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Begin part 3 of 3
THE PLAYS
Good movers: ABAX; INFA; IVAC; MINI; SIRF; DST
Wednesday night play results:
CHE: Surged again but close well off the high so we held off.
DIOD: Low volume pause.
MGI: Nice low volume rest, setting up for the breakout.
MSCC: Nice doji at the 18 day EMA.
PDS: Doji below the 50 day EMA. Ready to fall.
New Plays:
Upside:
Play Date: 02/23/2006
AQNT (Aquantive--$27.38; +1.54; optionable): Internet services
http://biz.yahoo.com/p/a/aqnt.html
After Hours: $27.40
STATUS: Test 50 day EMA. AQNT is working laterally in a range over the past 13 weeks, trading around the 50 day EMA (25.77). This week it tested again on low volume and jumped higher Thursday on very strong trade. Showing some big upside volume spiked the past two weeks, and that indicates buying. The pattern is similar to a head and shoulders, and that is not positive, but the action shows accumulation; indeed it is 3 to 1 since January (3 up price weeks on rising volume to 1 down price weeks on rising volume). Money flow is surging higher. Looking for AQNT to power through the 28 shoulder tops on strong volume to start the play. A top ranked stock in earnings and sales growth.
Volume: 2.27M Avg Volume: 1.221M
BUY POINT: $28.11 Volume=1.8M Target=$33.75 Stop=$26.25
POSITION: QBT FE - June $25c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/aqnt.html
Play Date: 02/23/2006
CEPH (Cephalon--$76.49; +1.30; optionable): Drugs.
http://biz.yahoo.com/p/c/ceph.html
After Hours: $76.39
STATUS: Ascending triangle. After a strong surge from September to January, CEPH needed a breather. This 6 week pattern formed over the 18 day EMA (73.24) has given it the rest and is ready to propel it higher and continue toward a new all-time high. This is the handle to a long, 4 year double bottom base. Volume has come to life the past three months, indicating plenty of buying in CEPH. That is what will drive it higher out of this current lateral move that shows excellent 4 to 1 accumulation.
Volume: 2.074M Avg Volume: 2.726M
BUY POINT: $76.72 Volume=3M Target=$92 Stop=$74.05
POSITION: CQE HP - Aug. $80c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/ceph.html
Play Date: 02/23/2006
IEX (Idex--$47.74; +1.49; optionable): Engineered industrial products.
BACKGROUND: Last announced a 3:2 split on 4-22-04 at $44.80.
http://biz.yahoo.com/p/i/iex.html
STATUS: Test breakout. IEX is just coming off of its late January earnings announcement that helped break it out from its 18 week base. This is its second test of that breakout, holding the 18 day EMA (45.78) on each test. A strong stock will power up that support and IEX is doing that, showing a big doji Wednesday and a strong surge Thursday, both sessions on strong volume. Ready to start the play with a partial position as it continues higher and then will add on the next test. Strong fundamentals to go along with its great pattern.
Volume: 370K Avg Volume: 188.574K
BUY POINT: $48.05 Volume=200K Target=$55.35 Stop=$46.36
POSITION: IEX GI - July $45c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/iex.html
Play Date: 02/23/2006
VMC (Vulcan Materials--$79.53; +1.26; optionable): Building materials
http://biz.yahoo.com/p/v/vmc.html
STATUS: Test breakout. VMC is moving laterally above the 10 day EMA (77.94) as that near support moved up to the stock after its big break higher to start the month. Great earnings helped propel VMC to the breakout from its 16 week base that formed along the 50 day EMA (73.32) and sporting strong 5 to 2 accumulation. Money flow is strong and moving higher. Volume is great, showing strong sessions on upside gains. Looking to move in as it breaks through near resistance on some rising, above average volume. A solid leader with great fundamentals as well.
Volume: 539.4K Avg Volume: 555.998K
BUY POINT: $80.11 Volume=800K Target=$92 Stop=$77.45
POSITION: VMC HP - Aug. $80c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/vmc.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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