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stock recommendation, stock pick
Begin part 3 of 3
THE PLAYS
Good movers: ININ; LMNA; ZUMZ
Weekend play results:
ABAX: Still working on the nice handle
ALJ: Held steady on lower trade
IWS: Still working on the nice handle
LEAP: Ditto
ZUMZ: Nice gap higher
IDEV: Faded back to the 10 day EMA on low volume
New Plays:
Upside:
Play Date: 07/10/2006
CSH (Cash America Intl.--$33.59; +2.78; no options): Pawn shops
http://biz.yahoo.com/p/c/csh.html
After Hours: $33.75
STATUS: Cup w/handle. Kept watching CSH and now it has formed up better and making its move. Nice gap higher Monday as CSH started the breakout from an 11 week base formed around the 50 day EMA (31.09), using that level to set up the move to a new all-time high. Solid 4 to 2 accumulation in the base (4 up price weeks on rising volume to 2 down price weeks on rising volume) shows plenty of buying to give the stock a firm foundation. Relative strength broke out on the move, a good corroboration of the price break higher. Looking to pick up positions on a continued move higher and then again after its first test. Strong fundamentals to go with its pattern.
Volume: 665.6K Avg Volume: 255.278K
BUY POINT: $33.75 Volume=300K Target=$40.50 Stop=$31.65
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/csh.html
Play Date: 07/10/2006
NOIZ (Micronetics--$16.71; -0.25; no options): Wireless components and test equipment
http://biz.yahoo.com/p/n/noiz.html
STATUS: Cup. NOIZ is working laterally in a tight range the past week on low volume, basically forming a handle to its 15 week base. Nice consolidation of a good Q1 move, and this lateral move is setting up the next leg higher. Like the play as it is coming off a nice rounded bottom and can give us a nice gain without even breaking to a new high.
Volume: 73.918K Avg Volume: 196.306K
BUY POINT: $17.65 Volume=294K Target=$23.50 Stop=$16.41
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/noiz.html
Play Date: 07/10/2006
OII (Oceaneering Intl.--$42.17; -0.91; optionable): Oil and gas drilling
http://biz.yahoo.com/p/o/oii.html
STATUS: Test 18 day EMA. OII broke out from a 6 week ascending base in late June, rallying to 47.50 on the move. It faded the past week, testing that move and holding the 18 day EMA (41.87) on the Monday close, showing a nice tight hammer doji at that level. After a pullback, particularly after a breakout and test, that often indicates the test is over and the next move higher is ready to start. Looks solid.
Volume: 1.664M Avg Volume: 1.371M
BUY POINT: $43.31 Volume=1.7M Target=$5197.00 Stop=$41.65
POSITION: OII JV - Oct. $42.50c (55 delta) &/or Stock
http://www.investmenthouse.com/cd/oii.html
New buy point on current position:
Play Date: 07/10/2006
EYE (Advanced Medical Optics--$50.25; 0.00; optionable): Corrective vision lasers
http://biz.yahoo.com/p/e/eye.html
STATUS: Breakout test. After a nice surge higher to end June, EYE is testing back, showing a nice tight doji Monday on low volume as it tests and sets up the next run higher. Solid break from a 10 week base formed using the 50 day EMA (47.87) as support. Strong money flow continues to lead the way higher. Nice break to a new high and eyeing another one after this test. Solid.
Volume: 807K Avg Volume: 1.303M
BUY POINT: $50.57 Volume=1.4M Target=$56.95 Stop=$49.79
POSITION: EYE JJ - Oct. $50c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/eye.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CCJ, CELG, FLR, GME, MGPI, MRVL, NVDA, SGMS, WM
AKAM: Dumped to the 50 day EMA on stronger volume in the tech selling. Needs to put a move together here up off of this support.
CCJ: Nice handle continues to form over the 50 day EMA.
FLR: Nice doji at the 18 day EMA has set up the handle and the move higher.
GME: Falling back toward the June low at 36
MRVL: Continuing back down on rising volume.
NVDA: Could not hold the June low as the next leg lower continues.
WM: Next volume break higher is a buy.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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 pick
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