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stock recommendation, stock market recommendation
Begin part 3 of 3
THE PLAYS
Good movers: ALJ; CHL; BOT; CRAY; DIA; ECL; FTO; ININ; NGA; NOVN
Weekend play results:
CHL: Nice break higher on volume.
ININ: Continued the strong move higher
MDRX: Moved higher on rising trade, but not the breakaway move yet
AW: Bounced up toward the 200 day on continued below average volume. Still looks ready to turn lower.
FARO: No volume as FARO bounced to test the 50 day EMA.
New Plays:
Upside:
Play Date: 07/24/2006
AMX (America Movil--$35.05; +1.50; optionable): Wireless telecom
http://biz.yahoo.com/p/a/amx.html
Earnings: 7-26-06
After Hours: $35.40
STATUS: Reverse head and shoulders. Strong volume gallop higher Wednesday, then a modest pullback to end the week, holding the 50 day EMA (33.41). Volume turned back up Monday on rising trade, moving toward the breakout from a 10 week base. Strong fundamentals. Looking for volume to jump up as AMX pushes past resistance in the base. Solid run in all of 2005, AMX needed a base to consolidate, and this base is getting ready for another run.
Volume: 4.59M Avg Volume: 5.266M
BUY POINT: $35.72 Volume=6.5M Target=$42.85 Stop=$33.57
POSITION: AMX KG - Nov. $35c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/amx.html
Play Date: 07/24/2006
BID (Sothebys--$28.68; +1.27; optionable): Auction house
http://biz.yahoo.com/p/b/bid.html
Earnings: 8-2-06
STATUS: Cup. After forming something of a handle all July, i.e. a lateral move along the 18 day EMA (26.42), BID received a few bids and that shot it higher Monday, gapping higher on continued above average volume. It is clearing some resistance at 28 in the pattern, gapping on volume. Looking to step in as it continues higher on this break.
Volume: 1.123M Avg Volume: 899.995K
BUY POINT: $28.84 Volume=900K Target=$34.65 Stop=$26.82
POSITION: BID JF - Oct. $30c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/bid.html
Play Date: 07/24/2006
BMRN (Biomarin Pharmaceuticals--$14.40; +0.26; optionable): Biotechnology
http://biz.yahoo.com/p/b/bmrn.html
Earnings: 8-2-06
After Hours: $14.39
STATUS: Cup w/handle. BMRN broke higher in early July on strong, above average volume. It could not make the breakaway from its 14 week base, and faded back to the 50 day EMA (13.90) during the market selling. The pullback was orderly, however, on low volume until the Friday reach lower and the rebound to close positive. Outstanding 6 to 0 accumulation in the base shows all buying. It is ready to surge after this test; just wan tot see some volume as it goes.
Volume: 386.704K Avg Volume: 909.602K
BUY POINT: $15.04 Volume=1M Target=$18.00 Stop=$13.99
POSITION: NUR JC - Oct. $15c (50 delta) &/or Stock
http://www.investmenthouse.com/cd/bmrn.html
New buy on a current position:
Play Date: 07/24/2006
GRMN (Garmin Ltd.--$100.19; +4.84; optionable): GPS devices
http://biz.yahoo.com/p/g/grmn.html
Earnings: 8-2-06
After Hours: $100.02
STATUS: Test 50 day EMA. Volume kicked up Friday as GRMN tested and held the 50 day EMA (95.76). Monday it jumped sharply as volume moved higher as well, up to average. Heading for the mid-July interim peak at 102.35. Want to see even more volume as it continues the through that point.
Volume: 1.556M Avg Volume: 1.527M
BUY POINT: $102.50 Volume=1.4M Target=$118.00 Stop=$99.00
POSITION: GQR JA - Oct. $105c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/grmn.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: Rebounding but on low volume Monday. Key test at 32 coming up.
CELG: Nice volume, nice recovery.
GME: Trying to reload and take on the 200 day (39.49) and the 50 day EMA (40.24) once more.
NVDA: Suddenly looking much better as it is considered in contention for a takeover. Strong volume Monday as NVDA gapped higher after the gap lower Friday. Gap down, gap up. Gap happy similar to the market.
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 market recommendation
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