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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: ALSK; BMRN; ECL; GLBL; LMNX; MOLX; NOVN; NVDA; PRXL; SVNT
Monday night play results:
IIG: Nope. Dove lower on volume
MW: Started higher on stronger, above average volume
MOLX: Nice surge on strong volume
IDTI: Moved higher but very low trade.
ASMI: Almost there
BRCM: Volume was up. Looks ready, but we have been waiting awhile
New Plays:
Upside:
Play Date: 08/29/2006
EBAY (Ebay--$27.17; +1.38; optionable): Internet auctions
http://biz.yahoo.com/p/e/ebay.html
STATUS: Test 50 day EMA. Taking another look at EBAY as it sets back up at the 50 day EMA (26.88) once more after it broke its most recent downtrend from April, moved up through the 50 day EMA, and now is testing. Tuesday it broke higher on the best volume in two weeks. Money flow has turned up and is leading EBAY higher as EBAY moves back through the 50 day. This is a trade higher and we are going to ride it for what it will give, get out, and then see if it can hold the move and set up for another run.
Volume: 26.723M Avg Volume: 19.5M
BUY POINT: $27.48 Volume=20M Target=$32.45 Stop=$25.95
POSITION: QXB AY - Jan. $27.50c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/ebay.html
Play Date: 08/29/2006
PQ (Petroquest Energy--$12.51; +0.65; optionable): Independent oil and gas
http://biz.yahoo.com/p/p/pq.html
STATUS: Ascending base. Strong Tuesday as PQ jumped through resistance at 12 and 12.40, starting the breakout from its 18 week base sporting solid accumulation. While many energy stocks have struggled, we are seeing groups of them setting up nice patterns and putting together these types of moves. Looking to take some positions as it moves through the buy point and then more on the test.
Volume: 857.6K Avg Volume: 425.591K
BUY POINT: $12.68 Volume=450K Target=$15.00 Stop=$11.95
POSITION: PQ AV - Jan. $12.50c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/pq.html
Play Date: 08/29/2006
STXS (Stereotaxis--$10.99; +0.29; optionable): Medical appliances
http://biz.yahoo.com/p/s/stxs.html
STATUS: Test 200 day SMA. STXS is in a 7.5 month cup base, rallying off a higher low in mid-August and surging through the 200 day SMA (10.44) on strong volume. It spent last week testing the move, coming back to tap at that support. Monday it bounced on strong, above average volume, coming off the support nicely. Money flow is flying higher ahead of price and STXS looks ready to follow it with a nice quick upside move.
Volume: 466.3K Avg Volume: 310K
BUY POINT: $11.21 Volume=425K Target=$13.45 Stop=$10.48
POSITION: UQS LB - Dec. $10c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/stxs.html
Downside:
Play Date: 08/29/2006
CBK (Christopher & Banks--$25.42; -0.24; optionable): Apparel stores
http://biz.yahoo.com/p/c/cbk.html
STATUS: Put. CBK formed a broad top June through mid-August, then broke sharply lower Thursday on a strong shot of volume, breaking through the 90 day MA (27.23) that had propped it up in July and early August. Modest bounce on low volume Monday then a turn back down modestly Tuesday on a strong shot of volume. Looks ready to crash lower once more. A move to the target lands us a 40%ish gain.
Volume: 746.4K Avg Volume: 515.943K
BUY POINT: $25.28 Volume=515K Target=$23.65 Stop=$25.69
POSITION: CBK VE - Oct. $25p (-38 delta)
http://www.investmenthouse.com/cd/cbk.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
AAPL: Sold again on the battery and iTunes competition worries, but bounced off 65 and closed near the 200 day SMA on rising trade.
CELG: Jury is still out, but it remains below the 200 day SMA, showing a higher volume doji Tuesday. It is definitely in a show me position.
FLR: Trying to make a stand at the 200 day SMA, but it has been trying to stand for a long time now.
NVDA: Showing very good strength as it continues its breakout. Would love another strong session to take it near 30.
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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trade stock
stock recommendation
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