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Begin part 3 of 3
THE PLAYS
Good movers: CSH; EYE; GLD; GRMN; LEAP; LTBG; OII
Monday night play results:
CSH: Another strong move higher.
NOIZ: Tested back to the 18 day EMA and recovered to the 10 day EMA on the close. Not the best action but we will continue to watch it.
OII: Nice break higher
EYE: Super break higher on strong volume.
New Plays:
Upside:
Play Date: 07/11/2006
ATML (Atmel--$5.26; +0.20; optionable): Semiconductors
http://biz.yahoo.com/p/a/atml.html
After Hours: $5.27
STATUS: Double bottom w/handle. It may not be a long term relationship, but this is a nice 9 week pattern formed around the 50 day EMA (4.91) and it shows that not all chips are in the dog pound. Positive accumulation and surging money flow go hand in hand setting ATML for a breakout and run higher. Volume was up to average Tuesday as it tested the 50 day and rebounded for a gain. With chips recovering overall after a long downtrend, it looks ready to move higher.
Volume: 10.56M Avg Volume: 10.151M
BUY POINT: $5.42 Volume=15M Target=$6.50 Stop=$5.04
POSITION: AQT KA - Nov. $5c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/atml.html
Play Date: 07/11/2006
ITG (Investment Technology--$51.00; +1.85; optionable): Brokerage
http://biz.yahoo.com/p/i/itg.html
STATUS: Cup w/handle. Solid 8 week base consolidated a nice 10 month run higher, and now ITG is starting up once more, moving over the handle to the base. Volume was up but could use more as it continues and follows the surging money flow higher toward a new all-time high.
Volume: 732.9K Avg Volume: 707.37K
BUY POINT: $51.38 Volume=900K Target=$59.00 Stop=$48.48
POSITION: ITG JJ - Oct. $50c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/itg.html
Play Date: 07/11/2006
SVNT (Savient Pharma--$5.83; +0.22; optionable): Biotechnology
http://biz.yahoo.com/p/s/svnt.html
STATUS: Ascending base. Good volume Tuesday as SVNT moved higher and toward the breakout from its 11 week base that is setting SVNT up for a break to a 4 year high. Positive accumulation and money flow is leading higher. This sector has experienced solid buying the past month, and SVNT is setting up for the breakout.
Volume: 364.037K Avg Volume: 350.025K
BUY POINT: $5.97 Volume=500K Target=$7.25 Stop=$5.55
POSITION: UVP LA - Dec. $5c (70 delta) &/or Stock
http://www.investmenthouse.com/cd/svnt.html
Continuing play ready to move:
Play Date: 07/05/2006
VLO (Valero Energy--$66.12; +0.73; optionable): Oil and gas refining
http://biz.yahoo.com/p/v/vlo.html
After Hours: $66.15
STATUS: Double bottom w/handle. Continues working on the handle on below average volume, holding above near support at the 10 day EMA (65.04) in an orderly lateral move, shaking out with lower intraday dips. Setting up well. To recap: Nice 10 week base has formed, just starting to work on the handle the past three sessions. A big winner in 2005, it needed a blow and this base is giving it just that, coming back to the 200 day SMA (57.10) on the lows of the two legs, showing that the big institutions stepped in to support it. It looks as if it could take a couple more days to complete the handle, but we want to be ready for when it makes the breakout move.
Volume: 6.398M Avg Volume: 10.158M
BUY POINT: $67.21 Volume=15M Target=$79.00 Stop=$64.00
POSITION: ZPY LN - Dec. $70c (49 delta) &/or Stock
http://www.investmenthouse.com/cd/vlo.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: Doji after undercutting the 50 day EMA. Lick log time
FLR: Nice hold at the 18 day EMA again. Now it is getting right. Strong break higher is an add-to point.
MGPI: Looking much better and ready to start higher to form the right side of the bas. On stronger trade upside we can accumulate some shares.
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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