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stock recommendation, stock market report
Begin part 2 of 2
THE PLAYS
Good movers: ABX; AL; AUY; EGO; GG; GLG; RYI
NEW PLAYS:
Upside plays:
Play Date: 05/09/2006
GOOG (Google--$408.80; +14.02; optionable): Internet search, etc.
http://biz.yahoo.com/p/g/goog.html
After Hours: $409.85
STATUS: Test 50 day EMA. Taking another look as it is ready. Solid volume gain Tuesday as GOOG jumped off a week long lateral move along a key support level (the 50 day EMA 396.42). It has fully filled the gap in April when it did it right on the earnings announcement. Now all that fluff is out and it looks ready to make another run. Using June options so we are looking for GOOG to make a pretty fast surge up to the April gap up high at 450.
Volume: 9.144M Avg Volume: 11.976M
BUY POINT: $411.35 Volume=13M Target=$450.00 Stop=$404.00
POSITION: GOP FB - June $410c (54 delta)
http://www.investmenthouse.com/ct/goog.html
Play Date: 05/09/2006
HAL (Halliburton--$81.77; +1.76; optionable): Oil and gas service company
http://biz.yahoo.com/p/h/hal.html
After Hours: $82.00
STATUS: Test 18 day EMA. Volume jumped back above average Tuesday as HAL jumped off the 18 day EMA (79.25), ready to continue its break higher. Strong mid-April breakout from its 11 week base that formed using the 50 day EMA (76.15) as support. It fell back in late April with the general energy selling, tapping at the 50 day EMA (76.15) on the low. It rebounded, worked laterally for a week over the 18 day and now looks ready to resume. Positive accumulation. Looks ready to go.
Volume: 7.291M Avg Volume: 7.324M
BUY POINT: $82.00 Volume=8.5M Target=$95.95 Stop=$79.00
POSITION: HAL JQ - Oct. $85c (51 delta) &/or Stock
http://www.investmenthouse.com/ct/hal.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ABX 04/29 Cup hdl 34.87 +0.90 33.22 39.45 7.5M 7.1M 33.55
Current.
AEIS 05/03 Cup hdl 16.71 -0.07 16.92 20.32 609K 800K 16.00
Current. Tapped 17.13 at the intraday high, but gave it back showing a tight doji on stronger above average volume. Testing the breakout. May continue to test back to 10 day MVA (16.15).
AGU 05/06 Asc Tri 28.01 +0.91 27.25 32.50 820K 750K 25.38
Buy Not Issued.
AL 04/22 Test BO 57.23 +1.18 53.39 62.90 2.7M 2M 55.55
Current.
AMT 04/19 DB hdl 34.99 -0.17 32.97 37.95 3M 3M 34.05
Current. Beginning to consolidate on low volume holding the gain
ANSS 04/10 PreAnn 57.11 +0.52 53.20 61.25 211K 325K 55.22
Current.
AUY 05/08 Asc Bse 12.20 +1.30 11.68 13.98 4.6M 2.5M 10.86
Entered today.
BLKB 04/29 Test 50 21.52 +0.68 21.43 25.65 1.1M 750K 20.94
Entered today. Gapped lower on earnings but then buyers thought better of it and moved in heavy.
CHRT 04/14 Test BO 11.27 +0.02 10.10 12.42 135K 225K 11.24
Current.
CTSH 04/26 Test BO 68.96 +0.15 64.11 73.95 865K 1.4M 66.38
Current.
CTXS 01/25 Test BO 44.41 -0.75 31.05 36.95 3.5M 3M 43.00
Current. Pullback on average volume. Still in uptrend.
CTXS 01/04 Test BO 44.41 -0.75 30.05 35.95 3.5M 2.2M 43.00
Current.
CYMI 04/25 Test BO 53.46 -0.69 52.65 62.00 766K 1.5M 53.00
Current. Pullback holding the 10 day MVA on low volume. Should be ready to bounce from here.
CYMI 04/03 Dbl btm 53.46 -0.69 48.12 57.45 766K 1.3M 52.95
Current.
DIA 04/27 Test 18 116.41 +0.59 114.52 117.55 3.9M 7.2M 114.55
Current. Continue to trend higher on low volume.
EGO 04/26 Cup hdl 5.45 +0.11 5.58 6.95 1.1M 1.8M 5.22
Current.
ENER 04/17 DB hdl 49.90 -0.26 51.63 61.00 815K 1.8M 50.85
Current. Pullback holding just below the 18 day MVA. May continue to consolidate.
GG 03/20 Asc Bse 40.41 +2.09 28.32 33.98 7.8M 5.6M 38.22
Current. Gapped up at the open for a great move on stronger above average volume.
GLG 04/12 Test BO 42.92 +2.09 36.59 43.72 2.4M 1.8M 40.00
Current. Gapped up at the open and continued to soar on above average volume making a 52 week high.
GLW 04/26 Test 18 27.98 +0.10 28.25 34.00 3.8M 12M 27.22
Buy Not Issued. Tested the 18 day MVA intraday and rallied back showing a doji on the 10 day MVA on low volume. Still in the pattern.
GRP 05/06 Test BO 53.50 +1.26 54.05 64.89 1.2M 3.4M 51.62
Buy Not Hit.
HLTH 05/01 Test BO 11.62 +0.02 11.98 14.38 2.4M 3.5M 11.22
Buy Not Issued. Beginning to consolidate on average volume.
