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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: CORS; GRMN; LRCX; LEH; MRVC (bonus); NUAN
Wednesday night play results:
GLW: Still making the test for the next move.
SPIL: Gapped to the 10 day EMA, held, and bounced. Still ready.
TRAD: Still in the tight handle.
AMD: Sold early but managed a modest rebound. Still ready to fall.
CYMI: Volume moved higher as CYMI bounced of the 18 day EMA.
New Plays:
Upside:
Play Date: 04/27/2006
ADBE (Adobe Systems--$39.45; +1.30; optionable): Application software
http://biz.yahoo.com/p/a/adbe.html
After Hours: $39.45
STATUS: Cup w/handle. Strong volume Thursday as ADBE breaks higher, starting the move out of its 14 week base that set up to send ADBE to a 6 year high. It reported earnings 3-22 but just kept working on the base. Solid break higher and looking to move in as it continues this move.
Volume: 7.725M Avg Volume: 4.46M
BUY POINT: $39.78 Volume=5M Target=$45.90 Stop=$37.75
POSITION: AEQ JH - Oct. $40c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/adbe.html
Play Date: 04/27/2006
DIA (Diamonds Trust (DJ30)--$113.77; +0.38; optionable): Financial services ETF
http://biz.yahoo.com/p/d/dia.html
After Hours: $113.68
STATUS: Test 18 day EMA. DIA broke higher late last week and has moved laterally since, holding above the 10 and 18 day EMA (112.93, 112.54). Thursday DIA gapped lower on the China news and then surged on the Bernanke news. Volume surged. Looking to move in as DIA continues higher. A move to the target lands us a 52%ish gain.
Volume: 14.549M Avg Volume: 6.82M
BUY POINT: $114.02 Volume=7.2M Target=$117.25 Stop=$112.42
POSITION: DIA GI - July $113c (60 delta)
http://www.investmenthouse.com/ci/dia.html
Play Date: 04/27/2006
DXPE (DXP Enterprises--$38.56; +3.79; no options): Industrial equipment
http://biz.yahoo.com/p/d/dxpe.html
After Hours: $38.38
STATUS: Breakout test. DXPE already made us some solid gain in its March run following the breakout from its 5.5 month base. After that initial run form 25 to 38, it has moved laterally the past 4 weeks, holding the 18 day EMA (34.84) the past two weeks as it sets up to continue the run after consolidating the nice breakout move. Looks as if the consolidation is over; Thursday DXPE broke higher on strong trade, gapping and then filling the gap intraday. Looking for a continued move higher to start the play.
Volume: 498.591K Avg Volume: 243.673K
BUY POINT: $38.82 Volume=300K Target=$46.60 Stop=$36.12
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/dxpe.html
Play Date: 04/27/2006
QUIK (Quicklogic--$6.15; +0.45; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/q/quik.html
STATUS: Test 50 day EMA. A relatively unknown chip stock showing good action this year as much of the sector struggled. Nice break higher in late March from an 11 week ascending base. It made a pretty big test of the move, coming back from 6.50 to the 50 day EMA (5.54), but holding the breakout. After tapping that level on the Wednesday low, QUIK blasted higher as it reported a smaller loss than expected. Looking to step in as QUIK continues the rebound.
Volume: 748.516K Avg Volume: 253.211K
BUY POINT: $6.26 Volume=325K Target=$7.55 Stop=$5.85
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/quik.html
Play Date: 04/27/2006
SLB (Schlumberger--$67.75; -0.82; optionable): Oil and gas equipment
http://biz.yahoo.com/p/s/slb.html
After Hours: $67.40
STATUS: Test 18 day EMA. While many of the energy stocks really collapsed the past two days, SLB slipped modestly, holding its breakout as it tapped the 18 day EMA (65.88) on the low and rebounded. Pretty solid test of the breakout from its 10 week base, showing a nice doji on the candlestick chart Thursday. After the worries in the oil patch blow over, SLB is likely to lead higher once more. It still has a lot of work in the Gulf, and any storm is likely to just add to the bottom line.
Volume: 10.362M Avg Volume: 12.045M
BUY POINT: $68.88 Volume=12M Target=$79.00 Stop=$65.72
POSITION: SLB HB - Aug. $67.50c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/slb.html
New buy point on current position
Play Date: 04/27/2006
LEH (Lehman Brothers--$156.01; +2.82; optionable): Brokerage. Splits 2:1 on 5-1
http://biz.yahoo.com/p/l/leh.html
STATUS: Test breakout. LEH splits on Monday, but it started to run Thursday on Bernanke's pause. WE are looking to add positions as it moves into the split as we believe LEH is going to continue running on through the actual split.
Volume: 3.198M Avg Volume: 2.155M
BUY POINT: $156.65 Volume=2.4M Target=$170.00 Stop=$153.00
POSITION: LES GK - July $155c (59 delta)
http://www.investmenthouse.com/ci/leh.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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stock split
stock recommendation
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