us stock market, stock split

Begin part 3 of 3

THE PLAYS

Good movers: AMT; AMX; CORS; GG; GLG; ITRI; SMSI; VIVO

Tuesday night play results:
CORS: Nice break higher on a good shot of volume.
VICR: Nice break higher. Strong volume.
VSH: Turned back down to the 10 day EMA. Still a good pattern
CYMI: Still holding the 10 day EMA, still getting ready to rebound.

New Plays:

Upside:

Play Date: 04/26/2006
GLW (Corning--$28.40; +0.80; optionable): Telecom equipment, fiber, etc.
http://biz.yahoo.com/p/g/glw.html
After Hours: $28.40
STATUS: Test 18 day EMA. GLW broke from a 6 week ascending base last week on some solid trade. This was the second base in a base on base pattern the past 13 weeks, moving up the 50 day EMA (26.37), using that as support for higher and higher lows. It came back to test this week, holding at the 18 day EMA (27.45) Tuesday and Wednesday, starting the rebound Wednesday on strong, above average volume. Very solid. Looking to move in as GLW continues higher on more solid trade.
Volume: 19.903M Avg Volume: 10.544M
BUY POINT: $28.69 Volume=12M Target=$34.00 Stop=$27.32
POSITION: GLW HE - Aug. $25c (74 delta) &/or Stock
http://www.investmenthouse.com/ci/glw.html

Play Date: 04/26/2006
SPIL (Siliconware Precision--$7.40; +0.40; optionable): Chip equipment
http://biz.yahoo.com/p/s/spil.html
After Hours: $7.50
STATUS: Reverse head and shoulders. SPIL split in July and then rallied well to end 2005. After that move it needed a rest and the current 15 week pattern is giving it that. Good price/volume action in the pattern combined with money flow that is turning higher the past week. Great volume Wednesday as SPIL jumped higher, clearing some resistance. Looking to move in as it continues this break higher. Solid. Ready to move to a new 5 year high.
Volume: 3.136M Avg Volume: 1.899M
BUY POINT: $7.51 Volume=2.2M Target=$9.11 Stop=$6.98
POSITION: QSP IU - Sept. $7.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/spil.html

Play Date: 04/26/2006
TRAD (Tradestation--$16.03; +0.29; optionable): Investment brokerage, etc.
http://biz.yahoo.com/p/t/trad.html
After Hours: $16.06
STATUS: Cup w/handle. Nice lateral move the past week, forming a nice handle to its 12 week base that is setting TRAD up for the breakout to a new all-time high. The base formed around the 50 day EMA (15.06), roughly using that as support as it prepares for the breakout. Good volume surge the past week after a very low volume start to April. Reported solid earnings Tuesday, bounced down to the 18 day EMA and then jumped back up. Ready to move in when it shows us the volume move through the highs in the handle. Excellent sales and earnings growth.
Volume: 864.54K Avg Volume: 1.085M
BUY POINT: $16.45 Volume=1.6M Target=$19.75 Stop=$15.42
POSITION: ULR IC - Sept. $15c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/trad.html

Downside:

Play Date: 04/26/2006
AMD (Advanced Micro Devices--$32.80; -0.61; optionable): Semiconductors
http://biz.yahoo.com/p/a/amd.html
STATUS: Put. Taking another look at AMD now that it has rebounded close to the 50 day EMA (34.39) and looks to have run out of steam. Lower volume as it moved through the 18 day EMA (33.07), not quite making it to the 50 day before it turned over Wednesday and fell to the 10 day EMA (32.64). Looking for volume to pick up as AMD falls through the 10 day; that is where we want to move in. Money flow is in the tank, and after a modest blip higher on this rebound, it is already turning lower again. A move to the target lands us a 42%ish gain, but if it is falling hard when it hits that level we will likely let it continue.
Volume: 10.757M Avg Volume: 17.5M
BUY POINT: $32.55 Volume=18M Target=$30.75 Stop=$32.90
POSITION: AKD RZ - June $32.50p (-41 delta)
http://www.investmenthouse.com/ci/amd.html

New buy point on current position:

Why not again?

Play Date: 04/25/2006
CYMI (Cymer--$51.43; -0.76; optionable): Chip equipment
http://biz.yahoo.com/p/c/cymi.html
After Hours: $51.50
STATUS: Test breakout. CYMI is still in the breakout test, undercutting the 10 day EMA (51.52) on the low and then rebounding to hold that level on the close. Excellent shakeout; just needs to give us the move. To recap: CYMI blasted higher last week on strong volume, moving to a 5 year high on a strong earnings report. It has come back to test the move, holding above the 10 day EMA on lower but still strong volume. Looking for this market leader to make the test of the 10 day and then start back up for a continued run. That is when we will move in once more.
Volume: 1.332M Avg Volume: 989.483K
BUY POINT: $52.65 Volume=1.5M Target=$62.00 Stop=$51.22
POSITION: CQG HJ - Aug. $50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/cymi.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.

us stock market
stock split