stock recommendation, stock option

Begin part 3 of 3

THE PLAYS

Good movers: CELG; LH; UARM; SMSI

Tuesday night play results:
DIOD: Gapped higher but closed off the high. Looks like a test first, and that is fine.
PRFT: Fell through the 50 day EMA.
SIE: Still working laterally over the 10 day EMA
WCG: Fell back to the 18 day EMA as it continues to work laterally toward a new high.

New Plays:

Upside:

Play Date: 06/14/2006
ABI (Applera Corp-Applied Biosystems--$29.93; +1.09; optionable): Systems, etc. for genomics research
http://biz.yahoo.com/p/a/abi.html
STATUS: Test 50 day EMA. ABI broke out from an 18 week reverse head and shoulders base in late May, gapping higher on the move. It rallied to 31 and then tested this month, coming back to the 50 day EMA (28.78) and filling the gap as it did. Volume exploded Wednesday as ABI jumped off that support level, making a higher low. Money flow is leading higher and relative strength broke out on the move. Looks ready for a new 4.5 year high. Nice market leader that held its ground and is ready to continue higher.
Volume: 3.247M Avg Volume: 1.315M
BUY POINT: $30.12 Volume=1.6M Target=$36.00 Stop=$29.21
POSITION: ABI LF - Dec. $30c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/abi.html

Play Date: 06/14/2006
ACTS (Actions Semiconductor--$10.62; +0.09; no options): Chinese system-on-a-chip products
http://biz.yahoo.com/p/a/acts.html
STATUS: Test 50 day EMA. A new issue in November 2005, ACTS moved laterally through mid-March. It broke sharply higher and rallied through late May, reaching 12 on the high. It spent the past four weeks testing the 50 day EMA (10.63), showing a big doji at that level Wednesday, reaching below that support and rebounding. Strong money flow. Looking for a volume move off of this support; volume has been low and below average for a month. About time.
Volume: 133.923K Avg Volume: 277.56K
BUY POINT: $11.11 Volume=416K Target=$13.35 Stop=$10.55
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/acts.html

Play Date: 06/14/2006
BA (Boeing--$82.01; +5.03; optionable): Aerospace, etc.
http://biz.yahoo.com/p/b/ba.html
After Hours: $82.65
STATUS: Gapped higher Wednesday as Airbus announced more woes as BA continues to beat that company about the head and shoulders with its new Dreamliner. It surged back up to the 50 day EMA (81.97) on tremendous volume, closing at that level. Lots of momentum and we are looking to capture some of that on a move through this resistance level on strong volume.
Volume: 9.859M Avg Volume: 3.832M
BUY POINT: $82.42 Volume=5.5M Target=$92.75 Stop=$79.88
POSITION: BA KP - Nov. $80c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/ba.html

Play Date: 06/14/2006
GRMN (Garmin Ltd.--$89.67; +6.11; optionable): GPS devices
http://biz.yahoo.com/p/g/grmn.html
After Hours: $90.00
STATUS: GRMN led the move into May, gapped higher early that month, but then topped out at 100. It then started to do the wiggle move, bouncing up and down in the selling between 85 and 98. Tuesday it crashed lower, falling through the 50 day EMA (88.25). Wednesday it was right back in the game, rebounding back through that level on strong trade. Looking to step in for a momentum move as GRMN continues this recovery. For now looking at a trade, but will let it run if it will.
Volume: 2.686M Avg Volume: 1.164M
BUY POINT: $90.88 Volume=1.5M Target=$98.00 Stop=$88.12
POSITION: GQR JR - Oct. $90c (55 delta)
http://www.investmenthouse.com/ci/grmn.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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