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stock recommendation, stock option
Begin part 2 of 2
Full report issues Wednesday.
THE PLAYS
Good movers: BIDU; FORR; GISX; PGNX; X
NEW PLAYS:
Upside plays:
Play Date: 06/06/2006
JCP (J.C. Penney--$65.22; +1.36; optionable): Department stores
http://biz.yahoo.com/p/j/jcp.html
After Hours: $65.46
STATUS: Test 50 day EMA. JCP gapped higher last Thursday on better than expected same store sales data. It moved sideways Friday and Monday on low volume, then rallied Tuesday on a strong volume surge. Looks ready to continue the move. JCP continues to outperform much of the retail sector.
Volume: 3.839M Avg Volume: 2.073M
BUY POINT: $65.65 Volume=2.5M Target=$75.50 Stop=$63.11
POSITION: JCP KM - Nov. $65c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/jcp.html
Play Date: 06/06/2006
MXWL (Maxwell Technologies--$20.24; -0.91; optionable): Energy storage and power delivery components
http://biz.yahoo.com/p/m/mxwl.html
STATUS: Breakout test. Huge surge Friday on strong volume as MXWL broke out from a 16 week range between 17 and 20, mostly using the 50 day EMA (19.08) as support. Outstanding 7 to 2 accumulation in the base shows lots of buying setting up the breakout and run higher. Strong move then a test this week. Volume was lower Monday but jumped Tuesday as it tapped the 50 day EMA (19.08) on the low and rebounded to hold the breakout. Strong money flow is a good complement to the buying.
Volume: 356.412K Avg Volume: 148.834K
BUY POINT: $20.78 Volume=223K Target=$24.95 Stop=$19.65
POSITION: QMW LD - Dec. $20c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/mxwl.html
CONTINUING PLAYS
Play Date: 06/05/2006
SABA (Saba Software--$6.84; +0.23; no options): Human capital management solutions
http://biz.yahoo.com/p/s/saba.html
STATUS: Ascending triangle. Strong volume again as SABA moves higher. Looks ready to buy as it continues the move. To recap: The current 16 week base formed using the 50 day EMA (6.08) as support. It is a base formed following the January breakout from a much larger 12 month double bottom with handle base. It is showing excellent action in the base, with surging volume. Before that it has compiled an excellent 6 to 1 accumulation reading (6 up price weeks on rising volume to 1 down price weeks on rising volume) with money flow surging higher ahead of price. Relative strength broke out ahead of price, a very bullish indication that price is about to make the move.
Volume: 246.02K Avg Volume: 100K
BUY POINT: $6.87 Volume=175K Target=$8.32 Stop=$6.39
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/saba.html
CONTINUING PLAY TABLE:
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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
ANN 06/05 Asc Bse 39.27 -0.11 39.87 46.55 1.6M 1.3M 38.05
Buy Not Hit.
AXE 05/24 Test 50 48.95 -0.43 50.54 58.00 451K 400K 49.05
Exited.
BIDU 05/30 Test BO 89.85 +6.59 82.93 96.95 5.5M 2.5M 86.38
Current.
BMRN 05/20 Dbl btm 13.92 +0.26 13.88 16.60 904K 2M 13.05
Current.
CC 05/15 Test 18 30.49 +0.04 30.11 35.95 2.8M 2.8M 29.55
Current.
CIEN 06/05 Cup hdl 4.63 +0.09 4.85 5.88 17M 38M 4.51
Buy Not Hit. Tapped 4.44 at the intraday low and rallied back on low volume. Still forming the handle.
CSX 06/02 Test 50 64.97 -1.50 68.85 78.95 3M 2.6M 66.00
Buy Not Hit. The stock has not performed so will drop.
CYBS 06/02 Cup hdl 9.40 +0.05 10.05 12.00 193K 572K 9.38
Buy Not Hit.
DOX 05/25 Test BO 36.29 -0.46 37.57 44.00 1M 1.6M 36.39
Buy Not Hit. the stock has not made the move we were looking for so will drop.
DXPE 06/02 Test 50 44.08 -2.58 47.66 56.78 779K 756K 44.55
Current. Pullback testing the 50 day MVA intraday and rallied back on lower, but strong volume. May continue to test back to 50 day MVA (42)
FMD 05/22 Test 50 44.99 -1.68 46.14 55.00 804K 1M 44.55
Current.
FORR 06/06 Test BO 26.67 +0.88 26.70 31.94 187K 172K 25.45
Entered today. Tested the 18 day MVA intraday and rallied back on very strong volume surge for a great move.
FVE 05/17 DB hdl 11.09 -0.25 11.15 13.65 194K 559K 10.77
Current.
GILD 05/31 DB hdl 56.59 +0.10 58.15 69.00 4.3M 7M 56.00
Buy Not Issued. Tapped 57.58 at the intraday high, but gave much of it back on rising, but below average volume. Still in the pattern.
GISX 05/17 Test BO 42.03 +0.63 40.88 48.75 195K 150K 40.78
Current.
