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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: DJO; HCR; JOBS; NTRI; PMTI; RMD; SBUX
Monday night play results:
EQIX: Nice hold at the 18 day EMA, still setting up the breakout.
ICON: Gapped higher but no volume and could not hold the move
ODFL: Sold through the 18 day EMA on rising trade
PMTI: Nice break higher off the 18 day EMA.
SHOO: Still a nice test of the 18 day EMA
New Plays:
Upside:
Play Date: 05/16/2006
LIFC (Lifecell--$28.19; +0.16; optionable): Biotechnology
http://biz.yahoo.com/p/l/lifc.html
STATUS: Breakout test. LIFC gapped higher in late April, gapping out of its 8 month ascending base formed along the 50 day EMA (24.51). It surged over 30 and then used the selling the past week to come back and test the 18 day EMA (27.00) on the lows, rebounding to close. Good shakeout action and holding its gains quite nicely. Excellent 10 to 4 accumulation in the base shows plenty of buying. Money flow is strong as well. Relative strength made the breakout with the stock last week, a good sign of LIFC's strength in the weaker market. Looking for volume to kick up as LIFC resumes its move higher.
Volume: 506.94K Avg Volume: 737.102K
BUY POINT: $28.94 Volume=1M Target=$34.95 Stop=$26.91
POSITION: QKL IY - Sept. $27.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/lifc.html
Play Date: 05/16/2006
OII (Oceaneering Intl.--$69.27; +0.94; optionable): Oil & gas drilling. Splits 2:1 on 6-19-06
http://biz.yahoo.com/p/o/oii.html
STATUS: Breakout test. Big gap higher in early May as OII blasted out of a 13 week base on tremendous volume. The move took OII to a new high but the selling did not leave it untouched. It also did not break it down. Instead, OII sold back, closing much of the gap up as it tapped the 18 day EMA (67.15) on the lows Monday and Tuesday, bouncing back to close. Nice test, holding the breakout unlike many stocks. Looking for continued solid trade as it moves through the buy point.
Volume: 639.3K Avg Volume: 373.085K
BUY POINT: $70.55 Volume=600K Target=$82.00 Stop=$67.00
POSITION: OII JN - Oct. $70c (57 delta) or OII GN - July $70c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/oii.html
Play Date: 05/16/2006
RTK (Rentech--$4.85; +0.35; optionable): Coal gasification
http://biz.yahoo.com/p/r/rtk.html
After Hours: $4.85
STATUS: Double bottom w/handle. Volume spiked up the past two sessions as RTK toyed with and then started the breakout Tuesday. Nice run in Q4 2004 and then fell into the current 17 week base sporting solid 4 to 2 accumulation. Strong money flow as well, surging higher ahead of price. Looking to move in as RTK continues higher and through the buy point.
Volume: 2.846M Avg Volume: 1.067M
BUY POINT: $5.04 Volume=1.5M Target=$8.00 Stop=$4.69
POSITION: RTK IA - Sept. $5c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/rtk.html
New buy point on a current play:
Play Date: 05/16/2006
GRMN (Garmin Ltd.--$93.27; +1.06; optionable): GPS devices. Splits 2:1 on December 15 if you can believe that.
http://biz.yahoo.com/p/g/grmn.html
After Hours: $92.99
STATUS: Test 18 day EMA. GRMN broke out in early March, moving out of a 5 month base formed along the 50 day EMA (85.13). Gapped higher early in the month on the stock split announcement and now has come back to test the move, filling the gap Monday on the intraday low. It rebounded to hold the 18 day EMA (92.05). Like the fill of the gap and the strong rebound; it shows buyers jumping back in as soon as it dipped. Ready to pick up more shares as GRMN continues higher on a jump in volume.
Volume: 630.82K Avg Volume: 1.229M
BUY POINT: $94.85 Volume=1.4M Target=$110.00 Stop=$91.89
POSITION: GQR JS - Oct. $95c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/grmn.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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trade stock
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