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us stock market, stock recommendation
Begin part 2 of 2
THE PLAYS
Good movers: ANN; BMRN; CRZO; EGOV; FMD; FORR; GILD; SMSI
NEW PLAYS:
Upside plays:
Play Date: 06/15/2006
MRY (Memry Corp.--$2.67; +0.12; no options): Medical instruments
http://biz.yahoo.com/p/m/mry.html
STATUS: Cup w/handle. Volume was up Thursday and so was MRY, moving toward the breakout from a large 11 month base ready to propel MRY to a new 5 year high (a new issue in 2000). Excellent 12 to 6 accumulation in the base (12 up price weeks on rising volume to 6 down price weeks on rising volume) shows plenty of buying to push the breakout and send MRY higher. Excellent money flow complements the accumulation. Ready to move in as it continues the volume move higher.
Volume: 203.8K Avg Volume: 113.466K
BUY POINT: $2.78 Volume=170K Target=$3.55 Stop=$2.59
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/mry.html
Downside plays:
Play Date: 06/15/2006
RTI (RTI Intl. Metal--$54.47; +3.77; optionable): Industrial metals and minerals
http://biz.yahoo.com/p/r/rti.html
After Hours: $53.50
STATUS: Put. RTI is one of those metals that exploded higher in early May in that blow off top after a long solid run higher. It peaked at 80ish and then collapsed. It held the 50 day EMA (58.05) and then collapsed through that as well to start June. It tapped at the 200 day SMA (45.21) on the Tuesday low and then rebounded, coming up to the 10 day EMA (54.79) Thursday. Looking for it to roll over there and drop back again. That move to the target lands us a 40%ish gain. If it continues higher toward the 18 day EMA (57.07) we will let it and then wait for the turn back down.
Volume: 1.385M Avg Volume: 932.229K
BUY POINT: $54.12 Volume=1M Target=$48.00 Stop=$54.95
POSITION: RTI UK - Sept. $55p (-44 delta)
http://www.investmenthouse.com/ct/rti.html
Continuing Plays:
Downside:
Play Date: 06/12/2006
BBY (Best Buy--$51.50; +0.10; optionable): Electronics stores
http://biz.yahoo.com/p/b/bby.html
STATUS: Put. Did not participate in the big market rally at all, showing another doji just below the 18 day EMA (51.65). Not much traction after that one day bounce on the flat screen sales numbers. Looking for the rollover to give us the entry to the next run downside. To recap: BBY broke below the 200 day SMA (49.71) Monday on stronger, above average volume after testing that level last Thursday and recovering. It is in a continuing downtrend below the 18 day EMA after forming a broad top in April and early May and then rolling over hard the second week of May. It has bounced twice off the 200 day, but cannot clear the 18 day EMA. Looking for volume to remain strong as BBY continues back down from this near resistance. A move to the target lands us a 45% gain.
Volume: 6.502M Avg Volume: 3.728M
BUY POINT: $50.95 Volume=4M Target=$48.25 Stop=$51.75
POSITION: BBY SX - July $52.50p (-49 delta)
http://www.investmenthouse.com/ct/bby.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
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http://www.technicaltraders.com/ttr/table.php
You will need your password. If you need help click on this link and our automated system will email it to you immediately once you fill in your email address:
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
ABI 06/14 Test 50 29.98 +0.05 30.12 36.00 1.3M 1.6M 29.21
Buy Not Hit. Tested the 18 day MVA intraday and rallied back on lower below average volume. Still in the pattern.
ACTS 06/14 Test 50 11.00 +0.38 11.11 13.35 110K 416K 10.55
Buy Not Hit. Nice bounce to hold the 18 day MVA on low volume. Will need to see more volume on upside move.
ANN 06/05 Asc Bse 39.82 +0.87 39.87 46.55 1.1M 1.3M 38.48
Current.
AYE 06/10 Asc Bse 36.50 +0.03 37.41 44.65 1.3M 1.4M 36.31
Current.
BMRN 05/20 Dbl btm 13.99 +0.74 13.88 16.60 830K 2M 13.21
Current.
BRLI 06/08 Asc Tri 19.34 +0.27 19.81 23.88 126K 145K 18.65
Current. Tested the 10 day MVA intraday and rallied back on a nice gain on above average volume. Moving up after testing the 18 day MVA
CRZO 06/14 Test 20 30.07 +1.69 28.72 32.00 773K 475K 28.48
EGOV 06/10 Test BO 6.97 +0.12 6.90 8.44 275K 275K 6.74
Current.
