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us stock market, stock recommendation
Begin part 2 of 2
We apologize for the delay tonight. Our software would not load properly, yet we eventually got it to work. Yet.
THE PLAYS
Good movers: AL
NEW PLAYS:
Downside:
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/ct/lab.html
CONTINUING PLAYS
Upside:
Play Date: 05/10/2006
HCR (Manor Care--$45.23; +0.05; optionable): Long-term care
http://biz.yahoo.com/p/h/hcr.html
STATUS: Test breakout. Strong volume Thursday as HCR broke higher but with the market selling it could not hold the move. Still looks super, holding up well and setting pu for that new all-time high. To recap: HCR broke from a short 5 week base last week, rising off the 50 day EMA (43.23) on strong volume. It faded the past three sessions, testing the move but holding most of the gain. Positive 3 to 2 accumulation as HCR made higher lows up the 50 day while it set up for the breakout to a new all-time high.
Volume: 1.449M Avg Volume: 649.084K
BUY POINT: $45.65 Volume=750K Target=$52.50 Stop=$44.21
POSITION: HCR HI - Aug. $45c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/hcr.html
Play Date: 05/08/2006
PDS (Precision Drilling--$36.06; -0.01; optionable): Oil and gas drilling & equipment
http://biz.yahoo.com/p/p/pds.html
STATUS: Test breakout. Held up well Thursday, rallying early but then fading as the market sold broadly in the afternoon. Still in its nice tight lateral range, ready for the breakout. To recap: Nice breakout in mid-April sent PDS to a new high at 38. It came back to test the move the past week, moving in a lateral range over the 10 day EMA on low, below average volume. Nice, orderly test, preparing PDS for the continued move higher. Love the first tests of breakouts; a strong stock often moves well after this initial shakeout of the early profit takers.
Volume: 485.4K Avg Volume: 707.402K
BUY POINT: $36.75 Volume=1.1M Target=$44.00 Stop=$35.00
POSITION: PDS LG - Sept. $35c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/pds.html
CONTINUING PLAY TABLE:
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http://www.technicaltraders.com/ttr/table.php
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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 34.47 -0.76 33.22 39.45 6.8M 7.1M 33.55
Current.
AEIS 05/03 Cup hdl 15.45 -0.57 16.92 20.32 380K 800K 16.00
Current. Continue to pullback on low volume testing the breakout. Looking for stock to rebound at 15.19.
AL 04/22 Test BO 58.02 +1.07 53.39 62.90 4.5M 2M 55.55
Current.
AMT 04/19 DB hdl 34.76 -0.36 32.97 37.95 2.9M 3M 34.05
Current. Pullback holding the 10 day MVA on lower below average volume. Should hold here.
ANSS 04/10 PreAnn 55.61 -1.23 53.20 61.25 268K 325K 55.22
Current.
AQNT 05/10 Rv H&S 26.75 -1.15 28.15 33.85 1.3M 1.8M 26.18
Buy Not Hit. Pullback on lower below average volume. Still in the pattern.
AUY 05/08 Asc Bse 11.74 -0.49 11.68 13.98 2M 2.5M 10.86
Current.
BLKB 04/29 Test 50 20.10 -1.51 21.43 25.65 460K 750K 20.94
Exited.
CHRT 04/14 Test BO 11.10 -0.17 10.10 12.42 399K 225K 11.24
Current.
CTSH 04/26 Test BO 68.35 -0.24 64.11 73.95 1.6M 1.4M 66.38
Current.
CTXS 01/25 Test BO 41.16 -2.34 31.05 36.95 4.4M 3M 43.00
Trailing Stop.
CTXS 01/04 Test BO 41.16 -2.34 30.05 35.95 4.4M 2.2M 43.00
Trailing Stop.
CYMI 04/03 Dbl btm 50.31 -2.11 48.12 57.45 895K 1.3M 52.95
Trailing Stop.
DIA 04/27 Test 18 115.19 -1.37 114.52 117.55 9.6M 7.2M 114.87
Current. Reversed on stronger above managing to hold the 10 day MVA. May continue to test back to the 18 day MVA (114.33)
EGO 04/26 Cup hdl 5.50 -0.07 5.58 6.95 2.2M 1.8M 5.22
Current.
ENER 04/17 DB hdl 51.86 -3.64 51.63 61.00 2M 1.8M 53.95
Current. Pullback holding just above the 10 day MVA on lower, but strong volume. Testing yesterday's breakout move. May test back to 18 day MVA (50.64)
GG 03/20 Asc Bse 39.47 -1.20 28.32 33.98 9.5M 5.6M 38.22
Current. Gapped up at the open, but gave it back on stronger above average volume. Pullback after such a nice run. May continue to pullback to 10 day MVA(38)
GLG 04/12 Test BO 40.76 -2.20 36.59 43.72 2.5M 1.8M 40.57
Target Hit. Took some of the gain as stock hit interim target on stronger above average volume.
GOOG 05/09 Test 50 387.00 -15.98 411.35 450.00 8.9M 13M 404.00
Buy Not Issued. The stock has not performed so will drop.
