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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: Many
Tuesday night play results:
ECL: Nice break higher on volume.
MRO: Volume was up as it holds the 10 day EMA. Looks ready.
PCAR: Bounced up but volume was still lacking.
WOOF: Ruff. Strong price move and solid volume on the breakout.
New Plays:
Upside:
Play Date: 07/19/2006
CEO (CNOOC--$82.53; +2.49; optionable): Chinese oil and gas
http://biz.yahoo.com/p/c/ceo.html
STATUS: Reverse head and shoulders. Strong volume Wednesday as CEO came off of the 18 day EMA (79.87) that it used to form the bottom of the right shoulder to its 12 week base. It double topped in February and then April, falling into this base. Positive accumulation complemented by surging money flow. Strong base and ready to make the break higher.
Volume: 351.8K Avg Volume: 225.442K
BUY POINT: $82.88 Volume=338K Target=$94.95 Stop=$79.78
POSITION: CEO LQ - Dec. $85c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/ceo.html
Play Date: 07/19/2006
ITG (Investment Technology--$50.69; +2.84; optionable): Investment brokerage. Forecast 8-3-06
BACKGROUND: Last announced a 3:2 split on 11-13-01 at $64.80
http://biz.yahoo.com/p/i/itg.html
STATUS: Cup w/handle. Solid jump in volume to average Wednesday as ITG came off the bottom of the handle to its 8 week base formed after a strong Q1 run that saw ITG hit a new all-time high. It needed a rest and this base is a good one. Positive accumulation and surging money flow is leading higher. Nice low volume test the past week during the market selling on the Middle East war. Looking to move in as ITG continues higher from here on strong volume.
Volume: 741.1K Avg Volume: 726.8K
BUY POINT: $51.25 Volume=1.1M Target=$58.95 Stop=$48.78
POSITION: ITG JJ - Oct. $50c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/itg.html
Play Date: 07/19/2006
NGA (North American Galvanizing--$6.91; +1.16; no options): Hot dip galvanizing, etc.
http://biz.yahoo.com/p/n/nga.html
STATUS: Test breakout. This is a stock that has come out of nowhere and is showing a lot of momentum. NGA broke higher in late June out of an 8 week cup with handle base, surging on strong volume to 7.95 on that breakout move. It fell hard in the selling last week coming back to the 50 day EMA intraday and then rebounding. Strong volume Wednesday as it started back up. Strong money flow and positive 2 to 0 accumulation in the base have set up the run higher. Ready to move in on a continued rebound from here.
Volume: 301.9K Avg Volume: 194.744K
BUY POINT: $7.11 Volume=200K Target=$8.65 Stop=$6.61
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/nga.html
Play Date: 07/19/2006
WYNN (Wynn Resorts--$71.20; +0.86; optionable): Resort and casinos and property
http://biz.yahoo.com/p/w/wynn.html
After Hours: $71.20
STATUS: Double bottom. WYNN ahs formed something of a double bottom the past 10 weeks, the right leg holding above the left last week, bouncing off 67.50 after the selling last week. It bounced this week on good volume, moving up to the 50 day SMA (71.47) Wednesday. It could not make the break Wednesday, but with money flow running higher we expect price to follow it. Can run like the wind when it gets going, and a solid volume break above the 50 day is likely to mean it is going.
Volume: 1.314M Avg Volume: 1.071M
BUY POINT: $72.65 Volume=1.6M Target=$79.90 Stop=$70.50
POSITION: UWY LO - Dec. $75c (45 delta) or UWY IN - Sept. $70c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/wynn.html
Continuing play ready to move:
Cannot stay away from this one.
Play Date: 07/05/2006
VLO (Valero Energy--$64.29; +0.44; optionable): Oil and gas refining
http://biz.yahoo.com/p/v/vlo.html
After Hours: $64.35
STATUS: Double bottom w/handle. Still working on the handle to this 12 week base. Solid. Used the 200 day SMA (57.33) on the lows of the legs as support, nice low volume pullback. Used this base to set up for a new all-time high. Held up well in the recent energy weakness, and that will likely lead to the breakout move.
Volume: 8.279M Avg Volume: 10.086M
BUY POINT: $64.75 Volume=15M Target=$78.50 Stop=$62.45
POSITION: ZPY LN - Dec. $70c (49 delta) &/or Stock
http://www.investmenthouse.com/cs/vlo.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 split
stock recommendation
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