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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers: JOBS
Wednesday night play results:
AQNT: Lower volume pullback, still in good shape
CELG: Still working on the nice cup with handle.
HCR: Tried the breakout on strong volume but faded. Still quite nice.
RMIX: Faded back on low volume after the Wednesday move.
New Plays:
Upside:
Play Date: 05/11/2006
CTRN (Citi Trends--$51.05; -0.49; no options): Apparel stores
http://biz.yahoo.com/p/c/ctrn.html
After Hours: $50.95
STATUS: Breakout test. A new issue in May 2005. Broke out from a 12 week cup with handle base to start May, surging on strong volume to a new high. Excellent pattern and excellent fundamentals. Strong money flow is moving higher. Nice test to the 18 day EMA (50.90) is holding the breakout. Looking for a bounce on another shot of strong volume.
Volume: 124.835K Avg Volume: 230.205K
BUY POINT: $52.52 Volume=300K Target=$62.95 Stop=$50.72
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ctrn.html
Play Date: 05/11/2006
PX (Praxair--$57.10; +1.10; optionable): Industrial gases
http://biz.yahoo.com/p/p/px.html
STATUS: Cup w/handle. Strong volume the past two sessions as buyers moved into PX Wednesday and then again Thursday, pushing to start the breakout from its 8 week base. Nice pattern that formed over the 50 day EMA (55.21), setting PX up for a new all-time high. Ready to move in as PX continues its breakout move.
Volume: 2.751M Avg Volume: 1.278M
BUY POINT: $57.31 Volume=1.4M Target=$65.95 Stop=$55.71
POSITION: PX JK - Oct. $55c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/px.html
Play Date: 05/11/2006
WCN (Waste Connections--$39.73; -0.31; optionable): Waste management
http://biz.yahoo.com/p/w/wcn.html
STATUS: Double bottom w/handle. Short but nice pattern over the 50 day EMA (38.65) is consolidating the breakout move form a big 9 month base in March. Forming the handle to the base, coming back to tap the 18 day EMA (39.34) on the low and rebounding to cut the losses. Money flow is running higher ahead of price. Just want to see the volume run higher as WCN moves to a new all-time high.
Volume: 369K Avg Volume: 529.284K
BUY POINT: $40.22 Volume=600K Target=$46.95 Stop=$39.00
POSITION: WCN JH - Oct. $40c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/wcn.html
Downside Plays:
Play Date: 05/11/2006
LAB (Labranch & Co.--$13.90; -0.70; optionable): Investment brokerage
http://biz.yahoo.com/p/l/lab.html
STATUS: Put. Tremendous rally to start the year up to late April. Then the shift out of brokers and LAB gapped lower. It breached the 50 day EMA (14.77) to end the month and then rebounded in May, bumping for a whole week at that level. Thursday it turned lower on rising volume. Heading lower. A move to the target lands us a 41%ish gain.
Volume: 655.2K Avg Volume: 730.316K
BUY POINT: $13.81 Volume=750K Target=$12.35 Stop=$14.31
POSITION: LAB RC - June $15p (-50 delta)
http://www.investmenthouse.com/ci/lab.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 recommendation
stock option
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