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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: AMKR; AMT; BTUI; COGO; CTXS; DJO; GYMB; NUAN; OIS; VTS; WFR
Wednesday night play results:
ABI: Rallied higher but finished flat. Still ready to go.
FNSR: Nice high volume break higher.
RNWK: Volume surged. Looks ready.
TQNT: Moved higher through the buy point but backed off at the close.
CHRW: It was ready to fall over; it simply did not.
New Plays:
Upside:
Play Date: 05/04/2006
ATML (Atmel--$5.61; +0.17; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/a/atml.html
After Hours: $5.59
STATUS: Cup w/handle breakout. First solid base to form after the big 2005 dip. Solid 9 week base that broke out in mid-April. Rallied to 5.60 and made the first test the past two weeks, holding near support at the 18 day EMA (5.31). Nice bounce the past two sessions after a doji on that support to start the week. Good volume on that reversal, and rising volume Thursday. Ready to move in as volume continues on the move through the buy point. Excellent 3 to 0 accumulation in the base shows all buying. Ready to make the next move in the breakout.
Volume: 8.019M Avg Volume: 9.159M
BUY POINT: $5.72 Volume=11M Target=$7.25 Stop=$5.32
POSITION: AQT HA - Aug. $5c (64 delta) &/or Stock
http://www.investmenthouse.com/cd/atml.html
Play Date: 05/04/2006
JOBS (51job, Inc.--$24.32; +0.64; no options): Staffing and outsourcing
http://biz.yahoo.com/p/j/jobs.html
STATUS: Test breakout. The jobs report is out tomorrow and JOBS is set up to continues its mid-April breakout. Strong move from a 12 week base, and making its second test of the 10 day EMA (23.34) as it makes its breakout run. Excellent volume on the upside moves and nice low volume on the tests; perfect price/volume action. Ready to move in as it continues higher on a return of volume. A new issue in October 2004 that fell into a long base in 2005. This last base was the first one off of that low, meaning it has a lot of upside ahead of it.
Volume: 104.525K Avg Volume: 138.711K
BUY POINT: $24.67 Volume=165K Target=$30.00 Stop=$23.21
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/jobs.html
Play Date: 05/04/2006
MCHP (Microchip--$38.15; +0.95; optionable): Semiconductors
http://biz.yahoo.com/p/m/mchp.html
After Hours: $38.17
STATUS: Cup w/handle. MCHP made a few attempts at breaking out in April, but in the market chop it just couldn't quite make the real breakaway move; it would start, but then fade. Nice 14 week base formed above the 50 day EMA (36.35), consolidating and setting up for a new all-time high. Made a higher low at that level the past week and jumped higher this week. Solid move Thursday on rising almost average volume. Money flow is leading higher as MCHP readies for the new all-time high. Solid 4 to 2 accumulation in the base. Looks nice and looks ready. A leader in the market and solid fundamentals.
Volume: 1.56M Avg Volume: 1.579M
BUY POINT: $38.64 Volume=2.4M Target=$45.00 Stop=$37.00
POSITION: QMT JG - Oct. $35c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/mchp.html
Play Date: 05/04/2006
TTEC (Teletech Holdings--$13.38; +0.38; optionable): Outsourced customer management services
http://biz.yahoo.com/p/t/ttec.html
After Hours: $13.37
STATUS: Cup w/handle. Strong break higher Thursday on the strongest volume in 5 months after reporting strong earnings Wednesday. The move is breaking it to a 4 year high. Outstanding 6 to 1 accumulation in the base shows all buying, complemented by the strong money flow. Very nice pattern in great position.
Volume: 1.018M Avg Volume: 300.847K
BUY POINT: $13.52 Volume=350K Target=$16.32 Stop=$12.75
POSITION: QTC JV - Oct. $12.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/ttec.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: Nice bounce off the 50 day EMA carried AAPL up to the early April high where it is stalling and working laterally the past two sessions. A bit more lateral work and it is ready to try a break over that level.
BRCM: Working laterally the past week on low volume as the 10 day EMA crowds down on it. How it reacts to the 10 day EMA will show if it has any strength.
COH: Still unable to get through the 10 day EMA on the rebound attempt.
MRVL: Still working on the double bottom, trying to get to the 50 day EMA (57.96) to show us if it has anything left in the tank.
NVDA: Excellent action, easing back toward the 10 day EMA after the strong move to start the week.
SUBSCRIBER WATCHLIST
CNI: Railway. Basically a 45 degree uptrend since 2003 has tripled the price. After that long run it needed a breather and is moving laterally the past 13 weeks along the 50 day EMA, trying to set up for another move. Not there yet as got a bit volatile to end April, undercutting the 50 day EMA before rebounding to continue the lateral move. Good but needs more work.
ENER: 15 week cup with handle, currently forming the handle at the 18 day EMA. Base formed using the 50 day EMA as support, a good indication of institutional accumulation. Nice base setting up just below an all-time high.
HGT: High flier from 2003 through 2005. Now it is in a 3 month downtrend after failing to complete a 4 month base, breaking down in February. Tanked on high volume to end April. Lower volume rebound this month to the 18 day EMA is setting up the next run lower.
NAT: Shipping. After a 15 month downtrend NAT managed to crack through the 200 day SMA this week for the first time in 9 months. Gapped through on strong volume. Not bad, gapping higher to try and reverse the downtrend.
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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us stock market
stock recommendation
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