HCR 05/10 Test BO 46.47 -0.10 46.77 53.40 930K 750K 45.60
Current. Pullback testing the 18 day MVA intraday and rallied back holding the 10 day MVA on average volume. Meeting some resistance at 47.
LFUS 05/23 Rv H&S 35.00 +0.42 35.65 42.00 128K 270K 34.22
Current.
LMIA 05/27 Test BO 19.25 +0.20 20.75 24.95 128K 265K 19.65
Buy Not Issued. Bounced on low volume. Testing the breakout. May continue to test back to 50 day MVA (18.75)
OII 05/16 Test BO 79.19 +0.73 70.84 82.00 884K 600K 79.00
Current. Tested the 10 day MVA intraday and rallied back on strong volume. Continue with the uptrend.
PFWD 05/17 Test 50 12.01 -0.11 13.15 15.95 100K 300K 12.55
Exited.
PKE 05/20 Test 50 32.80 +0.18 32.59 39.65 132K 145K 32.11
Current. Tested the 10 day MVA intraday and rallied back showing a tight doji on slightly above average volume. Moving up after testing the breakout.
PLLL 04/10 Cup 22.58 -0.29 21.55 25.88 573K 565K 24.00
Current. Pullback on stronger above average volume testing the 50 day MVA intraday and rallied back. Looking for a bounce off the 50 day MVA (22.13)
PMTI 05/15 Test BO 44.96 +0.45 42.32 55.00 509K 431K 44.55
Current. Tapped 42.12 at the intraday low and made a fierce rally back showing a doji just above the 10 day MVA on lower, but strong volume. Doji may indicate change in pattern to the upside.
PPDI 05/31 Test 50 36.84 +0.64 37.12 44.50 407K 950K 35.15
Buy Not Issued.
PRFT 05/25 Asc Bse 14.03 +0.03 13.48 16.25 238K 338K 13.20
Current.
SABA 06/05 Asc Tri 6.84 +0.23 6.87 8.32 246K 175K 6.39
Buy Not Hit.
SMDI 05/24 Test 18 11.92 -0.10 12.55 15.12 666K 677K 11.38
Buy Not Hit. Pullback tapping 11.32 at the intraday low and rallied back on above average volume. Still in the pattern.
SMSI 05/24 Asc Bse 15.17 -0.28 13.47 16.30 1.1M 714K 14.00
Current. Gapped up at the open, but gave it back testing the 10 day MVA intraday on lower, but strong volume. Still in uptrend.
SYKE 05/22 Test 50 16.62 -0.14 16.98 20.38 288K 370K 16.39
Current. Pullback below the 18 day MVA on slightly above average volume. May continue to test back to 50 day MVA (16)
UARM 05/27 Test 50 35.90 -0.46 36.65 43.95 724K 1.4M 35.11
Current. Pullback tapping 34.85 at the intraday low and rallied back holding the 10 day MVA. Still in good shape. Should be ready to bounce from here.
VARI 05/18 Test 50 44.61 -0.04 43.68 49.95 209K 275K 44.11
Current. Volatile session. Pullback tapping 44.22 at the intraday low and rallied back showing a tight doji on average volume. Came off the day's high of 45.28. Testing the breakout. Looking for a bounce off the 10 day MVA (44.20)
VARI 05/06 Cup hdl 44.61 -0.04 44.68 52.95 209K 264K 44.11
Current.
VSH 05/31 Test 50 16.00 -0.24 16.37 20.00 2.1M 1.7M 15.84
Current. Gapped down at the open tapping 15.77 at the intraday low and rallied back holding the 18 day MVA on above average volume. Showing good action coming off the day's low. Should be ready to bounce from here.
VVUS 06/01 Test BO 4.50 -0.21 4.85 5.97 239K 677K 4.51
Buy Not Issued.
WFT 05/20 Test 50 53.09 +0.47 53.30 63.78 3.6M 4.5M 52.39
Current.
WIRE 06/03 PreAnn 34.02 -2.62 39.25 47.25 1.3M 1.4M 37.38
Buy Not Hit. Stock has not made the move we were looking for so will drop.
ZOLT 06/02 Dbl btm 29.77 -0.97 32.22 39.00 464K 850K 29.96
Buy Not Issued. Pullback holding the 18 day MVA on low volume. Still forming the bottom.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ALTR 06/02 Put 18.43 +0.03 18.75 17.41 4.6M 6M 18.85
Current. Holding at some support.
PGNX 05/27 Put 21.04 -0.80 21.50 20.00 247K 300K 21.75
Current. Great move down the 10 day MVA on rising volume. Meeting some support at 21.
X 06/05 Put 63.91 -1.11 64.22 60.00 7.3M 4.5M 65.42
Entered today.
XTO 06/05 Put 40.78 +0.09 40.48 38.35 2.9M 3.2M 41.25
Buy Not Issued. Bounced showing a doji under the 10 day MVA on low volume. Taking a breather after yesterday's great move down.
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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stock recommendation
stock option
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