FMD 05/22 Test 50 49.68 +1.18 46.14 55.00 674K 1M 48.25
Current.
FORR 06/06 Test BO 27.23 +0.89 26.70 31.94 221K 172K 26.05
Current. Tested the 10 day MVA intraday and rallied back for a great move on excellent volume surge. Meeting some new resistance here as stock continues to trend higher.
FVE 05/17 DB hdl 10.69 +0.09 11.15 13.65 199K 559K 10.77
Current.
GILD 05/31 DB hdl 58.59 +1.65 58.45 69.00 5.8M 7M 56.85
Entered today. Bounced off the 18 day MVA for a nice move on rising, but average volume.
GRMN 06/14 PreAnn 93.65 +3.98 92.05 99.95 2.2M 1.5M 89.65
Entered today. Gapped up at the open for a great move on strong volume.
HCR 05/10 Test BO 46.11 +0.21 46.77 53.40 1.5M 750K 45.60
Current. Tested the 50 day MVA intraday and made a fierce rally back holding the 18 day MVA on stronger above average volume. Looking for stock to continue to rebound.
KNOL 06/07 Cup hdl 9.91 +0.16 10.41 12.50 362K 323K 9.68
Buy Not Issued. Meeting resistance at 10. Came off the day's high of 10.45. Need to see a clear and decisive move.
LH 06/13 Test BO 61.48 -0.01 61.32 71.44 974K 1M 59.67
Current. Pullback showing a tight doji on lower, but strong volume. Still in uptrend.
LNT 06/12 Test BO 33.95 +0.63 34.15 40.00 484K 550K 32.89
Buy Not Hit.
PRFT 06/13 Test 50 12.90 +0.74 13.15 15.75 486K 318K 12.55
Buy Not Hit. Nice rebound on very strong volume surge. Meeting some resistance at 13.
SABA 06/05 Asc Tri 6.27 -0.03 7.02 8.48 66K 175K 6.57
Current.
SMDI 05/24 Test 18 11.84 +1.35 12.12 15.12 663K 677K 11.27
Buy Not Hit. Gapped up at the open and continued to soar for a nice rebound on stronger above average volume. Meeting some resistance at 12.
SMSI 05/24 Asc Bse 14.35 +0.47 13.47 16.30 841K 714K 14.21
Current. Gapped up at the open for a nice gain on lower, but strong volume. Moving up after testing the 50 day MVA.
SVNT 06/12 Rv H&S 5.79 +0.08 5.98 7.22 263K 544K 5.56
Buy Not Hit.
UARM 05/27 Test 50 37.10 +0.10 36.65 43.95 844K 1.4M 35.35
Current. Moving up after testing the 50 day MVA.
XPRSA 06/10 Asc Bse 24.49 +0.99 24.37 29.24 255K 250K 22.90
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
BBY 06/12 Put 51.50 +0.10 50.95 48.25 6.5M 4M 51.75
Buy Not Issued. Did not participate in the rally, showing a doji below the 18 day EMA (51.65). That indicates it is ready
to turn back down once this market momentum exhausts
itself.
BWNG 06/10 Put 10.80 +0.75 10.52 9.65 1.8M 2.8M 9.82
Current. Low volume bounce, still below the 10 day EMA (10.99).
On a failed test of that level we will add to positions.
CVTX 06/10 Put 13.95 -0.08 14.31 12.85 1.6M 1.6M 14.55
Current.
OXY 06/07 Put 97.25 +3.84 96.65 90.65 4.2M 3.8M 93.05
Current. Gapped up with the other energy stocks and moved to
the 50 day EMA (97.31) on lower trade. Needs to fail
here, & if it does looking at more downside positions.
PGNX 05/27 Put 22.64 +0.61 21.50 20.00 228K 300K 21.75
Current. Bounced tapping 23.17 at the intraday high, but could not hold the gain on rising volume. May continue to test up to 23.
VSH 06/12 Put 14.60 +0.46 14.58 13.72 3.2M 1.8M 14.38
Current.
X 06/12 Put 64.00 +4.51 57.73 54.05 7.7M 5M 57.68
Current. Gapped higher and rallied to the 50 day EMA (64.09)
with the metals. Need to see it fail here, and we will
use that as an entry point.
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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