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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Monday night play results:
ASML: Nice doji at the 10 day EMA on low volume.
CYBS: Dumped back to the 18 day EMA
INFA: Still testing the 10 day EMA on below average volume
NVDA: Fell to the 18 day EMA on continued below average volume
New Plays:
Upside:
Play Date: 02/07/2006
MINI (Mobile Mini--$50.91; +0.76; optionable): Mobile buildings
http://biz.yahoo.com/p/m/mini.html
STATUS: Double bottom. Volume has kicked up Friday and Tuesday as MINI starts the breakout move from a 7 week base that formed using the 50 day EMA (47.76) as support. Undercut the 50 day EMA on the last leg lower and is now coming hard on solid volume. Strong 5 to 0 accumulation in the pattern shows buying as it consolidates and sets up for the breakout to a new all-time high. Super pattern and fundamentals growth.
Volume: 263.284K Avg Volume: 95K
BUY POINT: $51.39 Volume=200K Target=$58.95 Stop=$49.32
POSITION: UAC EJ - May $50c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/mini.html
Play Date: 02/07/2006
NURO (NeuroMetrix--$35.16; +0.06; no options): Medical instruments
http://biz.yahoo.com/p/n/nuro.html
After Hours: $35.14
STATUS: Reverse head and shoulders. Forming up its 14 week base despite the market selling, preparing for its break higher. A solid sector in this market and NURO is a leader in its sector, setting up for a new all-time high. Solid 5 to 3 accumulation shows net buying during the consolidation, setting up the next break higher. Looking for volume to jump as it makes its move.
Volume: 210.632K Avg Volume: 231.322K
BUY POINT: $35.82 Volume=347K Target=$41.55 Stop=$33.92
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/nuro.html
New buy point on current position:
Play Date: 02/07/2006
LRCX (Lam Research--$46.35; -0.5; optionable): Chip equipment
http://biz.yahoo.com/p/l/lrcx.html
After Hours: $46.34
STATUS: Flying plateau. Low volume as LRCX moves laterally just over the 10 day EMA (45.62), testing the strong January move higher but refusing to give up any of the ground gained on the breakout. The low volume shows no selling, just clearing out the short term profit takers. Holding up very well in the selling, and want to see volume jump back above average as LRCX makes the next break higher.
Volume: 1.592M Avg Volume: 2.628M
BUY POINT: $47.28 Volume=3M Target=$54.42 Stop=$45.52
POSITION: LMQ FI - June $45c ( delta) &/or Stock
http://www.investmenthouse.com/cd/lrcx.html
Play Date: 02/07/2006
OVTI (Omnivision Technologies--$24.44; -0.75; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/o/ovti.html
After Hours: $24.48
STATUS: Test 18 day EMA. OVTI is making its third test of the 18 day EMA (24.17) after the December gap higher that broke the stock out from a 12 month cup base. On the last move higher OVTI did not have a lot of volume, hitting the high at 26 to start February on low volume. Want to see strong volume jump ahead as OVTI moves off this level.
Volume: 1.187M Avg Volume: 2.818M
BUY POINT: $25.28 Volume=3M Target=$30 Stop=$24
POSITION: UCM FE - June $25c (51 delta) &/or Stock
http://www.investmenthouse.com/cd/ovti.html
Continuing plays ready to move:
Play Date: 02/01/2006
CVH (Coventry Health Care--$59.62; -0.76; optionable): Health care plans
http://biz.yahoo.com/p/c/cvh.html
STATUS: Ascending base. Sold some, tapping the 18 day EMA (59.10) on the lwo and rebounding to hold the 10 day EMA (59.61). Nice test and ready to make the continued breakout move. To recap: CVH had formed a nice 14 week base that was making some higher lows along the 50 day EMA (57.92) the past 6 weeks. This base formed following the mid-October split; CVH had run for 13 months and needed a breather. This base gave it that rest. Excellent 5 to 2 accumulation (5 up price weeks on rising volume to 2 down price weeks on rising volume) shows excellent buying. Looking to move in and start the play on a continued move higher and then again after the breakout test is complete.
Volume: 1.03M Avg Volume: 1.231M
BUY POINT: $61.57 Volume=1.3M Target=$70.95 Stop=$59.95
POSITION: CVH GL - July $60c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/cvh.html
Play Date: 02/02/2006
RATE (Bankrate--$35.75; -0.06; optionable): Internet banking services
http://biz.yahoo.com/p/r/rate.html
STATUS: Test breakout. Still in the very nice breakout test, showing a doji at the 18 day EMA (35.52) on low, below average volume. Holding up extremely well in the selling. Looking for a vault back up on strong trade to send RATE higher again on this breakout to a new high. Strong technically and fundamentally.
Volume: 122.583K Avg Volume: 214.905K
BUY POINT: $36.65 Volume=317K Target=$43.95 Stop=$35.28
POSITION: QIB EG - May $35c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/rate.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
COH: Some cold feet at the breakout as COH ran higher but the volume did not go with it. Closed on the 10 day EMA on lower volume. Will let it reload and try again.
NVDA: Closed at the 18 day EMA on continued below average volume. May need a couple more sessions to be ready.
UNH: Looks ready to really make some tracks lower toward the 200 day SMA at 55.
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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