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us stock market, trading system
Begin part 2 of 2
THE PLAYS
Good movers: WEBX; CPO; CHRW; LAB
NEW PLAYS:
Upside plays:
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/ct/amx.html
New buy point on current position:
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/ct/vari.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
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http://www.technicaltraders.com/ttr/table.php
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ABX 04/29 Cup hdl 30.54 -0.38 33.22 39.45 5.9M 7.1M 33.55
Current. Pullback managing to hold the 50 day MVA on lower, but strong volume. Looking for a bounce from here.
AEIS 05/03 Cup hdl 14.55 +0.09 16.92 20.32 408K 800K 16.00
Current. Tapped 15.12 (10 day MVA) at the intraday high, but gave much of it back showing a tight doji on lower below average volume. Holding at support below the 50 day MVA. Tested the breakout.
AGU 05/13 Test BO 25.91 -0.42 27.38 32.75 697K 750K 26.31
Buy Not Hit.
AL 04/22 Test BO 49.66 -0.34 53.39 62.90 3.3M 2M 55.55
Current.
AQNT 05/10 Rv H&S 26.74 +0.49 28.15 33.85 1.3M 1.8M 26.18
Buy Not Hit. Moving up on below average volume after testing the 50 day MVA. Still in the pattern.
CC 05/15 Test 18 28.79 -0.66 30.11 35.95 3.9M 2.8M 28.45
Current.
CHRT 04/14 Test BO 9.92 -0.38 10.10 12.42 486K 225K 11.24
Exited.
COHR 05/17 Test 50 34.12 -0.43 35.42 41.00 131K 435K 33.95
Buy Not Hit.
CTSH 04/26 Test BO 63.96 -0.33 64.11 73.95 1.5M 1.4M 66.38
Current.
CYMI 05/17 Test 50 47.75 -0.98 50.11 60.00 1.3M 1.4M 48.44
Buy Not Hit. Tested the 10 day MVA (50.20) at the intraday high, but gave it back holding at some support below the simple 50 day MVA on stronger above average volume. Still in the pattern.
EGO 04/26 Cup hdl 4.60 -0.07 5.58 6.95 1.2M 1.8M 5.22
Current. Gapped higher but sold back. Filled the gap from late
March & rebounded some from there. Now it has to show
us the move.
EQIX 05/15 Cup hdl 59.67 -2.23 63.74 76.00 272K 650K 61.65
Buy Not Hit. Ease back testing the 50 day MVA intraday and rallied back on low volume. Needs to hold the 50 day MVA or will drop.
FLSH 05/13 Cup hdl 35.78 +1.07 36.57 43.95 853K 1.9M 35.00
Buy Not Hit. Moving up for a nice gain on below average volume after testing the breakout. Still forming the handle.
FVE 05/17 DB hdl 10.95 -0.05 11.15 13.65 443K 559K 10.37
Entered today.
GG 03/20 Asc Bse 30.71 -1.17 28.32 33.98 13M 5.6M 38.22
Current. Continue to pullback below the simple 50 day MVA on lower, but strong volume. Meeting support at 30. Should hold here.
GISX 05/17 Test BO 39.35 -0.19 40.11 47.95 95K 150K 38.72
Buy Not Hit.
GLG 04/12 Test BO 33.23 -0.44 36.59 43.72 2.7M 1.8M 40.57
Current. Continue to pullback below the simple 50 day MVA on lower, but strong volume. Needs to hold at support at 32
HAL 05/09 PreSplt 71.08 -2.68 82.12 95.95 10M 8.5M 79.38
Exited.
HCR 05/10 Test BO 45.68 -0.22 46.77 53.40 926K 750K 45.15
Current. Ease back testing the 10 day MVA intraday on average volume. Should be ready to bounce off 45.50 (10 day MVA)
HLTH 05/01 Test BO 11.79 +0.10 11.98 14.38 1.8M 3.5M 11.22
Buy Not Issued. Bounced off the 18 day MVA on low volume. Need to see a clear and decisive move as stock break through some new resistance at 12
ICE 05/05 Rv H&S 67.94 -2.06 73.05 87.85 1.6M 1.8M 76.00
Current.
KONG 04/29 Cup hdl 13.49 -0.41 14.35 17.25 1.7M 442K 13.35
Buy Not Issued. Wild ride on earnings, gapping sharply higher then
a massive reversal down to the 50 day EMA. No good
move going unsold.
LMNX 05/13 Test BO 14.54 -0.58 15.95 20.00 233K 250K 14.83
Buy Not Hit. The stock has not made the move we were looking for so will drop, but will keep our eye on it.
LRCX 05/16 Test 50 46.64 -0.81 48.57 58.65 2.2M 4M 46.55
Buy Not Hit. Tested the 10 day MVA intraday (48.78) but gave it all back managing to hold the 50 day MVA on low volume. Should hold here.
MGI 02/22 DB hdl 33.88 +0.03 28.69 33.98 575K 550K 35.25
Current. Beginning to consolidate just below the 18 day MVA on average volume.
NTRI 04/14 DB hdl 68.38 -0.90 47.19 56.00 1.8M 1.5M 71.00
Current. Pullback holding the 10 day MVA on above average volume. Moving up after testing the 18 day MVA.
OII 05/16 Test BO 69.39 +0.93 70.55 82.00 1.2M 600K 67.00
Buy Not Issued. Gapped up at the open tapping 72.03 at the intraday high, but gave it back holding the 10 day MVA on very strong volume surge. Did not enter the play because stock spent the session coming off the day's high. Need to see a clear and decisive move.
OIS 05/01 Cup hdl 35.87 -1.94 42.18 49.95 717K 1.2M 41.57
Exited.
PFWD 05/17 Test 50 12.70 +0.18 12.75 15.50 284K 300K 12.04
Buy Not Issued.
PLLL 04/10 Cup 22.14 -1.21 21.55 25.88 408K 565K 24.00
Current. Fell back holding above the 50 day MVA on low volume. Trying to break through the 18 day MVA (23.50)
PMTI 05/15 Test BO 41.75 -0.29 42.32 55.00 221K 431K 40.62
Current. Pullback holding just below the 10 day MVA on below average volume. Moving up after testing the 18 day MVA.
PRFT 05/13 Asc Bse 12.32 +0.28 12.71 15.30 234K 282K 12.00
Buy Not Issued.
RADN 04/24 DB hdl 15.03 -0.19 16.80 20.15 145K 304K 16.12
Current.
RTN 05/15 Asc Bse 45.74 +0.02 47.55 54.95 1.8M 2M 45.89
Buy Not Hit.
RYI 04/24 Cup hdl 26.42 -0.61 31.25 37.55 529K 650K 29.12
Exited.
SOX 05/03 Test 50 474.41 -4.27 526.00 550.00 0 0 523.00
Current. Continue to move down. Stock should be giving us a relief bounce for a minimum a better exit point.
VARI 05/06 Cup hdl 42.20 +0.01 44.68 52.95 162K 264K 42.72
Current.
WEBX 04/29 Test BO 34.31 +1.31 36.45 43.45 956K 850K 34.55
Current. Moving up for a nice gain on stronger above average volume after testing the 50 day MVA. Came off the day's high of 35.12
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
CHRW 05/13 Put 44.57 -1.13 46.26 44.00 993K 1.2M 44.95
Current. Another nice move down the 10 day MVA on low volume.
CPO 05/10 Put 25.91 -0.27 26.95 25.00 319K 550K 25.88
LAB 05/11 Put 12.33 -0.56 13.63 12.12 1M 750K 12.57
Current. Nice move down the 10 day MVA on stronger above average volume.
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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