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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: ALXN; BMD; IVIL; ODSY; PTC; RADS
Weekend play results:
EMKR: Still in a very nice test of last week's surge higher.
PTC: Strong breakout.
RADS: Strong gap higher.
ASML: Trying to make the break but needs more volume.
HCSG: Not much volume as it moves higher.
Upside:
Play Date: 11/21/2005
BEAV (BE Aerospace--$18.50; +0.28; optionable): Commercial and business aircraft interiors
http://biz.yahoo.com/p/b/beav.html
STATUS: Breakout test. BEAV broke out in early October from a 9 week double bottom with handle base and then rallied up the 10 day EMA (18.17). The past two weeks it has faded back to test the move, holding the 18 day EMA (18.07) on very low, below average volume. Strong 6 to 2 accumulation in the base (6 up price weeks on rising volume to 2 down price weeks on rising volume) shows strong accumulation in the pattern. Monday BEAV was moving higher on some good news in the airline industry (Boeing getting a lot of orders for its planes), but volume was not there. Looking for more trade on the continued move higher.
Volume: 322.07K Avg Volume: 591.526K
BUY POINT: $18.68 Volume=600K Target=$21.95 Stop=$17.88
POSITION: BQV DW - Apr. $17.50c (67 delta) &/or Stock
http://www.investmenthouse.com/cd/beav.html
Play Date: 11/21/2005
CASY (Caseys General Stores--$22.97; -0.19; no options): Midwest convenience stores
http://biz.yahoo.com/p/c/casy.html
STATUS: Cup w/handle. CASY is setting up for the breakout to a new all-time high, forming a handle to a 7 week base that formed roughly around the 50 day EMA (21.83). Volume moved back up to average Monday as CASY held steady over the 10 day EMA (22.72). Looking for a test of the 10 day EMA to set up the breakout move.
Volume: 254.588K Avg Volume: 288.14K
BUY POINT: $23.48 Volume=432K Target=$27 Stop=$22.31
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/casy.html
Play Date: 11/21/2005
SCHN (Schnitzer Steel--$34.32; +2.43; optionable): Steel and iron salvage, recycling
http://biz.yahoo.com/p/s/schn.html
STATUS: Cup w/handle. A huge leader in 2004, after that meteoric run SCHN needed a breather. It has taken quite a blow, forming an 18 month base through early 2005 and then the current 9 month base with a nice flat 10 week handle trying to close it out. Strong above average volume Monday as SCHN started the breakout move. Excellent 8 to 2 accumulation (8 up price weeks on rising volume to 2 down price weeks on rising volume) shows plenty of buying in this base. A very nice rebuild of a strong stock, and we are ready to move in as SCHN continues higher.
Volume: 613.635K Avg Volume: 440.364K
BUY POINT: $34.55 Volume=615K Target=$40.85 Stop=$32.13
POSITION: SQQ BG - Feb. $35c (49 delta) &/or Stock
http://www.investmenthouse.com/cd/schn.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, BR, COH, NVDA, PSYS, RTSX, STN, UNH
BR: Did not move lower but broke back up through the 50 day EMA (70.44) as it continues to try and build a double bottom base using 65 as support.
COH: Still recovering, working laterally over the 18 day EMA, forming a handle to its 17 week base.
PSYS: Trying to rebound from the higher volume selling Friday. Needs to clear 58 on some volume or it will likely test the 50 day EMA (54.63).
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.
PKI: Volume jumped sharply Monday as PKI moves toward the breakout from its 10 month cup with handle base. Not a bad pattern at all PKI's fundamentals are not market leading.
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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