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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: AH; BITS; PALM; QCOM; STLD; TTMI
Weekend play results:
BITS: Solid trade continues as BITS moves higher
CKFR: Nice test of the 10 day EMA. Looks as if the test is just about over.
LIFC: Tried to make the run higher but faded into the close
SUN: Faded but still nicely forming the handle to its base.
New Plays:
Upside:
Play Date: 04/24/2006
AMX (America Movil--$35.50; +0.21; optionable): Wireless telecom
http://biz.yahoo.com/p/a/amx.html
STATUS: Flat base. AMX is looking sold, moving toward the top of the range in its 13 week base formed just below a new all-time high and above the 50 day EMA (33.95), using that key level as support. Positive accumulation shows net buying as AMX sets up for the breakout move. Strong market leader with an excellent pattern and some market leading earnings and sales growth rates. Solid.
Volume: 1.882M Avg Volume: 3.587M
BUY POINT: $36.15 Volume=5.4M Target=$43.00 Stop=$33.78
POSITION: AMX HG - Aug. $35c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/amx.html
Play Date: 04/24/2006
AMKR (Amkor Technology--$10.37; +0.01; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/a/amkr.html
After Hours: $10.36
STATUS: Breakout test. Volume surged midweek last week as AMKR broke out from its 6 week reverse head and shoulders base. Strong 3 to 1 accumulation in the pattern (3 up price weeks on rising volume to 1 down price weeks on rising volume) shows plenty of buying, setting up the breakout, along with the strong money flow. Nice surge, good test. Ready to move in as AMKR rebounds off of this nice test.
Volume: 2.832M Avg Volume: 4.336M
BUY POINT: $10.65 Volume=5M Target=$12.85 Stop=$9.95
POSITION: QEL IB - Sept. $10c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/amkr.html
Play Date: 04/24/2006
BMD (Birch Mountain Resources--$8.35; +0.40; optionable): Gold
http://biz.yahoo.com/p/b/bmd.html
STATUS: Double bottom w/handle. Solid volume Monday, climbing back up to average as BMD moves toward the breakout from its 19 week base. BMD made us some good money in its 2005 run and it needed a breather before continuing the next move. This base has given it that breather. Positive accumulation and relative strength ready for the breakout once more to start the run and make us some more money.
Volume: 818.1K Avg Volume: 774.219K
BUY POINT: $8.59 Volume=1.2M Target=$10.50 Stop=$7.99
POSITION: BMD IU - Sept. $7.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/bmd.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, BRCM, CELG, COH, FFIV, GME, MRVL, NVDA, PSYS, UNH
AAPL: Slipping lower, falling through the 50 day EMA (66.53).
BRCM: Diving lower still.
CELG: Turned right back up and moved through the 50 day EMA on stronger, above average volume. Good recovery.
FFIV: Making the lower volume rebound to test the gap lower.
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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