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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good movers: CONR; CTSH; EXPW; GPN; KNOT; ODFL; SMSI; XING; SMH
Thursday night play results:
IMCL: Took the day off but holding well at the 18 day EMA
SIE: Low volume modest session still ready to make the breakout.
XING: Suring Friday on strong volume
CELG: Surged but then faded late to close flat
OEF: Gapped lower.
New Plays:
Upside:
Play Date: 06/24/2006
CHRW (C.H. Robinson Worldwide--$48.76; +0.83; optionable): Air delivery, freight
http://biz.yahoo.com/p/c/chrw.html
After Hours: $48.71
STATUS: Double bottom w/handle. Hot sector in the market, one of the early returning leaders. CHRW is a perennial leader, enjoying a strong 2005 and Q1 2006 run that required some rest. It fell into the current 10 week base to begin April, then started to recover the past two weeks, building the right side of the base. To end last week it started to move laterally on lower volume, starting to form the handle to the base. Nice volume Wednesday as it jumped, and after a day or two more of lateral movement to set the handle we are looking for another volume jump to take it out of this base and on toward a new all-time high once more. Excellent pattern with excellent growth in sales and earnings.
Volume: 802.199K Avg Volume: 1.309M
BUY POINT: $49.48 Volume=2M Target=$59.38 Stop=$46.75
POSITION: CJQ KJ - Nov. $50c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/chrw.html
Play Date: 06/24/2006
CTXS (Citrix Systems--$37.48; +0.37; optionable): On-demand access software, etc.
http://biz.yahoo.com/p/c/ctxs.html
STATUS: Cup. Made us some solid money in Q1 and is setting up to do so again. Still in the early stages, but CTXS has stemmed the 5 weeks of selling, reversing 7 sessions back on strong trade. It moved laterally last week below the 50 day EMA (37.53) on low volume, bumping its head against that resistance, taking its measure. Looks ready to make the move through this resistance and continue building its base. Nice thing is, we can move in on a break above the 50 day and enjoy a nice gain as it works on the base and then move in again as it makes the breakout. Solid leader that took a needed rest.
Volume: 1.795M Avg Volume: 2.738M
BUY POINT: $38.22 Volume=3.6M Target=$45.88 Stop=$36.55
POSITION: XSQ LH - Dec. $40c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/ctxs.html
Play Date: 06/24/2006
EEFT (Euronet Worldwide--$35.06; +0.57; optionable): Electronic transaction processing services
http://biz.yahoo.com/p/e/eeft.html
STATUS: Cup. Similar to other recovering leaders, EEFT is in the process of forming up a new base, coming off 11 weeks of trending lower with a nice price and volume bounce a week back. It continued higher this week, cracking back up through the 50 day EMA (34.47) on Wednesday and adding to that gain Friday. Still working on the pattern, but it has reversed its trend and is setting up a reverse head and shoulders at the bottom of the pattern. Lots of positives building. A market leader with excellent fundamentals growth to go along with this nice pattern forming up.
Volume: 217.578K Avg Volume: 374.168K
BUY POINT: $35.45 Volume=500K Target=$42.55 Stop=$33.89
POSITION: HSQ KG - Nov. $35c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/eeft.html
Play Date: 06/24/2006
FORM (Formfactor--$38.67; -0.69; optionable): Semiconductors
http://biz.yahoo.com/p/f/form.html
After Hours: $38.75
STATUS: Double bottom. The leader in its sector and a leader in the market, FORM was not immune to the selling, but it used it to work on the current 9 week base, coming off support at 36 the past week, forming the second leg of the double bottom. All of this is occurring near the old high at 45; no sell off, just a routine test base for a market leader. Looking for some volume this week to rip it through the 50 day SMA (39.79) and give us an entry point on this strong stock.
Volume: 454.252K Avg Volume: 707.946K
BUY POINT: $39.85 Volume=1.1M Target=$47.85 Stop=$38.22
POSITION: AFU JG - Oct. $40c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/form.html
Play Date: 06/24/2006
ININ (Interactive Intelligence--$12.60; +0.14; no options): Software for contact center automation, self-service automation, etc.
http://biz.yahoo.com/p/i/inin.html
After Hours: $12.54
STATUS: Breakout test. ININ broke sharply higher last week on strong volume, clearing a 7 week double bottom formed right on top of the 50 day EMA (10.39). Positive accumulation in the base and surging money flow complement one another, setting up the further move higher. Relative strength broke out with the price, a very good corroboration of the breakout move. Nice test Wednesday through Friday with volume jumping back up Friday as ININ held its ground and prepares to continue the breakout move. Another market leader ready to move higher.
Volume: 232.178K Avg Volume: 95.58K
BUY POINT: $12.88 Volume=188K Target=$15.50 Stop=$11.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/inin.html
Play Date: 06/24/2006
JCP (J.C. Penney--$67.50; -0.18; optionable): Department stores. Forecast to announce a split in early August.
BACKGROUND: No splits in JCP's history
http://biz.yahoo.com/p/j/jcp.html
After Hours: $68.14
STATUS: Test breakout. Strong break higher Wednesday, moving out of a 7 week double bottom with handle base. This is the 'flying W' type, i.e. where the second leg does not undercut the prior leg lower. Spent Thursday and Friday moving laterally on lower volume, taking a breather while the market came back some to end the week. It is set to move higher and we are ready to move into this leader as it does. It is nearing an all-time high at 78.75. It doesn't have to make it that far to give us a nice gain.
Volume: 1.449M Avg Volume: 2.278M
BUY POINT: $68.05 Volume=2.4M Target=$78.45 Stop=$65.88
POSITION: JCP KU - Nov. $67.50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/jcp.html
New buy point on current position:
Play Date: 06/24/2006
LIFC (Lifecell--$29.10; +0.67; optionable): Biotechnology
http://biz.yahoo.com/p/l/lifc.html
STATUS: Test breakout. A leader in its sector and indeed the market, LIFC is setting up for our next buy point. Last week LIFC broke higher out of a 7 week double bottom formed above the 50 day EMA (26.29), rallying to 30.96) on the high before coming back to test the 10 day EMA (27.93) on the Thursday and Friday intraday lows, rebounding off that level to close. Money flow is leading higher. Relative strength broke out with the stock, and it is not giving up ground even as LIFC makes a modest test.
Volume: 521.226K Avg Volume: 664.134K
BUY POINT: $29.77 Volume=675K Target=$35.75 Stop=$28.00
POSITION: QKL LF - Dec. $30c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/lifc.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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us stock market
stock split
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