ICE 05/05 Rv H&S 77.21 -1.64 73.05 87.85 1.3M 1.8M 76.00
Current.
INFA 04/01 DB hdl 15.68 -0.62 16.44 19.84 1.1M 3.4M 15.78
Current. Pullback holding the 10 day MVA on low volume. Should be ready to bounce from here.
ISIL 05/04 Asc Bse 30.19 -0.47 30.95 37.00 985K 3M 29.15
Buy Not Issued. Ease back tapping 29.85 at the intraday low and rallied back on low volume. Still in the pattern.
KONG 04/29 Cup hdl 13.89 -0.01 14.35 17.25 154K 442K 13.35
Buy Not Hit.
KYPH 05/08 Cup hdl 42.84 -0.36 44.15 52.95 363K 750K 42.00
Buy Not Hit.
MCHP 05/04 Cup hdl 36.50 -1.07 38.64 45.00 1.9M 2.4M 37.00
Buy Not Hit. Thudded down testing the simple 50 day MVA intraday and rallied back holding the 50 day MVA on stronger above average volume. Needs to hold the 50 day MVA.
MCHP 04/03 Cup 36.50 -1.07 37.56 43.95 1.9M 2M 37.00
Current.
MFLX 04/17 Test 50 59.47 -0.78 61.49 70.95 701K 550K 59.95
Current. Bombed after hours on record earnings but the guidance
was not up to expectations.
MGI 02/22 DB hdl 36.20 +0.30 28.69 33.98 1.3M 550K 35.25
Current. Continue to trend higher on very strong volume surge. Came off the day's high of 37.06.
NGPS 05/03 Asc Tri 39.64 +0.15 39.38 46.00 134K 200K 36.87
Current.
NTRI 04/14 DB hdl 68.59 +0.70 47.19 56.00 540K 1.5M 67.00
Current. Consolidating on low volume holding the gain
OIS 05/01 Cup hdl 42.95 +0.60 42.18 49.95 511K 1.2M 41.57
Current. Continue to move up the 10 day MVA on low volume.
PDS 05/08 Test BO 35.99 +0.09 36.75 44.00 479K 1.1M 35.00
Buy Not Hit. Meeting some resistance at 36. Still in the pattern.
PLLL 04/10 Cup 25.29 -0.27 21.55 25.88 172K 565K 24.00
Current. Ease back on low volume. Still in uptrend.
QCOM 03/08 Rv H&S 52.74 +0.08 50.91 59.95 7.6M 19M 51.38
Current. Moving up after testing the 50 day MVA on low volume.
QGEN 05/01 Cup 15.09 -0.19 15.22 18.32 603K 439K 14.55
Buy Not Issued. Gapped down showing a tight doji on 10 day MVA on very strong volume surge. Doji may indicate a change in pattern to the upside.
QUIK 04/27 Test 50 5.88 -0.07 6.26 7.55 252K 325K 5.85
Buy Not Hit. Pullback on rising, but average volume. Still in the pattern.
RADN 04/24 DB hdl 16.80 -0.61 16.80 20.15 297K 304K 16.12
Current.
RYI 04/24 Cup hdl 31.11 +1.28 31.25 37.55 874K 650K 29.12
Current. Bounced off the 10 day MVA for a nice move on lower, but strong volume.
SMSI 04/12 Test 18 13.61 -0.07 12.29 14.79 249K 400K 12.74
Current. Ease back on low volume. Still in uptrend.
SOX 05/03 Test 50 519.63 -5.74 526.00 550.00 0 0 523.00
Current. Pullback tapping 51.81 at the intraday low and rallied back holding the 10 day MVA. Should be ready to rebound from here.
SPIL 04/26 Rv H&S 7.12 -0.33 7.51 9.11 951K 2.2M 6.98
Buy Not Hit. Gapped down at the open and continued to move down holding the 18 day MVA on below average volume. Still in the pattern.
STTS 05/08 Test BO 8.43 +0.14 8.55 10.28 908K 1.4M 8.12
Buy Not Hit.
TEK 05/06 Flat 35.99 +0.09 36.88 44.00 397K 787K 35.32
Buy Not Hit.
TSM 05/06 Rv H&S 10.72 -0.44 11.37 13.65 14M 9M 10.65
Buy Not Issued. The stock has not made the move we were looking for so will drop.
VARI 05/06 Cup hdl 44.67 -0.41 44.68 52.95 154K 264K 42.72
Current.
WEBX 04/29 Test BO 34.84 -0.11 36.45 43.45 261K 850K 34.55
Current. Showing a doji on the 10 day MVA on low volume. Should be ready to bounce from here.
XLE 05/08 Test BO 58.99 +0.35 59.55 69.95 13M 30M 57.57
Buy Not Hit. Bounced off the 10 day MVA on low volume. Moving up after testing the 50 day MVA.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AMD 04/26 Put 34.16 +0.21 32.45 30.65 9.1M 18M 32.25
Exited.
ASH 05/01 Put 67.05 +1.45 64.55 62.55 799K 1.1M 66.04
Exited.
LM 05/03 Put 116.52 +0.37 114.57 110.00 1.7M 1.4M 116.32
Buy Not Hit. Bounced on low volume. Meeting some support at 115.
MHP 05/01 Put 53.82 -0.39 55.55 53.00 3M 2M 54.88
Continue to move down the 10 day MVA for a nice move on above average volume.
Good Investing!
Jon L. Johnson and your Technical Traders Report 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 recommendation
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