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stock split, stock recommendation
Begin Part 4 of 4
POST SPLITS REMAINING PLAYS:
Watchlist:
JNJ ($60.00; -0.07): Tried to breakout today, but volume remained steady and light at 6.66 million (average 8.02 million). Off of the loose doji could see a move back to the 10 day or 18 day (59.33 and 58.82) before another strong run attempt. The breakout buy point is now 60.81 on volume of 10 million or more, with stock and/or January $55 calls to buy (JNJ AK).
Plays:
JNC (John Nuveen--$49.33; +0.03; no options): Financial Services. Split 3:2 effective September 28.
http://biz.yahoo.com/p/j/jnc.html
STATUS: Tuesday's reasonably strong breakout move has stalled and JNC is now holding over, showing a couple of dojis as volume has dropped significantly (down to 20,000, average 60,400). Not bad action, so we will see if it is resting or if we will get a breakout test. We would prefer a breakout move to last more than one session, but if it can hold support (10 day MVA at 48.47) it could still continue with a strong move.
PLAY: From here: A move over 49.58 (Wednesday high) on increased, above average volume, with stock. Test: After a test of the 10 day, a move back over 49 on above average volume, with stock.
WFMI (Whole Foods--$40.75; +3.15; optionable): Grocery Stores. Split 2:1 June 5.
http://biz.yahoo.com/p/w/wfmi.html
STATUS: Terrific breakout today! WFMI had moved out of its small cup, edging up along the 10 day MVA (37.54). Not the best action, but on good earnings WFMI sailed through our buy point on huge volume of 3.47 million (average 601,300) on its way up to the new all time high of 41.14. The stock pulled back just a bit at the close, but still closed over our 5% breakout "buy range", so we will enjoy this run for current positions, and look for a lower volume pullback to provide the next opportunity to take additional positions.
PLAY: After a lower-volume profit taking holds over the pivot (38.62) we can look for a stronger move back up. Stock and/or February $35 calls to buy (FMQ BG).
Good Investing!
Jon L. Johnson and the Stock Split Report 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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stock split
stock recommendation
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