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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: AMX; BLKB; GG; GLG; LRCX; KGC; RIO; RYI; RNWK; VTS
Monday night play results:
KGC: Nice volume as KGC continues its move off the 18 day EMA.
ORCC: Lower volume pause after the strong Monday move.
PDS: Still nice and tight at the 10 day EMA
XLE: Still ready to move after a low volume test.
New Plays:
Upside:
Play Date: 05/09/2006
IAG (Iamgold--$9.98; +0.34; optionable): Gold
http://biz.yahoo.com/p/i/iag.html
After Hours: $10.00
STATUS: Cup w/handle. Volume surged Tuesday as IAG bumped its head against the breakout once more as it moves in a week long lateral range just below 10. This is part of a 14 week base formed along the 50 day EMA (9.09) as IAG set up for the next move. Outstanding 6 to 0 accumulation in the pattern (6 up price weeks on rising volume to 0 down price weeks on rising volume) shows all buying as it consolidated its last move. Looks ready for a nice breakout once more.
Volume: 883.9K Avg Volume: 431.261K
BUY POINT: $10.12 Volume=500K Target=$12.21 Stop=$9.53
POSITION: IAG IB - Sept. $10c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/iag.html
Play Date: 05/09/2006
OPLK (Oplink Communications--$19.14; -0.11; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/o/oplk.html
STATUS: Breakout test. Moving laterally in a very tight range the past week, easing back while the 10 day EMA (18.97) moves up to catch up with it. Strong breakout to end April on a strong earnings report took OPLK out of a neat 15 week flat base sporting excellent 4 to 1 accumulation. Strong money flow and a relative strength breakout on the move. Looking to move in as OPLK rebounds on strong volume. Volume jumped up toward average Tuesday; looking for it to continue as the breakout move continues.
Volume: 273.267K Avg Volume: 267.234K
BUY POINT: $19.65 Volume=401K Target=$23.65 Stop=$18.57
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/oplk.html
Play Date: 05/09/2006
SLB (Schlumberger--$71.78; +0.80; optionable): Oil and gas service company
http://biz.yahoo.com/p/s/slb.html
STATUS: Breakout test. We said we were going to look at SLB when it finished its test, and it looks like it has done that, a very shallow one. SLB broke out from a 10 week base in mid-April. It is making its second test of that breakout, tapping at the 18 day EMA (69.23) Monday and rebounding to hold the 10 day EMA (70.69). Bounced some more Tuesday but no volume yet. Just looking for a bit more trade as it continues the breakout move. Strong 4 to 2 accumulation in the base shows plenty of buying to send it higher.
Volume: 5.42M Avg Volume: 11.085M
BUY POINT: $72.38 Volume=12M Target=$86.00 Stop=$69.15
POSITION: SLB HC - Aug. $72.50c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/slb.html
Play Date: 05/09/2006
SNDK (Sandisk--$63.35; -1.35; optionable): Semiconductor, flash memory
http://biz.yahoo.com/p/s/sndk.html
After Hours: $63.60
STATUS: Ascending base. Okay, SNDK is looking perky again with volume surging Tuesday as it bumps up again the highs in its 5 week lateral move above the 50 day EMA (60.74). This is part of a 16 week cup base, ready to come off the bottom and form the right side of the pattern. That move can make us some solid coin because SNDK is setting up a pattern that delivers a strong break higher. Like the volume and looking for it to continue as SNDK clears the highs in the 5 week range.
Volume: 17.119M Avg Volume: 11.213M
BUY POINT: $65.88 Volume=17M Target=$79.00 Stop=$62.38
POSITION: SWF JU - Oct. $67.50c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/sndk.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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trade stock
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