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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: CLHB; LUK; OII; GLG
Monday night play results:
HITT: Nope. Tanked below the 50 day EMA.
MAR: Slipping below the 50 day as well.
SYKE: Nice bounce higher on volume. Getting there.
VMSI: Trying to make the move.
New Plays:
Upside:
Play Date: 05/23/2006
GLBL (Global Industries--$17.82; +0.56; optionable): Construction services for offshore oil and gas industries.
http://biz.yahoo.com/p/g/glbl.html
After Hours: $17.92
STATUS: Test 18 day EMA. GLBL is making the second test of the 18 day EMA (17.07) after its mid-April breakout from a 6.5 month cup with handle base. Solid volume on the upside moves and a relative strength breakout this month shows the stock's strength as it rises in a selling market. Solid 7 to 5 accumulation in the base. Great volume Tuesday as GLBL moved up and held much of its move. Ready to move in as it continues off the 18 day.
Volume: 2.204M Avg Volume: 1.179M
BUY POINT: $18.25 Volume=1.5M Target=$21.95 Stop=$17.00
POSITION: GQO IW - Sept. $17.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/glbl.html
Play Date: 05/23/2006
HWAY (Healthways--$49.29; +0.21; optionable): Specialized health services
http://biz.yahoo.com/p/h/hway.html
STATUS: Test breakout. Used to be AMHC, always a good stock for us to play. Broke out in mid-March, moving out of a 3.5 month base, moving up to 55 on the breakout. It has spent the past 8 weeks coming back to test the move, holding roughly at the 50 day EMA (47.95) on the lows. Low, below average volume on most of the test. With a strong upside volume session two weeks back. Volume creeping up this week as HWAY moves higher. Nice 3 to 1 accumulation in the current pullback shows buyers continuing to accumulate the stock even as it moves higher.
Volume: 246.93K Avg Volume: 340.5K
BUY POINT: $50.11 Volume=511K Target=$60.00 Stop=$47.89
POSITION: QMH KJ - Nov. $50c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/hway.html
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/ci/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. Not oversold.
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/ci/cell.html
Play Date: 05/23/2006
ZEUS (Olympic Steel--$30.36; +0.94; optionable): Steel and iron
http://biz.yahoo.com/p/z/zeus.html
STATUS: Put. A nice mover in its sector, ZEUS peaked in late April, reversing on high volume the day it hit its all-time high and then gapping lower to the 50 day EMA (31.71) two sessions later. It bounced but made a lower high this month on lower volume, falling two weeks ago back to the 50 day. Monday it gapped lower through that level on volume. Tuesday it rallied back to the 50 day but then faded back as volume backed off to below average. Looking for the selling to continue as ZEUS works off its strong run. This one is not oversold. A move to the target lands us a 43%ish gain.
Volume: 242.321K Avg Volume: 235.267K
BUY POINT: $29.96 Volume=300K Target=$27.45 Stop=$30.65
POSITION: SBQ SF - July $30p (-42 delta)
http://www.investmenthouse.com/ci/zeus.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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us stock market
stock recommendation
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