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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good movers: JOBS; LAB
Thursday night play results:
CTRN: Unable to hold the 18 day EMA
PX: The breakout attempt failed for now
WCN: Still hold the 18 day EMA
LAB: Diving lower on stronger volume.
New Plays:
Upside:
Play Date: 05/13/2006
CLHB (Clean Harbors--$35.63; +0.87; optionable): Environmental & hazardous waste management
http://biz.yahoo.com/p/c/clhb.html
STATUS: Double bottom w/handle. CLHB shot higher to start the month on earnings and an acquisition announcement (buying Teris). That took it over the 'hump' in the middle of its 26 week base formed using the 200 day SMA (29.87) on the lows as support. Nice lower volume fade the past week, coming back to the 10 day EMA (33.82) on the Friday intraday low and then a nice volume surge off that level to close the week. Very nice handle shaking out the quick profit takers from the surge. Solid 9 to 6 accumulation in the base (9 up price weeks on rising volume to 6 down price weeks on rising volume) shows net buying in the base, and that is setting up the breakout. Liked the action Friday in a weak market and ready to move in as it makes the breakout move.
Volume: 462.799K Avg Volume: 270.913K
BUY POINT: $36.42 Volume=406K Target=$43.95 Stop=$33.87
POSITION: QPB JG - Oct. $35c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/clhb.html
Play Date: 05/13/2006
CWTR (Coldwater Creek--$28.50; -0.87; optionable): Apparel stores, catalog sales. Forecast to announce a split 5-24-06.
BACKGROUND: A frequent splitter though probably early for the next split. Last split 3:2 on 12-12-05 at $33.50. Before that on 2-14-05 at $26.90. Like these as they build up shares for holding onto a good stock.
http://biz.yahoo.com/p/c/cwtr.html
After Hours: $28.50
STATUS: Test 50 day EMA. CWTR gapped higher in early March on strong earnings and rallied up the 18 day EMA (29.38) since. Last week it moved laterally in a tight range but the started to fade Thursday and again Friday. Volume remained below average, however, and Friday it reached down toward the 50 day EMA (27.29) intraday and rebounded to recoup some losses on the close. Looking for this periodic test of the move higher to rebound and give us a good buy point to start our new play on this perennial leader.
Volume: 933.619K Avg Volume: 1.207M
BUY POINT: $29.48 Volume=1.5M Target=$35.50 Stop=$27.50
POSITION: UCJ JF - Oct. $30c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/cwtr.html
Play Date: 05/13/2006
FLSH (M-Systems Flash Disk--$35.81; +0.06; optionable): Semiconductor flash storage
http://biz.yahoo.com/p/f/flsh.html
After Hours: $35.70
STATUS: Cup w/handle. FLSH used the selling last week to come back to the 10 day EMA (35.17) and form a handle to its 18 week base. Roughly used the 200 day SMA (29.69) as support for the lows, a sign of institutional support. Accumulation is a solid 6 to 3, showing plenty of buying. Nice set up, ready for a 5.5 year high.
Volume: 837.924K Avg Volume: 1.292M
BUY POINT: $36.57 Volume=1.9M Target=$43.95 Stop=$35.00
POSITION: FFU JG - Oct. $35c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/flsh.html
Play Date: 05/13/2006
HOC (Holly Corp.--$79.94; +0.33; optionable): Oil and gas refining. Splits 2:1 on 6-2-06
http://biz.yahoo.com/p/h/hoc.html
STATUS: Test 18 day EMA. Nice higher low at the 18 day EMA (79.03) last week as the market sold. Showing excellent relative strength versus the market and even many of the energy stocks. Strong run in March and April as HOC broke out. It peaked at 85 in April and then formed the current 5 week base, using the 50 day EMA (75.12) as support. Nice test of the breakout, setting up the next run higher.
Volume: 852.7K Avg Volume: 479.86K
BUY POINT: $82.35 Volume=720K Target=$98.50 Stop=$79.00
POSITION: HOC IQ - Sept. $85c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/hoc.html
Play Date: 05/13/2006
LMNX (Luminex--$16.42; -0.38; no options): Medical instruments (biological testing)
http://biz.yahoo.com/p/l/lmnx.html
After Hours: $16.47
STATUS: Breakout test. Explosive move higher in late April and early May on strong earnings. The move took LMNX out of a 13 week base formed using the 50 day EMA (14.77) as support, making higher lows along that level. Nice break higher, nice test back to the 10 day EMA (16.33) the past week as the market sold off. An excellent set up for a resumed break higher from this leader looking for a new 4 year high.
Volume: 325.877K Avg Volume: 169.092K
BUY POINT: $17.05 Volume=250K Target=$20.50 Stop=$16.21
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/lmnx.html
Play Date: 05/13/2006
PPDI (Pharmaceutical Product Dev.--$36.03; +1.06; optionable): Medial labs
http://biz.yahoo.com/p/p/ppdi.html
After Hours: $35.99
STATUS: Test 50 day EMA. PPDI spent the past 4 weeks easing back on lower volume to fill the gap higher from mid-April on strong earnings. It held near the 50 day EMA (34.85) and the lateral range from February and March. On Thursday and Friday when the market sold PPDI started higher on strong, above average volume. After filling the gap the buyers came right back in. Nice to see the strong upside volume in a weak market. Looking to move in this week as it clears the March high.
Volume: 1.235M Avg Volume: 615.949K
BUY POINT: $36.22 Volume=924K Target=$42.96 Stop=$34.68
POSITION: PJQ JT - Oct. $35c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/ppdi.html
Play Date: 05/13/2006
VSH (Vishay Intertechnology--$16.41; -0.42; optionable): Semiconductors and passive electronic components
http://biz.yahoo.com/p/v/vsh.html
STATUS: Test breakout. VSH used last week's late selling to test its early May breakout from a nicely formed 13 week reverse head and shoulders base. Strong volume on the break higher as earnings came in strong. Volume got a bit out of hand Friday as VSH fell further back, but held the 18 day EMA (16.37) on the close. Outstanding 5 to 1 accumulation shows heavy buying during the base. After this test it will be ready to continue the break higher.
Volume: 3.487M Avg Volume: 1.477M
BUY POINT: $16.81 Volume=2.2M Target=$20.31 Stop=$16.12
POSITION: VSH JC - Oct. $15c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/vsh.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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us stock market
stock split
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