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trade stock, stock split
Begin part 3 of 3
THE PLAYS
Good movers: FORR; LH; CMC; KFX; XTO
Wednesday night play results:
GRMN: Tested the 50 day EMA and rebounded on a good shot of volume.
HWAY: Nice test and recovery.
KNOL: Excellent doji at the 10 day EMA
OXY: Gapped lower and then recovered. Still below the 50 day.
LH: Nice break higher on volume.
New Plays:
Upside:
Play Date: 06/08/2006
BHI (Baker Hughes--$81.95; +0.89; optionable): Oil and gas service company
http://biz.yahoo.com/p/b/bhi.html
After Hours: $81.95
STATUS: Test 50 day EMA. Sure energy is under pressure, but BHI has held the 50 day EMA (79.62) twice the past three weeks, undercutting that level Thursday but then coming back for a gain on strong volume. Looking for a solid trade on this one as the energy stocks rebound from the selling, relief bounce or more. Others in the sector have announced splits and BHI is at that point.
Volume: 8.407M Avg Volume: 4.104M
BUY POINT: $82.48 Volume=5.2M Target=$94.85 Stop=$79.55
POSITION: BHI JQ - Oct. $85c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/bhi.html
Play Date: 06/08/2006
BRLI (Bio-Reference Labs--$19.33; +0.70; optionable): Medical labs
http://biz.yahoo.com/p/b/brli.html
STATUS: Ascending triangle. Nice strong volume Thursday as BRLI announced earnings and jumped out of a 6 month base that formed mostly using the 50 day EMA (18.43) as support. It is moving toward an all-time high, and we would like to get in on this one as it makes that move. Solid earnings on top of already solid earnings.
Volume: 365.513K Avg Volume: 88.5K
BUY POINT: $19.67 Volume=145K Target=$23.65 Stop=$18.65
POSITION: BJQ KW - Nov. $17.50c (72 delta) &/or Stock
http://www.investmenthouse.com/ci/brli.html
Play Date: 06/08/2006
GES (Guess? Inc.--$44.04; +1.06; optionable): Clothing
http://biz.yahoo.com/p/g/ges.html
STATUS: Ascending triangle. Strong volume Thursday, but it was not related to any sell off and recovery, just a test of the 10 day EMA (42.84) and bouncing for a nice gain. Strong 4.5 month base formed using the 50 day EMA (41.74) as support. Excellent pattern setting GES up for a breakout to a new all-time high. Solid 6 to 4 accumulation in the base (6 up price weeks on rising volume to 4 down price weeks on rising volume) shows plenty of buying to send it to that new high. Held up remarkably well during the selling.
Volume: 1.437M Avg Volume: 565.189K
BUY POINT: $44.95 Volume=848K Target=$53.95 Stop=$42.55
POSITION: GES LI - Dec. $45c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/ges.html
Play Date: 06/08/2006
JCOM (J2 Global Communications--$26.58; +0.25; optionable): Outsourced, value added messaging and communications services
http://biz.yahoo.com/p/j/jcom.html
After Hours: $26.58
STATUS: Test breakout. JCOM split in late May, then blasted out of a 5 month base on strong trade. During the selling this month it has slid back to the 18 day EMA (26.03), the perfect near support for a breakout to hold. It sold on lower volume as well, showing very few sellers as it made the trip back. Solid leader, oblivious to the selling, just minding its own business. Excellent action, ready to move higher in this rebound.
Volume: 864.981K Avg Volume: 1.111M
BUY POINT: $26.89 Volume=1.2M Target=$32.32 Stop=$25.77
POSITION: JQF LE - Dec. $25c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/jcom.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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trade stock
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