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world stock market, us stock market
Begin part 2 of 2
THE PLAYS
Good movers: UARM; ALTR; BWGN; OXY; VSH; WFT; X
NEW PLAYS:
Upside plays: Looking at some upside as we look for a rebound after one more downside run.
Play Date: 06/13/2006
PRFT (Perficient--$12.55; -0.41; no options): Software for e-business solutions
http://biz.yahoo.com/p/p/prft.html
STATUS: Test 50 day EMA. Taking another look at PRFT as it tests its 50 day EMA at what looks to be coincident with a rebound attempt in the market. A top stock in the market is making a test of the 50 day EMA (12.58) after a strong run January to May. In the market selling it could not hold up, but it did not destroy its pattern. As the market looks ready to bounce after a bit more selling and PRFT held up well, we are looking to move into this strong stock as it makes a rebound. Lots of momentum to give us a fast return as it recovers.
Volume: 372.498K Avg Volume: 212.002K
BUY POINT: $13.11 Volume=318K Target=$15.75 Stop=$12.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/prft.html
Play Date: 06/13/2006
LH (Laboratory Corp.--$60.39; +0.27; optionable): Medical labs
http://biz.yahoo.com/p/l/lh.html
STATUS: Breakout test. While the market sold LH formed up a nice 19 week ascending base along the 50 day EMA (58.82). It broke higher a week back and then came back to test Friday and Monday, holding the 10 day EMA (60.11). Volume surged Tuesday on world of a collaboration with Duke. Excellent action in the market, and it looks ready to move higher and continue its breakout.
Volume: 2.376M Avg Volume: 739.578K
BUY POINT: $60.89 Volume=1M Target=$71.00 Stop=$59.48
POSITION: LH KL - Nov. $60c (48 delta) &/or Stock
http://www.investmenthouse.com/ct/lh.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 38.30 -0.90 39.87 46.55 1.1M 1.3M 38.05
Current.
AYE 06/10 Asc Bse 36.32 -0.85 37.41 44.65 1.3M 1.4M 36.31
Current.
BIDU 06/08 Test BO 78.20 -5.99 87.12 100.00 4.4M 2.8M 81.55
Buy Not Hit. The stock has not performed so will drop.
BMRN 05/20 Dbl btm 13.70 +0.02 13.88 16.60 1.1M 2M 13.21
Current.
BRLI 06/08 Asc Tri 19.07 +0.08 19.81 23.88 157K 145K 18.65
Current. Gapped down to open on the 18 day MVA and rallied back on strong volume. Came off the day's high of 19.25. meeting some resistance at 19.20. Moving up after testing the 50 day MVA.
EGOV 06/10 Test BO 6.58 -0.03 6.82 8.38 124K 275K 6.55
Buy Not Hit.
FMD 05/22 Test 50 48.74 -1.26 46.14 55.00 773K 1M 48.25
Current.
FORR 06/06 Test BO 26.02 -0.02 26.70 31.94 142K 172K 25.78
Current. Pullback holding the 18 day MVA on stronger above average volume. Testing the breakout.
FVE 05/17 DB hdl 10.55 -0.27 11.15 13.65 421K 559K 10.77
Current.
GILD 05/31 DB hdl 57.02 +0.86 58.15 69.00 5.1M 7M 56.00
Buy Not Issued. Tapped 55.60 at the intraday low and rallied back on rising volume. Came off the day's high of 57.75 (50 day MVA). Still in the pattern.
GISX 05/17 Test BO 39.58 -0.80 40.88 48.75 143K 150K 40.78
Exited.
HCR 05/10 Test BO 45.60 -0.30 46.77 53.40 1.2M 750K 45.60
Current. Pullback tapping 45.23 at the intraday low and rallied back on stronger above average volume. Will let stock test back to 50 day MVA (45)
JCP 06/06 Test 50 62.10 -1.04 66.05 75.95 2.3M 2.5M 63.48
Exited.
KNOL 06/07 Cup hdl 9.54 -0.12 10.41 12.50 144K 323K 9.68
Buy Not Hit. Pullback testing the 18 day MVA intraday and rallied back holding the 10 day MVA on low volume. Still forming the handle. Meeting some resistance at 10.
LNT 06/12 Test BO 33.78 -0.45 34.88 40.00 496K 550K 33.95
Buy Not Hit.
SABA 06/05 Asc Tri 6.18 -0.63 7.02 8.48 166K 175K 6.57
Current. Got some big afternoon sellers, but rebounded into
the close to hold the 50 day EMA (6.16). Needs to bounce
from here as it was doing late.
SMDI 05/24 Test 18 10.46 -0.44 12.55 15.12 782K 677K 11.38
Buy Not Hit. Pullback below the 50 day MVA on stronger above average volume. Tapped support at 10 at the intraday low. Still in the pattern. Will let test back to support at 10.
SMSI 05/24 Asc Bse 13.29 -0.72 13.47 16.30 2.1M 714K 14.21
Current. Pullback testing the 50 day MVA intraday and rallied back on strong volume surge. Looking for a rebound off the 50 day MVA (12.86)
SVNT 06/12 Rv H&S 5.59 -0.13 5.98 7.22 227K 544K 5.56
Buy Not Hit.
UARM 05/27 Test 50 35.74 +0.82 36.65 43.95 1.1M 1.4M 35.11
Current. Bounced off the 50 day MVA for a nice gain on stronger above average volume. Holding just below some resistance at 36. Moving up after testing the breakout.
VARI 05/18 Test 50 41.56 -0.82 43.68 49.95 202K 275K 44.11
Exited. Tapped 43.08 at the intraday high, but reversed on rising volume falling below the 50 day MVA.
VARI 05/06 Cup hdl 41.56 -0.82 44.68 52.95 202K 264K 44.11
Exited.
XPRSA 06/10 Asc Bse 22.74 -0.56 24.37 29.24 211K 250K 22.66
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ALTR 06/02 Put 17.40 -0.14 18.75 17.41 4M 6M 17.82
Target Hit. Took the money off the table as stock hit the target.
BBY 06/12 Put 51.69 +2.66 50.95 48.25 14M 4M 51.75
Buy Not Hit. Bounced on strong volume to hold the 18 day MVA. Will let it bounce to 52 but will need to turn over from there.
BWNG 06/10 Put 9.77 -0.39 10.52 9.65 2.9M 2.8M 9.82
Current. Looks like some more downside but moved the stop down
some. If it starts the session lower Wednesday we will
look @ taking some gain.
CVTX 06/10 Put 14.03 -0.13 14.31 12.85 1.5M 1.6M 14.85
Current.
OXY 06/07 Put 92.10 -4.16 96.65 90.65 7.2M 3.8M 93.05
Current. Big gap down and tanked on very strong volume surge.
PGNX 05/27 Put 21.39 -0.27 21.50 20.00 140K 300K 21.75
Current. Continue the downtrend on low volume. Came off the day's high of 22.10
VSH 06/12 Put 14.16 -0.74 14.58 13.72 3M 1.8M 14.38
Entered today.
WFT 06/10 Put 44.56 -1.50 48.95 45.75 5.6M 3.8M 46.55
Big gap down as stock continues to move down the 10 day MVA on strong volume filling the gap intraday.
X 06/12 Put 56.99 -0.86 57.73 54.05 8.1M 5M 57.68
Entered today. Continue to move down the 10 day MVA on strong volume.
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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