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us stock market, trade stock
Begin part 3 of 3
Part 2 will be forwarded later tonight. The flu bug has hit the office and left the staff cut back tonight.
THE PLAYS
Good movers: AH; CTRP; CYMI; DIOD; ENER; DO; FORM; GG; GLG; NETL; NTRI; RDC; SLAB; TFSM; TOMO; TRID
Strong plays:
1) AMT: Nice set up for a breakout with some strong volume
2) DO: Ready to resume the move.
3) AMD: Looking ready to fall.
4) NURO: Heading toward the breakout.
NEW PLAYS:
Upside plays:
Play Date: 04/19/2006
AMT (American Tower--$32.47; +0.68; optionable): Wireless and broadcast communications sites
http://biz.yahoo.com/p/a/amt.html
EARNINGS: 4-26-06
STATUS: Double bottom w/handle. Volume surged Wednesday as AMT broke higher in the handle to its 7 week base that is setting AMT up for a 6 year high. Very nice pattern that formed using the 50 day EMA (30.69) as support, a key level where institutions accumulate shares. They have been doing that as the excellent 4 to 0 accumulation shows (4 up price weeks on rising volume to 0 down price weeks on rising volume). Money flow is surging higher, a good complement to the accumulation. Ready to move in as AMT continues the breakout move. Solid.
Volume: 4.956M Avg Volume: 2.912M
BUY POINT: $32.68 Volume=3M Target=$37.95 Stop=$31.38
POSITION: AMT JT - Oct. $32.50c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/amt.html
Play Date: 04/19/2006
NTES (Netease.com--$23.03; -0.17; optionable): Chinese internet; interactive wireless and online services
http://biz.yahoo.com/p/n/ntes.html
EARNINGS: 5-16-06
After Hours: $23.10
STATUS: Test 18 day EMA. NTES continues its average to low volume, lateral move over the 18 day EMA (23.17) after trying to make the breakout in mid-March but fading back after rallying to 25.50. Consolidating for a shot at a new all-time high, but need to see very strong trade as it resumes the move higher. Formed a 6 month cup with handle that set up this move. Split in late March and working its way through those extra shares, but like how it is holding a fairly tight lateral move.
Volume: 1.298M Avg Volume: 3.125M
BUY POINT: $24.05 Volume=4.7M Target=$28.88 Stop=$22.37
POSITION: NQG IX - Sept. $22.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/ntes.html
Play Date: 04/19/2006
VLTR (Volterra Semiconductor--$18.71; -0.21; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/v/vltr.html
Earnings: 4-24-06
STATUS: Ascending base. After a tough 2005, VLTR has set back up, forming the current 10 week base along the 50 day EMA (17.58), making higher lows along that key support level while moving laterally below a constant top at 19ish. That shows pressure building up from below, ready to blast VLTR higher in a strong breakout move. Positive accumulation shows net buying, helping further set up the breakout move. A new issued in July 2004, this current pattern is part of a much larger 17 month cup with handle base, and that is setting VLTR up for a strong breakout move. Earnings are coming and could be the catalyst to break it out.
Volume: 153.037K Avg Volume: 320.678K
BUY POINT: $19.55 Volume=481K Target=$23.50 Stop=$18.22
POSITION: QYU IW - Sept. $17.50c (68 delta) &/or Stock
http://www.investmenthouse.com/ct/vltr.html
Downside:
Play Date: 04/19/2006
AMD (Advanced Micro Devices--$31.54; +0.31; optionable): Semiconductors
http://biz.yahoo.com/p/a/amd.html
After Hours: $31.54
STATUS: Put. INTC's long-time rival, AMD has stolen market share from INTC and steadily improving its bottom line. That, however, has not helped it. After a good run in 2005 it peaked in February on low volume and rolled over to start March. It tried find some support through last week, holding over 32.50. It collapsed last week on high volume as it reported earnings; if it is taking market gain and folded, it was no surprise INTC's earnings were the pits. It has now made a low volume bounce. Wednesday it tapped at the 10 day EMA (32.72) on the high and fell back. Looking for AMD to continue following the money flow lower. A move to the target lands us a 42%ish gain.
