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us stock market, stock recommendation
Beginn part 2 of 2
THE PLAYS
Good movers: FMD; FORR; SABA; XTO
NEW PLAYS: Looking to the upside with some strong patterns as it looks as if the market is going to try another rebound.
Upside plays:
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/ct/brli.html
Play Date: 06/08/2006
BIDU (Baidu.com--$86.27; -1.38; optionable): Chinese internet
http://biz.yahoo.com/p/b/bidu.html
After Hours: $85.93
STATUS: Test 10 day EMA. Immediately looking at BIDU even though it shook us out Thursday on its test. It rebounded and held over the top of the four week lateral move it formed after the early May gap higher. Strong money flow remains out in front. Going to get back on the horse if it shows us the upside move.
Volume: 5.33M Avg Volume: 1.895M
BUY POINT: $85.25 Volume=2.8M Target=$99.00 Stop=$83.55
POSITION: BDQ IQ - Sept. $85c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/bidu.html
Play Date: 06/08/2006
TSAI (Transaction Sys Architects--$40.50; +0.36; optionable): Enterprise e-payments software
http://biz.yahoo.com/p/t/tsai.html
STATUS: Cup w/handle. Nice little 6 week base has formed over the 50 day EMA (37.84) as TSAI consolidates a nice run higher in April and early May. The base also filled the gap from late April; two for the price of one. Volume surged Thursday as TSAI tested the 18 day EMA (39.74) on the low and rebounded, showing a doji. Nice leader that set up this base just below an all-time high, setting up to give it a running start at the breakout attempt. Very nice.
Volume: 664.288K Avg Volume: 313.603K
BUY POINT: $41.55 Volume=320K Target=$50.50 Stop=$39.55
POSITION: TOU KH - Nov. $40c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/tsai.html
CONTINUING PLAYS
ANEN, KNOL, IWM all still look ready
CIEN, MXWL, ZOLT: Good shakeout
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
ANEN 06/07 Cup hdl 22.27 -0.05 22.57 27.00 225K 234K 20.99
Buy Not Hit.
ANN 06/05 Asc Bse 39.41 -0.44 39.87 46.55 1.8M 1.3M 38.05
Current.
BIDU 05/30 Test BO 86.27 -1.38 82.93 96.95 5.3M 2.5M 86.38
Trailing Stop. Such a volatile stock we took a modest gain & then
it managed a rebound. Still looks as if it will snug
up to the 10 day EMA (83.94) more & that will be a
good test giving us another entry point.
BMRN 05/20 Dbl btm 13.83 +0.08 13.88 16.60 899K 2M 13.05
Current.
CIEN 06/05 Cup hdl 4.41 -0.01 4.85 5.88 30M 38M 4.51
Buy Not Hit. Pullback tapping 4.07 at the intraday low and made a fierce rally back showing a doji on stronger above average volume. Still forming the handle. Doji may indicate a change in pattern.
CYBS 06/02 Cup hdl 9.55 +0.10 10.05 12.00 236K 572K 9.38
Buy Not Hit.
DXPE 06/02 Test 50 39.91 -2.69 47.66 56.78 1.1M 756K 44.55
Current. Gapped down below the 50 day MVA tapping 37.55 at the intraday low on very strong volume surge. Managed to hold at support. Stock needs to hold here.
FMD 05/22 Test 50 46.15 +1.47 46.14 55.00 917K 1M 44.55
Current.
FORR 06/06 Test BO 27.21 +0.88 26.70 31.94 168K 172K 25.78
Current. Tapped 25.63 at the intraday low and rallied back for a great move on excellent volume surge. Broke through some resistance at 27.
FVE 05/17 DB hdl 10.93 -0.13 11.15 13.65 372K 559K 10.77
Current.
GILD 05/31 DB hdl 56.57 -0.24 58.15 69.00 6.4M 7M 56.00
Buy Not Issued. Pullback tapping 55.20 at the intraday low and rallied back holding just under the 18 day MVA on stronger above average volume. Doji may indicate a change in pattern to the upside.
GISX 05/17 Test BO 41.75 +0.07 40.88 48.75 91K 150K 40.78
Current.
HCR 05/10 Test BO 46.62 +0.24 46.77 53.40 663K 750K 45.60
Current. Tapped 45.98 at the intraday low and rallied back on low volume holding the 10 day MVA. Meeting some resistance at 47.
IWM 06/07 Dbl btm 70.16 +0.06 70.57 75.00 140M 68M 69.72
Buy Not Hit.
JCP 06/06 Test 50 65.09 -0.50 66.05 75.95 3.3M 2.5M 63.48
Current.
