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Begin part 3 of 3
THE PLAYS
Good movers: WEBX; CHRW; LAB
Wednesday night play results:
CYMI: Sold back down through the 50 day EMA. Has to hold here.
FSL: Still holding the 50 day EMA on lower volume.
LRCX: Tried to make the bounce but someone forgot to tell the volume and the moved fizzled.
MORN: Rallied but could not hold the move this session. Still looks solid.
FLSH: Good bounce off the 18 day EMA. Just needs more trade as it continues higher
New Plays:
Upside:
Play Date: 05/18/2006
AKAM (Akami Technologies--$32.56; +0.53; optionable): Internet delivery services for content, business processes, etc.
http://biz.yahoo.com/p/a/akam.html
After Hours: $32.56
STATUS: Test 50 day EMA. AKAM has tested back to the 50 day EMA (31.58) for the first time since February. This test follows a nice run up the 18 day EMA (33.59) from February. A strong breakout will rally up the 18 day EMA and then after 4 or 5 rotations it will come back to test the 50 day EMA and start the move again. AKAM fell in the market selling, making one of its periodic tests, this time down at the 50 day EMA. Volume jumped Thursday as AKAM started the move off the 50 day. Strong money flow is leading higher. Ready to move in as AKMA continues the move off this support on continued solid trade.
Volume: 5.084M Avg Volume: 3.142M
BUY POINT: $33.04 Volume=3.2M Target=$39.75 Stop=$31.31
POSITION: UMU HF - Aug. $30c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/akam.html
Play Date: 05/18/2006
AMX (America Movil--$36.16; -0.24; optionable): Wireless telecom services in Latin America
http://biz.yahoo.com/p/a/amx.html
STATUS: Test 50 day EMA. AMX made us some money on its last run, and now it is setting up another buy point. It broke out from a 15 week flat trading range in late April and rallied to 41.25 on the move. After that run the market selling started and AMX sold back, testing that breakout and run. It has fully tested the move, coming back to the 50 day EMA (36.09) and the top of the base at the same level. Nice pattern that used the 50 day EMA as support as it formed. After this test we are looking for AMX to rebound on volume.
Volume: 4.43M Avg Volume: 3.568M
BUY POINT: $36.88 Volume=5M Target=$44.00 Stop=$35.44
POSITION: AMX HG - Aug. $35c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/amx.html
Play Date: 05/18/2006
VARI (Varian--$42.20; +0.01; optionable): Scientific instruments and vacuum products
http://biz.yahoo.com/p/v/vari.html
After Hours: $42.21
STATUS: Test 50 day EMA. A common pattern, with many good stocks coming back to test this support level. The stronger hold and move back up. VARI blasted higher in late April and again in early May, moving out from a 20 week cup with handle base. In the market selling it made a very orderly pullback on lower volume. Wednesday it reached all the way down to the 50 day (41.60) and then rebounded off the lows. Tried the move Thursday but the market was not ready for it. Solid pattern that formed on top of the 200 day SMA (39.09). Looking to move in as it continues the bounce.
Volume: 162.013K Avg Volume: 183.227K
BUY POINT: $43.31 Volume=275K Target=$49.95 Stop=$41.44
POSITION: IUA HH - Aug. $40c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/vari.html
New buy point on a current play:
Play Date: 05/18/2006
GRMN (Garmin Ltd.--$86.50; -1.30; optionable): GPS devices. Splits 2:1 on a date to be set.
http://biz.yahoo.com/p/g/grmn.html
After Hours: $86.51
STATUS: Test 50 day EMA. Okay. After the Wednesday plunge GRMN fell some more Thursday, but it tapped the 50 day EMA (85.28) on the low and rebounded to recoup some of the losses. In doing so it has fully filled the early May gap higher on its strong earnings and split announcement. Volume remained above average Thursday as it made the test. Looking for some more solid trade as GRMN rebounds from this test.
Volume: 1.293M Avg Volume: 1.241M
BUY POINT: $88.05 Volume=1.4M Target=$101.35 Stop=$85.00
POSITION: gqr jq - Oct. $85c (58 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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