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us stock market, stock recommendation
Begin part 2 of 2
Full report issues Wednesday.
THE PLAYS
NEW PLAYS:
Upside plays:
Play Date: 05/23/2006
LFUS (Littelfuse--$34.01; -0.83; optionable): Circuit protection products for electronics, automotive, electrical markets
http://biz.yahoo.com/p/l/lfus.html
After Hours: $34.64
STATUS: Reverse head and shoulders. Holding up remarkably well in the selling, going about setting up the current 11 week base over the 50 day EMA (32.91). Strong money flow is leading higher a good complement to the strong 4 to 0 accumulation (4 up price weeks on rising volume to 0 down price weeks on rising volume). Solid action in the weak market, with good price/volume action on a day to day basis in addition to the accumulation. Eased back to close at the 10 day EMA Tuesday on lower volume, again doing its own thing in the market selling.
Volume: 161.827K Avg Volume: 179.749K
BUY POINT: $35.65 Volume=270K Target=$42.00 Stop=$33.55
POSITION: GFQ IG - July $35c (54 delta) &/or Stock
http://www.investmenthouse.com/ct/lfus.html
Downside plays:
Play Date: 05/23/2006
CELL (Brightpoint--$23.18; -0.99; optionable): Distribution of wireless devices and accessories.
http://biz.yahoo.com/p/c/cell.html
After Hours: $23.18
STATUS: Put. CELL rallied well into the end of April, a bona fide market leader. Peaked at 28 but on low volume; the buyers just were not moving in as it continued its run. Stalled a bit to start May and then sliced through the 50 day EMA (24.19) on a huge surge of volume. Tanked to 20 where it found support and rebounded the past week. Stalled out at the 50 day EMA again, rolling over Tuesday after reaching higher and then turning negative. Money flow has shifted and is now heading lower. Looking to move in as it continues lower. A move to the target lands us a 46%ish gain.
Volume: 1.034M Avg Volume: 1.01M
BUY POINT: $23.04 Volume=1.2M Target=$21.00 Stop=$23.72
POSITION: ULD SE - July $25p (-68 delta)
http://www.investmenthouse.com/ct/cell.html
CONTINUING PLAY TABLE:
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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 31.13 +0.36 33.22 39.45 6.8M 7.1M 33.55
Current. Gapped higher and moved up to 32 but faded w/market
into close. There is some support at 31 (close) but
has to hold this move as upside was truncated on the
bounce.
AEIS 05/03 Cup hdl 13.96 -0.39 16.92 20.32 283K 800K 16.00
Exited.
BMRN 05/20 Dbl btm 12.54 -0.22 13.50 16.25 517K 2M 12.45
Buy Not Hit.
CC 05/15 Test 18 29.27 -0.01 30.11 35.95 1.6M 2.8M 28.45
Current.
COHR 05/17 Test 50 34.75 -0.29 35.42 41.00 320K 435K 33.95
Buy Not Issued.
CTSH 04/26 Test BO 63.25 +1.23 64.11 73.95 1.8M 1.4M 66.38
Current.
CTXS 05/20 Test 50 39.00 +0.14 40.88 49.00 2.3M 4M 38.55
Buy Not Hit. Showing a doji on the simple 50 day MVA on low volume.
Looking for a rebound off the 50 day MVA (38.70) Still in the pattern.
EGO 04/26 Cup hdl 4.46 -0.13 5.58 6.95 1.7M 1.8M 5.22
Exited. Gapped up to the 50 day EMA but could not hold the move, rolling over.
FLSH 05/13 Cup hdl 33.68 -1.00 35.55 43.95 846K 1.9M 33.88
Buy Not Issued. Ease back below the 18 day MVA on lower below average volume. Still forming the handle.
FMD 05/22 Test 50 44.71 +0.05 45.85 55.00 262K 1M 44.00
Buy Not Hit.
FVE 05/17 DB hdl 10.68 -0.10 11.15 13.65 214K 559K 10.37
Current.