GRP 05/06 Test BO 53.53 -0.97 54.05 64.89 2.2M 3.4M 51.62
Buy Not Issued. Gapped up at the open, but gave it back on slightly above average volume. Moving up after testing the 18 day MVA. Meeting some resistance at 54
HAL 05/09 PreSplt 80.06 -2.17 82.12 95.95 6.5M 8.5M 79.38
Current.
HCR 05/10 Test BO 45.23 +0.05 45.65 52.50 1.4M 750K 44.21
Buy Not Issued. Tapped 45.89 at the intraday high, but gave much of it back on very strong volume surge. Did not enter because stock spent session coming off the day's high. Still in the pattern.
HLTH 05/01 Test BO 11.85 -0.08 11.98 14.38 2.9M 3.5M 11.22
Buy Not Issued.
ICE 05/05 Rv H&S 79.17 +1.36 73.05 87.85 1.2M 1.8M 76.00
Current.
KONG 04/29 Cup hdl 14.05 +0.02 14.35 17.25 154K 442K 13.35
Buy Not Hit.
KYPH 05/08 Cup hdl 41.43 -1.19 44.15 52.95 504K 750K 42.00
Buy Not Hit. The stock has not made the move we were looking for so will drop.
MCHP 05/04 Cup hdl 34.95 -1.07 38.64 45.00 2.6M 2.4M 37.00
Buy Not Hit. The stock has not made the move we were looking for so will drop.
MCHP 04/03 Cup 34.95 -1.07 37.56 43.95 2.6M 2M 37.00
Exited.
MGI 02/22 DB hdl 34.66 -1.24 28.69 33.98 450K 550K 35.25
Current. Pullback on below average volume. May continue to test back to 18 day MVA (34.30)
NGPS 05/03 Asc Tri 36.91 -2.26 39.38 46.00 258K 200K 36.87
Current.
NTRI 04/14 DB hdl 70.00 -4.86 47.19 56.00 2.4M 1.5M 71.00
Current. Pullback on strong volume holding at support. May continue to test back to 10 day MVA (68.59)
OIS 05/01 Cup hdl 42.05 -0.40 42.18 49.95 704K 1.2M 41.57
Current. Pullback on average volume holding the 10 day MVA. Should bounce from here.
PDS 05/08 Test BO 36.06 -0.01 36.75 44.00 485K 1.1M 35.00
Buy Not Issued. Making a lateral move just above the 10 day MVA on rising, but below average volume. Need to see a clear and decisive move on strong volume.
PLLL 04/10 Cup 25.50 +0.42 21.55 25.88 774K 565K 24.00
Target Hit. Volatile session Took some of the money off the table as stock hit the target intraday
QCOM 03/08 Rv H&S 49.40 -2.26 50.91 59.95 20M 19M 51.38
Exited.
QGEN 05/01 Cup 14.80 -0.24 15.22 18.32 273K 439K 14.55
Buy Not Issued.
RADN 04/24 DB hdl 15.83 -0.76 16.80 20.15 259K 304K 16.12
Current.
RMIX 05/10 Asc Bse 15.03 -0.46 15.62 18.75 510K 375K 14.53
Buy Not Hit. Pullback on slightly above average volume. Still in the pattern.
RYI 04/24 Cup hdl 30.12 -1.11 31.25 37.55 803K 650K 29.12
Current. Volatile session tapping 31.89 at the intraday high, but gave it back testing the 18 day MVA (29.70) intraday on stronger above average volume. Managed to hold the 10 day MVA. Looking for stock to rebound off support at 29.83
SMSI 04/12 Test 18 12.18 -1.36 12.29 14.79 686K 400K 12.74
Exited.
SOX 05/03 Test 50 495.50 -11.55 526.00 550.00 0 0 523.00
Current. Getting way oversold as it comes to the 200 day EMA
& the March lows. Anticipating a rebound from here
& looking at some June 495c (SXX FS) as it rebounds.
STTS 05/08 Test BO 8.15 -0.19 8.55 10.28 597K 1.4M 8.12
Buy Not Hit.
TEK 05/06 Flat 34.56 -0.87 36.88 44.00 558K 787K 35.32
Buy Not Hit. The stock has not made the move we were looking for so will drop, but will keep an eye on it.
VARI 05/06 Cup hdl 43.66 -0.60 44.68 52.95 192K 264K 42.72
Current.
WEBX 04/29 Test BO 34.16 -0.38 36.45 43.45 501K 850K 34.55
Current. Continue to pullback holding just under the 18 day MVA on rising, but average volume. Should hold at 34.
XLE 05/08 Test BO 58.73 -0.77 59.55 69.95 22M 30M 57.57
Buy Not Issued. Gapped up at the open, but gave it back holding the 10 day MVA on average volume. Did not enter the play because stock spent session coming off the day's high.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
CPO 05/10 Put 27.25 -0.21 27.32 25.38 704K 550K 28.25
Buy Not Issued.
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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