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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: JOBS; TWGP
Weekend play results:
CLHB: Still setting up for the breakout.
IFO: Gapped higher but could not hold the move.
MSSR: Still testing on low volume.
VSH: Nice doji setting up for the next move.
New Plays:
Upside:
Play Date: 05/15/2006
ICON (Iconix Brand Group--$16.80; +0.92; optionable): Footwear
http://biz.yahoo.com/p/i/icon.html
STATUS: Test 50 day EMA. Making another test of the 50 day EMA (15.61) in its continuing uptrend, using the market selling last week to test this support level, fading back on low, below average volume. Friday volume jumped as ICON held the 50 day and bounced. Monday volume was up again as it bounced off the 50 day, scoring a nice gain on the session. Looking to move in as it continues the bounce and follow the money flow.
Volume: 547.796K Avg Volume: 499.437K
BUY POINT: $17.05 Volume=550K Target=$20.50 Stop=$15.86
POSITION: QIA HC - Aug. $15c (68 delta) &/or Stock
http://www.investmenthouse.com/cd/icon.html
Play Date: 05/15/2006
ODFL (Old Dominion Freight Line--$31.72; -0.26; no options): Trucking
http://biz.yahoo.com/p/o/odfl.html
STATUS: Test breakout. Strong breakout in mid-April from a 15 week flat base sporting strong 7 to 3 accumulation sent ODFL to 34.50 on the breakout run. Used the selling last week to test, coming back to the 18 day EMA on mostly lower volume, showing a big doji with tail Monday on even lower trade. Nice breakout, nice test, now ready to resume the move. higher. Strong money flow is leading the way higher. Looking for a rebound on volume to move in.
Volume: 169.91K Avg Volume: 274.098K
BUY POINT: $32.55 Volume=350K Target=$39.00 Stop=$31.57
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/odfl.html
Play Date: 05/15/2006
TQNT (Triquent Semiconductor--$5.96; +0.86; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/t/tqnt.html
STATUS: Test 50 day EMA. Was in a dive Friday, but nothing like an improved outlook to send a stock higher. TQNT was set to move, but it just needed a catalyst. It got that with its announcement of an improved outlook. May come back a bit early on after a strong high volume move, but if not we will take some now and then some on that first test. Made it through a late April rough patch where it tested a gap higher. Got caught in the selling last week but held the 50 day EMA (5.16) again and rebounded. This move continues its breakout from its 18 week base formed bracketing the 50 day EMA. Solid 4 to 2 accumulation is complemented by strong money flow.
Volume: 6.018M Avg Volume: 1.684M
BUY POINT: $6.05 Volume=2M Target=$7.32 Stop=$5.63
POSITION: TQN HA - Aug. $5c (74 delta) &/or Stock
http://www.investmenthouse.com/cd/tqnt.html
New buy point on current picture:
Play Date: 05/15/2006
TWGP (Tower Group--$28.01; +0.86; optionable): Property & Casualty Insurance
http://biz.yahoo.com/p/t/twgp.html
STATUS: Test 18 day EMA. TWGP is making the second test of its early April breakout from a 13 week cup with handle base. Love the way it used the selling to make the test of the 18 day EMA (27.15), using the market downdraft to set up the next run higher. Great breakout from a strong leader. It will make 4 to 5 bounces up the 18 day EMA after the breakout, and that leaves us plenty more upside.
Volume: 308.277K Avg Volume: 276.294K
BUY POINT: $28.28 Volume=414K Target=$33.95 Stop=$27.00
POSITION: PTQ JE - Oct. $25c (71 delta) &/or Stock
http://www.investmenthouse.com/cd/twgp.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
This market correction is exposing (or exploiting) weaknesses in stocks, portfolio members included. Need some input as to stocks you want to see to replace BRCM, COH, FFIV, PSYS, UNH
AAPL: Still waiting . . .
BRCM: Second doji at the 200 day SMA. Due for a bounce after that butt kicking, but for now that is about all.
CELG: Nice doji at the 50 day EMA.
MRVL: Fell through the 200 day SMA on high volume.
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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us stock market
stock recommendation
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