move up from here.
AQNT 10/15 Asc Bse 21.81 +0.78 21.15 25.15 754K 1.6M 21.42
Current. Bounced off the 10 day MVA for a nice gain on lower below average volume.
BABY 10/01 Test BO 16.65 -0.35 13.29 15.88 253K 222K 15.97
Current. Pullback on lower, but strong volume. May continue to test back to 16.39
BBBB 10/27 Test BO 28.42 -0.53 27.55 32.65 617K 367K 27.72
Current. Pullback tapping 27.77 at the intraday low and rallied back on stronger above average volume. May continue to test back to 28.
BCSI 10/22 Cup hdl 51.13 +2.74 46.15 54.95 600K 543K 50.31
Current. Big gap up at the open for a great move on excellent volume surge.
BEAV 10/10 Cup hdl 18.56 +0.06 18.05 21.68 427K 950K 17.65
Current. Continue with the uptrend on low volume.
CLDN 10/22 Cup hdl 24.27 +0.99 23.66 28.45 183K 155K 22
Buy Not Issued. Given that oil prices went up and the market made a pullback decided to wait and see if CLDN is going to pullback Friday. Additionally volume came in very late in the session.
CRM 10/21 Cup hdl 26.52 -0.39 24.41 29.22 4M 1.5M 25.42
Current. Tapped 27.84 at the intraday high, but gave it back on very strong volume surge. Still in good shape.
CWTR 10/31 Dbl btm 29.11 +0.75 27.32 31.88 870K 850K 25.87
Buy Not Issued.
DESC 10/13 Test 50 8.05 +0.01 7.55 9.45 570K 1.2M 7.02
Buy Not Issued.
DO 11/02 Cup hdl 60.54 +1.19 60.95 69.95 2.5M 2.6M 57.65
Entered today. Gapped up at the open and continued to move up tapping 61.81 at the intraday high, but gave some of it back on strong volume. Finished with a nice gain. Looking for stock to continue with the uptrend.
EMKR 09/15 Test BO 5.68 +0.22 5.62 6.98 704K 450K 5.67
Current.
ESV 10/29 DB hdl 48.29 -0.42 46.28 54.45 4.3M 4M 47.11
FLR 10/31 Asc Tri 65.22 -1.89 66.72 75.95 916K 1.1M 64.88
Current.
FLSH 10/01 Test 50 31.67 -1.2 30.61 35.98 3.1M 1M 31.12
Current.
GENZ 10/25 PreAnn 74.37 +1.23 74.19 84.98 2.6M 4M 71.95
Entered today. Gapped up at the open and continued to move up for a nice gain on stronger above average volume. Filled the gap intraday
GES 10/19 DB hdl 31.6 +3.6 26.35 31.45 2.5M 695K 29.89
Gapped up at the open and continued to explode higher on very strong volume surge.
GILD 11/02 Flat 50.79 +1.89 49.85 56.95 5M 4.2M 47.88
Entered today. Gapped up and continued to soar for a great move on strong volume surge.
GPN 10/24 PreSplt 43.91 -0.16 42.58 47.48 806K 500K 42.22
Current. Pullback on rising, but below average volume. Beginning to level off holding the gain.
GVHR 10/12 Cup hdl 26.61 +0.51 25.32 30.98 433K 391K 25.78
Current. Bounced off the 10 day MVA on strong volume. Moving up after testing the breakout.
HAE 08/31 Asc Bse 48.95 +0.06 45.22 50.98 191K 215K 47.18
Current. Gapped up at the open, but gave much of it back on rising, but average volume. May begin to level off holding the gain.
HCC 10/26 Asc Bse 31.9 -0.3 28.75 33 642K 857K 30.96
Target Hit. Pullback tapping 31.43 at the intraday low and rallied back on much lower, but average volume. Still in good shape.
HOLX 11/01 PreSplt 61.35 -0.66 59.55 65 463K 527K 59.89
Pullback on average volume. May continue to test back to 60.
HOM 10/15 Pennant 4.93 -0.3 5.18 6.39 2.6M 1.8M 5.21
Current.
IDXX 10/29 Asc Bse 68.1 -1.04 68.45 78.95 311K 215K 66.68
Buy Not Issued.
IRIS 10/22 Test BO 23.25 +0.34 21.74 24.99 143K 290K 20.88
Current. Tested the 10 day MVA intraday and rallied back on below average volume. Holding at some resistance here.
