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world stock market, us stock market
Beign part 3 of 3
THE PLAYS
Good movers: ANN; GRMN; NTRI; WEBM CHRW LAB
Thursday night play results:
AKAM: Nice volume as it continued its move off the 50 day EMA
AMX: Reached below the 50 day EMA and a furious rebound has set up the bounce.
VARI: Starting the move, just needs a bit more volume
GRMN: Starting back up off the 50 day EMA on very solid trade.
New Plays:
Upside:
Play Date: 05/20/2006
CTXS (Citrix Systems--$39.95; 0.00; optionable): On demand information access software, etc.
http://biz.yahoo.com/p/c/ctxs.html
After Hours: $40.54
STATUS: Test 50 day EMA CTXS made us some great coin this year, after the strong run up through early May it needed a breather. The market selling came along and pushed it back to the 50 day EMA (38.62). We said we were going to let it make the test and then move back in. It looks to have done that, undercutting the 50 day EMA intraday on Friday and then rebounding for a positive close on the best volume in a month. A strong market leader this one, and we are looking for CTXS to make us some more scratch as it rebounds off the 50 day.
Volume: 4.476M Avg Volume: 2.656M
BUY POINT: $40.88 Volume=4M Target=$49.00 Stop=$38.55
POSITION: XSQ IH - Sept. $40c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/ctxs.html
Play Date: 05/20/2006
FTI (FMC Technologies--$62.78; 0.00; optionable): Sub-sea & other production facilities for energy industry; food processing equipment for juice industry; etc.
http://biz.yahoo.com/p/f/fti.html
STATUS: Test breakout. FTI exploded higher 2 weeks back, making the definitive move on its breakout run that started mid-April as it moved out of an 11 week ascending base. The big surge this month was on a strong earnings report. This fade is testing that move, and we like how it has come back on mostly lower volume. Solid 3 to 1 accumulation in the base (3 up price weeks on rising volume to 1 down price weeks on rising volume) shows the kind of buying that sets up the run higher. Friday FTI tapped the 18 day EMA (61.91) on the low and rebounded on a strong shot of volume. Not many stocks in this sector are holding their 18 day EMA right now. This is the kind of strength you want to see, and we are ready to move in as FTI starts back up on continued solid volume.
Volume: 1.222M Avg Volume: 719.402K
BUY POINT: $63.72 Volume=1M Target=$76.00 Stop=$61.71
POSITION: FTL JL - Oct. $60c (60 delta) or FTL JM - Oct. $65c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/fti.html
Play Date: 05/20/2006
ITRI (Itron--$64.96; 0.00; optionable): Hardware & software for data collection, forecasting, etc. related to the electric, gas, water utilities.
http://biz.yahoo.com/p/i/itri.html
STATUS: 50 day EMA test. Strong market leader that broke out from a 7 month base in February and rallying up the 18 day EMA (66.84) through early May. After that breakout and run it needed a breather down to the 50 day EMA (63.52), the usual point a stock holds after the breakout and run. A strong stock will pick up the run from there. After a week moving laterally on the 50 day, ITRI showed some solid volume Friday with a big hammer doji. Looks just about ready to resume the move higher and follow the money flow back up once again.
Volume: 455.192K Avg Volume: 432.945K
BUY POINT: $66.85 Volume=550K Target=$79.95 Stop=$64.88
POSITION: IUP HM - Aug. $65c (72 delta) &/or Stock
http://www.investmenthouse.com/ci/itri.html
Play Date: 05/20/2006
PKE (Park Electrochemical--$32.53; 0.00; optionable): Digital and radio frequency/microwave circuit materials, etc. (it's in the printed circuit board business)
http://biz.yahoo.com/p/p/pke.html
STATUS: Test 50 day EMA. Stone cold leader. Broke out from a 22 week base in December and rallied up the 18 day EMA (32.21) through early May when it shot higher on very strong earnings results. It surged over 36 on that move but then sold back as that was just when the market selling got underway. It faded back to the 50 day EMA (30.99) on lower volume, then showed a sharp jump Friday on strong volume. Ready to make the next strong move higher.
Volume: 135.6K Avg Volume: 103.827K
BUY POINT: $32.75 Volume=145K Target=$39.50 Stop=$30.88
POSITION: PKE IF - Sept. $30c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/pke.html
Play Date: 05/20/2006
PSSI (PSS World Medical--$19.12; +0.13; optionable): Medical equipment
http://biz.yahoo.com/p/p/pssi.html
STATUS: Flat base. Has the 7 year high itch, forming a 10 week flat base over the 50 day EMA (18.44) on low volume as it stair-steps up the 50 day EMA for the past 6 months. This base is much needed, giving this leader a nice rest to set up the next move. Like how relative strength has broken out ahead of the stock price; very bullish indication a price breakout is coming soon.
Volume: 571.2K Avg Volume: 475K
BUY POINT: $19.39 Volume=712K Target=$22.95 Stop=$18.55
POSITION: PYQ HW - Aug. $17.50c (76 delta) &/or Stock
http://www.investmenthouse.com/ci/pssi.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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