KNOL 06/07 Cup hdl 9.87 -0.05 10.41 12.50 229K 323K 9.68
Buy Not Hit. Pullback testing the 10 day MVA intraday and rallied back showing a tight doji on average volume. Meeting some resistance at 10. Still forming the handle.
LFUS 05/23 Rv H&S 34.60 -0.25 35.65 42.00 176K 270K 34.22
Exited.
LMIA 05/27 Test BO 18.46 -0.89 20.75 24.95 333K 265K 19.65
Buy Not Issued. Pullback tapping 17.80 at the intraday low and rallied back managing to hold the 50 day MVA. Still in the pattern. Looking for stock to rebound from here.
MXWL 06/06 Test BO 19.73 -0.48 20.78 24.95 226K 223K 19.65
Buy Not Issued. Gapped down tapping 18.51 at the intraday low and made a fierce rally back holding just under the 18 day MVA on very strong volume surge. Still in the pattern. Should be ready to rebound from here.
OII 05/16 Test BO 75.33 -0.85 70.84 82.00 1.1M 600K 79.00
Trailing Stop.
PKE 05/20 Test 50 32.16 -0.76 32.59 39.65 229K 145K 32.11
Exited.
PMTI 05/15 Test BO 43.72 +0.43 42.32 55.00 352K 431K 44.55
Current. Tapped 42.55 at the intraday low and rallied back holding the 18 day MVA on average volume. Testing the breakout. Should be ready to bounce from here.
PPDI 05/31 Test 50 36.97 -0.69 37.78 44.75 938K 950K 36.12
Current.
PRFT 05/25 Asc Bse 13.86 -0.43 13.48 16.25 478K 338K 13.45
Current.
SABA 06/05 Asc Tri 6.96 +0.16 7.02 8.48 389K 175K 6.48
Entered today.
SMDI 05/24 Test 18 11.45 -0.25 12.55 15.12 677K 677K 11.38
Buy Not Hit. Pullback testing the 50 day MVA intraday and rallied back holding just below the 18 day MVA on slightly above average volume. Still in the pattern.
SMSI 05/24 Asc Bse 15.09 -0.49 13.47 16.30 1.1M 714K 14.21
Current. Pullback tapping 14.24 at the intraday low and rallied back on stronger above average volume. Still in uptrend.
SYKE 05/22 Test 50 15.67 -1.09 16.98 20.38 341K 370K 16.39
Exited. Stock fell below the 50 day MVA on strong volume.
UARM 05/27 Test 50 34.66 -0.34 36.65 43.95 652K 1.4M 35.11
Current. Gapped down tapping 33.53 at the intraday low and rallied back to hold the 50 day MVA on average volume. Looking for a rebound from here.
VARI 05/18 Test 50 44.18 -0.24 43.68 49.95 160K 275K 44.11
Current. Pullback tapping 43.18 at the intraday low and rallied back on rising volume holding above the 18 day MVA on rising, but below average volume. Testing the breakout. Should be ready to rebound from here.
VARI 05/06 Cup hdl 44.18 -0.24 44.68 52.95 160K 264K 44.11
Current.
VSH 05/31 Test 50 14.98 -0.73 16.37 20.00 3.7M 1.7M 15.84
Exited. Gapped down and continued to tank below the 50 day MVA on very strong volume surge.
VVUS 06/01 Test BO 4.42 -0.12 4.85 5.97 232K 677K 4.51
Buy Not Issued.
ZOLT 06/02 Dbl btm 29.03 -0.69 32.22 39.00 725K 850K 29.96
Buy Not Issued. Pullback testing the 50 day MVA intraday and rallied back on rising, but average volume. Still in the pattern.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ALTR 06/02 Put 18.05 +0.03 18.75 17.41 5.5M 6M 18.48
Current. Bounced off the low of 17.62 on rising volume. Holding at some support. Came off the day's high of 18.30. Still in downtrend.
OXY 06/07 Put 96.98 +2.26 96.65 90.65 7M 3.8M 98.11
Buy Not Issued. Saw the market was ready to bounce so did not take the bite when stock hit 91.70 at the intraday low.
PGNX 05/27 Put 22.83 +0.95 21.50 20.00 420K 300K 21.75
Current. Bounced on stronger above average volume. Needs to hold at the 50 day MVA (23)
X 06/05 Put 60.99 +0.38 64.22 60.00 9.7M 4.5M 61.55
Target Hit. Saw the market was ready to bounce so took a 45% gain and got out of the play.
XTO 06/05 Put 39.05 -0.42 40.38 38.35 8.6M 3.2M 40.21
Target Hit. Saw the market was ready to bounce so took a 50% gain and got out of the play.
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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