IRIS 10/13 Test BO 23.25 +0.34 20.44 24.95 143K 304K 20.88
Current.
LRCX 10/29 Test BO 35.4 +0.56 33.69 39.95 3.6M 3.5M 34.42
Current. Continue with the uptrend for a nice gain on stronger above average volume. Came off the day's high of 35.77.
MACR 10/29 Cup hdl 44.6 -0.25 44.45 52.95 901K 1.5M 41.97
Buy Not Issued. Volume not there to enter the play and need to see a clear and decisive move. If stock makes the move tomorrow with strong volume will be a buy.
MCHP 10/29 Test 50 30.6 +0.84 30.62 32.55 2M 2M 29.28
Buy Not Issued.
MINI 10/26 Cup 46.01 -0.4 46.05 52.95 56K 191K 43.89
Buy Not Issued.
MRVL 11/02 Rv H&S 47.93 +0.83 48.71 55.88 5.7M 3.5M 46.32
Entered today. Gapped up at the open tapping 50.12 at the intraday high, but gave much of it back on very strong volume surge. Should continue with its uptrend.
NTES 11/01 Dbl btm 84.11 +0.87 83.55 94.89 1.2M 1.5M 78.38
Buy Not Issued. Volume not there to enter the play. If stock makes a clear and decisive move with strong volume tomorrow will still be buy.
NTRI 10/18 Test 18 32.54 +0.35 30.86 36.75 927K 1.2M 29.95
Current. Tapped 34 at the intraday high, but gave much of it back on slightly above average volume. May begin to level off holding the gain.
NVDA 10/06 Test 18 34.65 -0.41 33.11 40.65 3.9M 6.5M 33
Current. Gapped up at the open, but gave it back on average volume. May continue to test back to 34.28.
NWRE 10/22 Cup hdl 20.26 +0.53 18.65 22.38 1.4M 487K 18
Current. Tested the 18 day MVA intraday and made a fierce rally for a great move on excellent volume surge making a 52 week high.
PACR 11/02 Cup hdl 26.9 +0.07 27.42 31.95 315K 295K 25.55
Buy Not Issued.
PEET 10/24 Cup hdl 29.16 -3.66 33.49 38.95 3.6M 284K 32.15
Buy Not Hit. The stock has not performed so will drop.
RHI 10/29 Test BO 38.26 +0.54 36.89 43.45 857K 1M 35.55
Buy Not Issued. The stock has made a low volume ascent. Will drop for now and let test back.
SMTS 10/06 Test BO 32.23 -0.47 28.63 34.24 179K 350K 30.38
Current. Big gap up the open, but gave it back on lower, but above average volume. May continue to test back to 32.
STJ 10/31 Test BO 50.02 -0.42 49.75 56.45 2.5M 2.2M 48.11
Current. Gapped down at the open and rallied back to recover some of the loss on lower, but strong volume. Still in uptrend.
SWN 10/24 PreAnn 73.2 -0.34 71.65 85.95 2.5M 2.6M 67.89
Current. Pullback on below average volume. Moving up after testing the 50 day MVA.
SYKE 10/15 Test BO 14.04 -0.04 14.09 16.95 269K 439K 14.04
Current. Pullback on lower below average volume. May continue to test bkc to 18 day MVA 13.79.
TV 10/31 DB hdl 74.36 -0.29 73.62 82.85 470K 796K 70.35
Buy Not Issued.
TWGP 10/27 Test BO 18.98 +0.37 17.95 21.45 447K 226K 18.12
Current.
UNH 10/08 Test BO 57.67 -1.9 56.32 64.95 14M 6M 58.28
Current. Big volume as some large block trades were made. Rumor
is they were tied to Fidelity Magellan. Needs to hold
at the 10 day EMA (57.39) to show the breakout is still
good.
WBSN 10/19 Cup hdl 61.04 +1.46 60.42 69.45 696K 832K 58.25
Buy Not Issued. Really thought about entering on the afternoon pullback but the volume on the upside was not huge so we decided
to wait and see if Friday brings a further test and
hold that we can use to enter.
WRES 10/19 Test BO 16.25 +0.72 16.25 19.45 359K 450K 15.42
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
FRK 10/27 Put 55.95 -0.44 54 51 633K 650K 55.78
Current. Tested the simple 50 day MVA intraday (57.81), but could not hold the gain as stock moves down below the 10 day MVA on strong volume.
NETL 10/15 Put 19.98 +0.36 19.61 18.05 453K 383K 19.92
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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