|
|
us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: BRLI; CELG; GRMN; JCOM; KNOT; LH; MAN; NTGR; ODFL; SMDI
Tuesday night play results:
MAN: Nice volume move higher.
EME: Moved up to the 18 day EMA, the test in this move lower.
WFT: Tried to bounce back up but stalled and closed below the 10 day EMA
IDEV: Tried the move but no volume Wednesday
SMDI: Solid jump higher
AGE: Rallied in sympathy with the MS earnings
FRK: Trying to bounce but tapped at the 10 day EMA and gave back some gain.
New Plays:
Upside:
Play Date: 06/21/2006
CTSH (Cognizant Technology--$64.91; +2.43; optionable): Custom IT software
http://biz.yahoo.com/p/c/ctsh.html
After Hours: $65.10
STATUS: Double bottom w/handle. A market leader that looks to be back on track, jumping Wednesday out of a 7 week base on rising, above average volume. Excellent action that needed a break after a strong Q1 run. Used the market selling to set up the new base and is making the breakout. Ready to move in on the continued break higher and then again on the breakout test.
Volume: 2.448M Avg Volume: 1.557M
BUY POINT: $65.26 Volume=1.6M Target=$75.00 Stop=$63.00
POSITION: UPU JM - Oct. $65c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/ctsh.html
Play Date: 06/21/2006
EZPW (Ezcorp--$32.17; +1.39; optionable): Pawn shops
http://biz.yahoo.com/p/e/ezpw.html
After Hours: $32.24
STATUS: Double bottom w/handle. Another leader that enjoyed a strong Q1 run and then fell into basing action as the market sold off. It set up this 9 week pattern around the 50 day EMA (30.52), using that support to form the handle. Good price jump Wednesday; volume was up but still below average. Need to see that volume jump as EZPW moves through the buy point.
Volume: 298.483K Avg Volume: 343.662K
BUY POINT: $33.05 Volume=515K Target=$39.95 Stop=$31.95
POSITION: ULP LG - Dec. $35c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/ezpw.html
New buy point on current position:
Play Date: 06/21/2006
GRMN (Garmin Ltd.--$96.87; +3.65; optionable): GPS
http://biz.yahoo.com/p/g/grmn.html
After Hours: $96.87
STATUS: Ascending base. GRMN is showing good action as it looks to make the breakout from its 7 week trading range above the 50 day EMA (89.34). Strong above average volume Wednesday as it broke higher off the 18 day EMA (92.35). Money flow is moving higher ahead of price and relative strength made the breakout ahead of the stock; bullish. Looks as if GRMN is going to move higher and establish a new upside range.
Volume: 1.91M Avg Volume: 1.212M
BUY POINT: $97.35 Volume=1.3M Target=$111.95 Stop=$92.22
POSITION: GQR JT - Oct. $100c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/grmn.html
Continuing plays ready to move:
Upside:
Play Date: 06/15/2006
GPN (Global Payments--$48.10; +0.77; optionable): Electronic transaction processing
http://biz.yahoo.com/p/g/gpn.html
STATUS: Test 50 day EMA. After the strong jump off the 200 day SMA (45.88) GPN came back to test, holding the 50 day EMA (47.02). Lower volume on the test, making a higher low at support; not bad action. Wednesday GPN jumped off the 50 day on rising volume, though still below average. Looking for some more trade as it continues higher off this level. Nice leader that had a great Q4 through Q1 run and used the market selling to consolidate, build a new base, and now is ready to break higher.
Volume: 543.1K Avg Volume: 736.972K
BUY POINT: $48.25 Volume=1.1M Target=$55.65 Stop=$46.40
POSITION: GPN KJ - Nov. $50c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/gpn.html
Play Date: 06/17/2006
IDEV (Indevus Pharmaceuticals--$5.28; -0.08; optionable): Biotech
http://biz.yahoo.com/p/i/idev.html
STATUS: Reverse head and shoulders. Tried the move Wednesday but could not get the volume it showed last week or on Tuesday. Still looks quite nice and ready to make its move. To recap: Formed this pattern at the bottom of its 15 week cup base; stocks often form this pattern at the lows. Strong money flow continues to surge higher ahead of price.
Volume: 356.233K Avg Volume: 427.946K
BUY POINT: $5.41 Volume=450K Target=$6.55 Stop=$5.06
POSITION: QUF LA - Dec. $5c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/idev.html
Downside:
Play Date: 06/20/2006
WFT (Weatherford International--$47.81; +1.43; optionable): Oil and gas service company
http://biz.yahoo.com/p/w/wft.html
STATUS: Put. Tried to bounce Wednesday, moving up to tap toward the 18 day EMA (49.07) but then faded back to close below the 10 day EMA (48.07). Trying to make a higher low, but struggling to move over the near term resistance. Looking for a solid volume turn lower to move in. To recap: Low volume top in early May. Fell to the 50 day EMA (49.68), held for three weeks then folded a week back. Low volume bounce the past week that could only get to the 10 day EMA on the rebound. Starting to backslide Tuesday, and looking for more to the downside. A move to the target lands us a 43%ish gain.
Volume: 3.232M Avg Volume: 3.798M
BUY POINT: $46.18 Volume=3.8M Target=$43.05 Stop=$46.88
POSITION: WFT TI - Aug. $45p (-38 delta)
http://www.investmenthouse.com/ci/wft.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.
|
us stock market
trade stock
|
