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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: BGC; CELG; CLHB; OII; PKE; SMDI; CELL
Thursday night play results:
BGC: Strong volume as the rebound continues
GILD: Gapped higher but no more volume and tested the Thursday move. Not bad.
ICUI: Still in the nice test mode.
MAR: Faded back from the Thursday move on rising trade. Looks like it has to make the move.
CELG: Continued the move higher.
LMIA: Still a nice test
New Plays:
Upside:
Play Date: 06/02/2006
DXPE (DXP Enterprises--$45.19; +2.69; no options): MRO products for industrial customers
http://biz.yahoo.com/p/d/dxpe.html
After Hours: $46.67
STATUS: Test 50 day EMA. DXPE made us some strong gain on its May run as it broke out form a 5 week lateral base that tested the early March breakout from a larger 6 month pattern. It surged to 59.24 and then used the market selling to test the move, coming back to form a floor at 45 before gapping lower to the 50 day EMA (41.82) Thursday. It rebounded Friday on good, above average volume, tapping the 10 day EMA (45.95) on the high. Good shakeout Thursday; looks like it is ready to make its next move upside. Want to see it clear 18 day EMA (46.43) on solid trade. It was up after hours, doing just that.
Volume: 631.423K Avg Volume: 504.085K
BUY POINT: $46.65 Volume=756K Target=$55.98 Stop=$44.88
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/dxpe.html
Play Date: 06/02/2006
MOLX (Molex--$36.15; +0.06; optionable): Electromechanical components
http://biz.yahoo.com/p/m/molx.html
After Hours: $36.20
STATUS: Test breakout. MOLX broke out from a 27 month cup with handle in early April. It rallied just over 39 on the move and then sold off in the May market selling, undercutting the 50 day EMA (35.52) but then posting a sharp rebound. It spent the past week moving laterally over that level on very low, below average volume. Money flow has risen during that lateral move. Looking for that to spur the next break higher and continue the run. Good test for a solid market leader.
Volume: 272.996K Avg Volume: 631.323K
BUY POINT: $36.65 Volume=900K Target=$43.98 Stop=$35.35
POSITION: OXQ KG - Nov. $35c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/molx.html
Play Date: 06/02/2006
ZOLT (Zoltek Companies--$31.96; +2.95; optionable): Industrial electrical equipment
http://biz.yahoo.com/p/z/zolt.html
After Hours: $31.98
STATUS: Test 50 day EMA. ZOLT started up sharply off of the 50 day EMA (26.81) sharply Friday, rallying on strong above average volume, the best trade in over a week. This stock can peel off big jumps in real estate in a hurry, and we are looking to capture this next move. It filled the gap higher from mid-May, tested key support, and is now moving higher.
Volume: 983.484K Avg Volume: 697.834K
BUY POINT: $31.22 Volume=850K Target=$39.00 Stop=$29.57
POSITION: LVQ IF - Sept. $30c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/zolt.html
Play Date: 06/02/2006
ZUMZ (Zumiez--$33.96; -0.97; optionable): Apparel stores
http://biz.yahoo.com/p/z/zumz.html
STATUS: Reverse head and shoulders. Split in late April, rallied a bit more and then fell into the current 5 week base, using the 50 day EMA (31.56) as support. Excellent 3 to 0 accumulation in the base (3 up price weeks on rising volume to 0 down price weeks on rising volume) shows all buying, setting up the next breakout and run for this strong market leader. One of those retail leaders we referred to.
Volume: 320.651K Avg Volume: 288.748K
BUY POINT: $35.05 Volume=433K Target=$42.00 Stop=$32.95
POSITION: QUY KG - Nov. $35c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/zumz.html
New buy point on current position:
Play Date: 06/03/2006
JOBS (51job, Inc.--$27.20; -0.38; no options): Staffing and outsourcing
http://biz.yahoo.com/p/j/jobs.html
STATUS: Test 18 day EMA. Withstood the Friday jobs report rather well, tapping back to the 18 day EMA (26.77) on the low and recouping some of the losses. Volume moved up to average after trailing off the past week as JOBS moved laterally, testing the strong April and May run higher. Withstanding the jobs report was a good test. A break higher from here on strong volume will be a good indication of JOBS continued strength and a new run coming.
Volume: 293.118K Avg Volume: 241.553K
BUY POINT: $28.65 Volume=350K Target=$34.65 Stop=$26.65
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/jobs.html
Downside:
Play Date: 06/02/2006
ALTR (Altera--$19.06; -0.41; optionable): Semiconductors
http://biz.yahoo.com/p/a/altr.html
After Hours: $19.06
STATUS: Test 200 day SMA. ALTR was hardly immune from the May selling, breaking through the 200 day SMA (19.48) mid-month after a modest attempt at holding that support. It fell to 18 and then spent the past 2 weeks rebounding to try and recover that level. Strong volume attempt Wednesday took it right up to that point. Then it rolled over and Friday it was selling again. Unlike the indices and many stocks, ALTR did not form a double bottom. This rollover may be where it tries or it may simply keep on going lower. Either way, a move to the target lands us a 45%ish gain.
Volume: 6.241M Avg Volume: 5.511M
BUY POINT: $18.94 Volume=6M Target=$17.65 Stop=$17.65
POSITION: LTQ DS - July $20p (-62 delta)
http://www.investmenthouse.com/ci/altr.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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