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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: CTXS; DO; EZPW; DXPE; HA; RDC; STLD; VTS
Weekend play results:
AHC: Still forming the nice handle.
DO: Solid move higher
LRCX: Gapped lower, still trying to form up for the next move.
SLAB: A further low volume test to the 10 day EMA
AH: Still testing above the 10 day EMA on low volume.
NUAN: Nice doji at the 18 day EMA.
New Plays:
Upside:
Play Date: 04/10/2006
MGPI (MGP Ingredients--$19.09; +0.37; optionable): Specialty ingredients
http://biz.yahoo.com/p/m/mgpi.html
After Hours: $19.17
STATUS: Cup w/handle breakout. MGPI surged higher last Wednesday, blasting out of a nine week cup with handle. It side-stepped for two sessions and then started higher Monday on continued strong, above average volume. Outstanding 5 to 0 accumulation in the base set up the move. Perfect price/volume action with trade drying up in March on the lows and starting higher as it formed the right side of the base and of course surging on the breakout. Strong across the board with a strong relative strength breakout to boot. Looking to start the play as it continues higher on solid trade.
Volume: 575.994K Avg Volume: 172.149K
BUY POINT: $19.38 Volume=258K Target=$23.45 Stop=$18.05
POSITION: MQK IW - Sept. $17.50c (71 delta) &/or Stock
http://www.investmenthouse.com/ci/mgpi.html
Play Date: 04/10/2006
NURO (NeuroMetrix--$38.96; +0.67; no options): Medical instruments
http://biz.yahoo.com/p/n/nuro.html
STATUS: Ascending base. NURO is ready to break to a new all-time high as it emerges from its 5 week base that is part of a larger 5.5 month pattern. Volume surged Monday as NURO rallied to 40.16 on the high but could not hold onto the entire move what with the market fading in the afternoon. Excellent 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume) shows all buying and setting up the breakout and rally.
Volume: 360.026K Avg Volume: 165.146K
BUY POINT: $39.65 Volume=248K Target=$47.55 Stop=$37.11
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/nuro.html
Play Date: 04/10/2006
PLLL (Parallel Petroleum--$21.26; +0.97; optionable): Independent oil and gas
http://biz.yahoo.com/p/p/plll.html
After Hours: $21.50
STATUS: Cup w/handle breakout. Volume jumped after a two day respite, resuming its above average position as PLLL resumed the breakout from its 9 week base. Volume jumped last week as PLLL made the initial break higher, paused and then surged again today as PLLL moves to a new all-time high. Strong 3 to 1 accumulation shows plenty of buying to support a strong move on this breakout. Money flow is surging higher, leading the way. Ready to move in as PLLL continues the breakout move.
Volume: 794.231K Avg Volume: 485.564K
BUY POINT: $21.55 Volume=565K Target=$25.88 Stop=$20.25
POSITION: QPF JD - Oct. $20c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/plll.html
Play Date: 04/10/2006
RHAT (Red Hat--$29.85; +2.42; optionable): Enterprise operating systems
http://biz.yahoo.com/p/r/rhat.html
After Hours: $29.85
STATUS: Reverse head and shoulders. Taking another look at RHAT as it blasts off the 50 day EMA (27.77) on strong volume as it announced an acquisition early Monday. The move starts the breakout from its 13 week base that formed along the 50 day EMA (27.77), a good perch for a move to a new 5-year high.
Volume: 11.334M Avg Volume: 3.71M
BUY POINT: $30.21 Volume=5M Target=$36.25 Stop=$28.25
POSITION: RCV IF - Sept. $30c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/rhat.html
Play Date: 04/10/2006
WTI (W&T Offshore--$42.54; +1.60; optionable): Oil & gas drilling
http://biz.yahoo.com/p/w/wti.html
STATUS: Double bottom w/handle. WTI is a new issue in this sector (IPO in January 2005), and it is trying for a new high as it starts the breakout from its 9 week base that formed using the 50 day EMA (37.85) as support. Very nice fundamentals growth. Volume was up Monday, but still below average. Needs more volume as it continues its move higher.
Volume: 304.7K Avg Volume: 350.557K
BUY POINT: $42.88 Volume=526K Target=$51.50 Stop=$40.32
POSITION: WTI GH - July $40c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/wti.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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trade stock
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