GG 03/20 Asc Bse 30.68 +0.48 28.32 33.98 12M 5.6M 38.22
Trailing Stop. Tried to break through the 50 day MVA but could not. Will look at it again when ready to rebound.
GISX 05/17 Test BO 39.31 +0.29 40.11 47.95 134K 150K 38.72
Buy Not Issued.
GLG 04/12 Test BO 35.71 +1.95 36.59 43.72 3.7M 1.8M 40.57
Current. Gapped up at the open and continued to move up for a nice gain on stronger above average volume. Held the 10 day MVA. Came off the day's high of 36.82.
HCR 05/10 Test BO 46.33 +0.07 46.77 53.40 779K 750K 45.30
Current. Beginning to consolidate on lower volume. Came off the day's high of 47.30.
HITT 05/22 Test 50 32.48 -1.09 35.15 42.00 173K 210K 33.40
Buy Not Hit. The stock has not made the move we were looking for so will drop.
LRCX 05/16 Test 50 44.56 -2.21 48.57 58.65 3.2M 4M 46.55
Buy Not Hit. The stock has not performed so will drop.
MGI 02/22 DB hdl 33.82 -0.16 28.69 33.98 580K 550K 35.25
Current. Making a lateral move just under the 18 day MVA on average volume.
NTRI 04/14 DB hdl 67.12 +0.21 47.19 56.00 1.4M 1.5M 66.32
Current. Pullback testing the 18 day MVA intraday (66.50)on average volume. Meeting resistance at 70.
OII 05/16 Test BO 71.08 +2.56 70.84 82.00 739K 600K 68.00
Current. Gapped up at the open for a nice gain on strong volume. Came off the day's high of 73.95. Moving up after testing the 18 day MVA.
PFWD 05/17 Test 50 12.97 -0.01 13.15 15.95 215K 300K 12.23
Current.
PKE 05/20 Test 50 30.65 -0.60 32.75 39.50 122K 145K 30.88
Buy Not Hit. Pullback on lower, but above average volume managing to hold the simple 50 day MVA. Stock needs to hold here.
PLLL 04/10 Cup 22.00 +0.26 21.55 25.88 522K 565K 24.00
Current. Tapped 23.30 at the intraday high (18 day MVA), but gave much of it back showing a doji on the 50 day MVA on slightly above average volume. Should hold here.
PMTI 05/15 Test BO 41.25 -0.47 42.32 55.00 241K 431K 40.62
Current. Pullback on below average volume holding just above the 18 day MVA. May continue to test back to 40.35.
QCOM 05/20 Test 20 45.38 -1.25 47.75 53.00 16M 15M 45.88
Buy Not Hit. The stock has not made the move we were looking for so will drop.
RTN 05/15 Asc Bse 45.45 -0.66 47.55 54.95 1.6M 2M 45.89
Buy Not Hit.
SYKE 05/22 Test 50 16.61 +0.38 16.85 20.25 339K 370K 15.89
Buy Not Hit. Moving up for a nice gain on stronger above average volume after testing the 50 day MVA. Looking good.
VARI 05/18 Test 50 42.98 -0.07 43.31 49.95 176K 275K 41.44
Buy Not Issued. Gapped up at the open, but gave it back holding the 10 day MVA on average volume. Still in the pattern.
VARI 05/06 Cup hdl 42.98 -0.07 44.68 52.95 176K 264K 42.72
Current.
VMSI 05/22 Test BO 47.22 +0.04 47.85 56.95 310K 425K 45.32
Buy Not Issued. Tapped 47.96 at the intraday high, but gave much of it back on average volume. Need to see a clear and decisive move on strong volume.
WEBX 04/29 Test BO 33.87 -0.54 36.45 43.45 852K 850K 34.55
Current.
WFT 05/20 Test 50 51.67 +0.41 53.30 63.78 5.1M 4.5M 49.65
Entered today. Gapped higher, held the test & bounced on good volume, hitting 54.08 on the high. Got caught in the late dumping
of all stocks even as oil rallied. Still easily above
the 50 day EMA (49.86).
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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