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us stock market, trade stock
Begin part 3 of 3
We apologize for the late delivery this evening. Our software did not want to load properly this evening, yet we kept working on it. Yet.
THE PLAYS
Good movers: JOBS
Wednesday night play results:
CELG: Still ready to move higher, ignoring the market selling.
LMIA: Gapped higher and continued its breakout
RMIX: Testing its strong Wednesday move, giving us a better entry point.
TQNT: Disappointing turn lower that crashed through the 18 day EMA.
New Plays:
Upside:
Play Date: 05/12/2006
CDNS (Cadence Design Systems--$19.10; -0.27; optionable): Electronic design automation services
http://biz.yahoo.com/p/c/cdns.html
STATUS: Breakout test. CDNS broke higher to end April, moving on strong volume out of its 17 week cup with handle that formed along the 50 day EMA (18.43). Positive accumulation in the base shows net buyers, setting up the breakout. Nice lateral test the past week, ignoring the market selling Thursday, closing on the 10 day EMA (19.10). Strong money flow is leading higher. Looking for a rebound off of this test to give us a solid entry after its first breakout test. Sold fundamentals.
Volume: 3.132M Avg Volume: 18.65M
BUY POINT: $19.55 Volume=2.1M Target=$23.50 Stop=$18.69
POSITION: CDN HW - Aug. $17.50c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/cdns.html
Play Date: 05/11/2006
GES (Guess? Inc.--$44.38; -0.72; optionable): Apparel
http://biz.yahoo.com/p/g/ges.html
After Hours: $44.39
STATUS: Cup w/handle. Forming a nice handle the past week, easing back to the 10 day EMA (44.27) on lower volume. Very nice 12 week base has formed on the 50 day EMA (41.16) as GES sets up for a new all-time high. Sweet base sporting strong 4 to 2 accumulation (4 up price weeks on rising volume to 2 down price weeks on rising volume). Great fundamentals to go with the base. After this shakeout it is ready for a breakout move.
Volume: 474.2K Avg Volume: 654.674K
BUY POINT: $46.05 Volume=982K Target=$53.95 Stop=$44.05
POSITION: GES II - Sept. $45c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/ges.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/cd/px.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
CELG: Nice pattern still forming in the midst of many diving stocks.
GME: A rather ugly development as GME dives through the 50 day EMA.
PSYS: Heading to the 200 day SMA but this may provide a trade opportunity as it has bounced up and down between 30ish and 34ish.
Submarine diving: BRCM, COH, FFIV, MRVL, UNH
NVDA: Sold some calls as NVDA tried to move higher but started to falter. Sold off in the regular session and was down originally after hours, then recovered late in the late session.
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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