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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good movers: CELG; CONR; CTRP; GRMN
Wednesday night play results:
CTSH: Low volume breather after strong Wednesday move
EZPW: Still setting up
GRMN: Gapped higher, tested, and rebounded on solid trade.
GPN: Still testing the 50 day EMA
IDEV: Showing a low volume doji as it continues working laterally
WFT: Stalled again at the 10 day EMA
New Plays:
Upside:
Play Date: 06/22/2006
IMCL (Imclone--$40.16; +0.41; optionable): Biotechnology
http://biz.yahoo.com/p/i/imcl.html
STATUS: Breakout test. IMCL has come back to the 50 day EMA (38.59) over the course of the past 5 weeks following a strong break higher out of a 10 week cup with handle. Up and down action in the lateral move, but making higher lows over the 50 day. Volume has jumped up this week as it tests that important support. Looking for another volume jump as IMCL breaks hard to the upside to show us the buyers are ready to step back in.
Volume: 1.612M Avg Volume: 1.885M
BUY POINT: $41.75 Volume=2.8M Target=$50.00 Stop=$39.65
POSITION: QCI KE - Nov. $40c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/imcl.html
Play Date: 06/22/2006
SIE (Sierra Health Services--$42.60; -0.68; optionable): Health care plans
http://biz.yahoo.com/p/s/sie.html
STATUS: Double bottom w/handle. We dropped SIE when it cut lower on Tuesday, but Wednesday it jumped right back into the game on a sharp jump in volume. Nice low volume test of that move Thursday, tapping the 10 day EMA on the low. Excellent set up for a breakout from its 15 week base. The past three weeks SIE has faded to test on low volume, forming a nice handle where the last sellers are shaken out. Sitting in good shape due to the generic drugs that will soon be available for it to sell its customers. Nice pattern and ready for a breakout to a new all-time high.
Volume: 481.8K Avg Volume: 653.466K
BUY POINT: $43.88 Volume=800K Target=$52.00 Stop=$41.98
POSITION: SIE LH - Dec. $40c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/sie.html
Play Date: 06/22/2006
XING (Qiao Zing Telephone--$10.64; +0.94; optionable): Chinese telecom products
http://biz.yahoo.com/p/x/xing.html
After Hours: $10.66
STATUS: Double bottom breakout test. XING exploded higher Tuesday on strong earnings, rallying to 11.75 on the high before giving back most of the gain. Sold further Wednesday but the caught itself Thursday, posting a strong gain on rising, above average volume. Nice test, good bounce. Ready to move in as it continues higher.
Volume: 2.787M Avg Volume: 643.46K
BUY POINT: $10.89 Volume=1M Target=$13.25 Stop=$10.13
POSITION: QAE LB - Dec. $10c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/xing.html
New buy point on current position:
Play Date: 06/22/2006
CELG (Celgene--$45.80; +1.41; optionable): Biotechnology
http://biz.yahoo.com/p/c/celg.html
After Hours: $45.85
STATUS: Ascending triangle breakout. Strong volume Wednesday and Thursday, and CELG used that volume to make the breakout from its 11 week base formed above the 50 day EMA (41.35). Excellent break higher and looking to add shares as it continues the move. Expecting a bit of softness early Friday to give us the entry point. Solid leader ready for more, following the relative strength breakout.
Volume: 5.934M Avg Volume: 3.739M
BUY POINT: $46.05 Volume=4M Target=$52.50 Stop=$42.83
POSITION: LQH JI - Oct. $45c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/celg.html
Downside:
Play Date: 06/22/2006
OEF (S&P 100 Index ETF--$57.27; -0.26; optionable)
http://biz.yahoo.com/p/o/oef.html
STATUS: Put. The second leg lower in the selling took OEF below the 200 day SMA (57.69). It rebounded the past two weeks, banging its head up against that resistance level all week long. Tried a move through that level Wednesday and made it . . . for a few minutes. Thursday it didn't try, turning lower from the 18 day EMA (57.54) on a strong shot of above average volume. Money flow is diving. Looking to move in as it continues lower. A move to the target lands us a 46%ish gain.
Volume: 598.1K Avg Volume: 343.109K
BUY POINT: $57.15 Volume=350K Target=$55.65 Stop=$57.65
POSITION: OEF TP - Aug. $58p (-51 delta)
http://www.investmenthouse.com/ci/oef.html
Bonus play entered today via alert:
Play Date: 06/22/2006
CTRP (Ctrip.com International--$50.97; +1.96; optionable): Chinese vacation company
http://biz.yahoo.com/p/c/ctrp.html
STATUS: Ascending base. CTRP broke higher from a 9 week base that formed using the 50 day EMA (46.28) as support. Excellent action taking it to a new all-time high. Still a buy on this move.
Volume: 568.265K Avg Volume: 450.225K
BUY POINT: $50.70 Volume=698K Target=$61.00 Stop=$47.95
POSITION: QCT IJ - Sept. $50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/ctrp.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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stock recommendation
stock investment information
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