Volume: 20.978M Avg Volume: 18.229M
BUY POINT: $31.35 Volume=19M Target=$29.55 Stop=$31.72
POSITION: AKD QZ - May $32.50p (-51 delta)
http://www.investmenthouse.com/ct/amd.html
New buy point on current position:
Play Date: 04/19/2006
DO (Diamond Offshore--$95.02; +1.32; optionable): Offshore oil and gas drilling
http://biz.yahoo.com/p/d/do.html
EARNINGS: 4-26-06
STATUS: Test breakout. DO has bunched up below 95 the past three weeks, making higher lows along the 10 day EMA (92.53). DO is building pressure from below for the next move higher. Volume surged Tuesday and Wednesday, volume spikes that tell us to get ready for the next move higher. DO can run like the wind when it starts. Looks ready to make a move into its earnings.
Volume: 3.819M Avg Volume: 2.784M
BUY POINT: $95.48 Volume=2.8M Target=$109.95 Stop=$92.25
POSITION: DO IS - Sept. $95c (58 delta) &/or Stock
http://www.investmenthouse.com/ct/do.html
CONTINUING PLAYS
Play Date: 04/10/2006
NURO (NeuroMetrix--$39.20; +1.30; no options): Medical instruments
http://biz.yahoo.com/p/n/nuro.html
STATUS: Ascending base. Good action Wednesday as NURO headed toward the breakout on rising though still below average volume. Just needs to show continuing volume as it moves through the buy point. To recap: NURO is ready to break to a new all-time high as it emerges from its 7 week base that is part of a larger 5.5 month pattern. Volume surged last 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: 90.161K Avg Volume: 159.992K
BUY POINT: $39.65 Volume=248K Target=$47.55 Stop=$37.11
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/nuro.html
Play Date: 04/14/2006
QUIK (Quicklogic--$6.13; +0.13; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/q/quik.html
STATUS: Breakout test. Got a bit precarious Tuesday, fading to the 18 day EMA (5.95) on a strong shot of above average volume. Wednesday it calmed a bit, testing the 18 day EMA again but then rebounding. Volume did not advance with it, however. Still a solid test and looking for a volume bounce to give us another entry point. To recap: QUIK has already made us some quick money after its late March breakout from a 10 week base. It surged higher on strong volume, peaking out early this week at 6.50ish. If faded the rest of the week, tapping all the way down to the 18 day EMA three times the past week, rebounding on stronger, above average volume. Nice shakeout with the buyers jumping right back in when they got the chance. That shows us QUIK is still in demand. Looking for another volume move higher and ready to move in as it moves through the buy point.
Volume: 193.39K Avg Volume: 253.478K
BUY POINT: $6.48 Volume=315K Target=$7.78 Stop=$6.05
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/quik.html
Play Date: 04/12/2006
SMSI (Smith Micro Software--$11.60; -0.29; no options): Application software
http://biz.yahoo.com/p/s/smsi.html
STATUS: Test 18 day EMA. SMSI continues holding above the 18 day EMA (11.60), reaching below that level intraday and once more and rebounding. Volume remains low, showing consolidation, not selling. Being patient, letting it set up and make us some more money. To recap: Made us some great money on its last surge higher in late March. It peaked and started back and we took our gain. Now it has tested, tapping at the 18 day EMA on the lows. This test came back to tap the December 2004 high, the point that marks the left side of the long 16 month cup with handle base. A tremendous breakout and a very nice test. Looking to move back in and have SMSI make us some nice scratch once more.
Volume: 149.446K Avg Volume: 308.824K
BUY POINT: $12.11 Volume=400K Target=$14.65 Stop=$11.38
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/smsi.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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