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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: CLHB; GRMN; IFO; NTGR; ODFL; SPSS
Wednesday night play results:
CELG: Rallied well, hitting the buy point just ahead of the close. Ready to move in.
HLEX: Tested back to the 10 day EMA while the market rallied.
NTGR: Nice break higher continues on strong volume.
RNT: Moving higher toward the breakout.
New Plays:
Upside:
Play Date: 06/01/2006
BGC (General Cable--$34.87; +2.61; optionable): Wire
http://biz.yahoo.com/p/b/bgc.html
STATUS: Test 50 day EMA. BGC gapped higher in early May in all of that commodities related run that ended badly for many commodities. BGC is a materials stock, but it uses copper so it was caught in that move. It sold off with them as well, but it held the 50 day EMA (31.57) the past two weeks on low volume, filling the gap and setting up for the next run higher. Thursday volume jumped and so did price as BGC received some position coverage. Nice fill of the gap and good volume rebound. Ready to move in on a continued move higher and then again after a successful test.
Volume: 1.468M Avg Volume: 709.828K
BUY POINT: $35.05 Volume=735K Target=$42.00 Stop=$32.71
POSITION: BGC KG - Nov. $35c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/bgc.html
Play Date: 06/01/2006
CSH (Cash America Intl.--$31.34; +0.57; no options): Pawn, check cashing
http://biz.yahoo.com/p/c/csh.html
STATUS: Test 50 day EMA (31.14). CSH broke to a new high in mid-April, continuing its run from the January breakout from a year long cup with handle base. Nice run up to 35and then a test during the market selling. Held the 50 day, working laterally the past three weeks, setting up the continued run higher. Volume jumped Thursday as CSH started higher. Need to see more of a breakaway to take it out of this range and give us the buy point.
Volume: 387.3K Avg Volume: 231.885K
BUY POINT: $31.75 Volume=250K Target=$38.00 Stop=$30.89
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/csh.html
Play Date: 06/01/2006
IMA (Inverness Medical--$30.43; +1.58; no options): Medical technical instruments
http://biz.yahoo.com/p/i/ima.html
STATUS: Test breakout. IMA broke higher in early May, clearing an 11 month base on strong trade. As with just about all stocks, it sold back in the market selling, but held the 50 day EMA (27.66) as it did. Tried to move last week but no trade. Thursday that ended as volume jumped and IMA surged higher. Ready to move in as IMA continues its run higher.
Volume: 266.7K Avg Volume: 153.035K
BUY POINT: $30.65 Volume=200K Target=$36.78 Stop=$28.69
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/ima.html
Continuing plays ready to move:
Play Date: 05/31/2006
CELG (Celgene--$42.98; +1.53; optionable): Biotechnology
http://biz.yahoo.com/p/c/celg.html
After Hours: $42.98
STATUS: Ascending base. Volume cracked just over average Thursday as CELG hit the buy point just before the close. Ready to move in as CELG continues the breakout. To recap: Good price/volume action with a good spike Friday as CELG gapped higher and another rising volume session Wednesday as CELG posted a nice gain off the 50 day EMA (39.97). CELG looks ready to move out of its 8 week consolidation over that support level after its strong 2005 to March 2006 run. Positive accumulation and strong money flow. Looking for continued strong volume as CELG makes the breakout from its base to a new all-time high.
Volume: 4.042M Avg Volume: 3.636M
BUY POINT: New: $43.05 (orig. $42.95) Volume=5.5M Target=$51.50 Stop=$40.55
POSITION: LQH JV - Oct. $42.50c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/celg.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CCJ, CELG, FLR, GME, MGPI, MRVL, NVDA, SGMS, WM
New additions: AKAM, CCJ, FLR, MGPI, SGMS, WM
CCJ: Holding the 18 day EMA and bouncing Thursday but on low volume. Trying to set up its next run off this test.
MGPI: Low volume but a very nice tight lateral move over the 18 day EMA.
WM: Moving higher again but no volume (again). Needs to show a bit more trade to give us the buy.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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