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Begin part 3 of 3

THE PLAYS

Good Movers: AEOS; SHOO

Wednesday night play results:
MGI: Continued higher off the 200 day SMA test.
OSIS: Raced up to tap 20 again but faded back. Still solid
TRMB: Tested back tot eh 10 day EMA on low volume
TWGP: Tried the move but volume was lower and it faded back slightly
QSII: Moved higher but no volume yet.

New Plays:

Upside:

Play Date: 08/31/2006
AEM (Agnico-Eagel Mines--$37.75; +2.43; optionable): Gold
http://biz.yahoo.com/p/a/aem.html
STATUS: Cup w/handle. One of the higher rated gold stocks in terms of earnings, and it has formed a nice base as well, a 15 week job formed over the 50 day EMA (34.88). It is coming off the test of the 50 day, showing good volume Tuesday and then again Thursday as AEM benefited from the GG buyout of GLG. That got the whole sector heated up. Looking for a breakout above the handle high at 38 to move in.
Volume: 2.286M Avg Volume: 1.907M
BUY POINT: $38.05 Volume=2.5M Target=$43.95 Stop=$35.94
POSITION: AEM AG - Jan. $35c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/aem.html

Play Date: 08/31/2006
MTW (Manitowoc--$44.20; +1.79; optionable): Farm & construction machinery
http://biz.yahoo.com/p/m/mtw.html
STATUS: Double bottom w/handle. Forming the handle of a 15 week base, coming off the 50 day EMA (41.94) Thursday, heading toward the breakout from its pattern. With the strong earnings from JOYG we could see the sector heat up. MTW is in a better pattern as well with money flow out in front. Need to see some strong volume as it makes the break higher. Can move fast, just what we like at this point.
Volume: 737.6K Avg Volume: 1.176M
BUY POINT: $44.58 Volume=1.2M Target=$52.95 Stop=$42.65
POSITION: MTW LI - Dec. $45c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/mtw.html

Play Date: 08/31/2006
VMSI (Ventana Medical Sys.--$46.64; 0.00; optionable): Medical instruments
http://biz.yahoo.com/p/v/vmsi.html
STATUS: Ascending base. A strong leader in its sector (and a good sector considering the time of year), VMSI is setting up for a break to a new all-time high. Nice 16 week pattern formed making higher lows roughly using the 90 day MA (45.88) as support. It just came off of that level last week and is now making a quick test of the 10 day EMA (46.52); that higher low as a stock pinches off in its pattern typically precedes a breakout move. Strong money flow is complemented by excellent accumulation (6 up price weeks on rising volume to 2 down price weeks on rising volume).
Volume: 159.244K Avg Volume: 232.176K
BUY POINT: $47.68 Volume=348K Target=$54.88 Stop=$45.95
POSITION: UMI LI - Dec. $45c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/vmsi.html

Downside:

Play Date: 08/31/2006
BP (British Petroleum (BP)--$68.05; +0.23; optionable): Major oil
http://biz.yahoo.com/p/b/bp.html
STATUS: Head and shoulders. BP tumbled last week and then bottomed out Tuesday, bouncing back Wednesday and Thursday to test the 10 day EMA (68.54) and the neckline in its 8 week head and shoulders base. Money flow is heading lower. After this test we are looking for BP to continue lower. A move to the target lands a 40%ish gain.
Volume: 5.33M Avg Volume: 3.638M
BUY POINT: $67.93 Volume=3.5M Target=$65.90 Stop=$68.55
POSITION: BP VN - Oct. $70p (-58 delta)
http://www.investmenthouse.com/ci/bp.html

Good Investing!
Jon L. Johnson and your IH Alerts Team

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