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stock recommendation, stock market today
Begin part 2 of 2
THE PLAYS
Good movers: ABMD; WYNN; CBK
NEW PLAYS:
Upside plays:
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/ct/mtw.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/ct/bp.html
CONTINUING PLAY TABLE:
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http://www.investmenthouse.com/rescue/rescue.php3
LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ABAX 08/02 Asc Bse 24.02 -0.38 23.30 27.75 137K 637K 23.33
Current. Ease back on low volume. Typical pullback.
ABMD 08/30 Asc Tri 14.92 +0.34 14.68 17.65 209K 125K 13.95
Continued the move higher on solid trade.
AMX 07/24 Rv H&S 37.31 -1.41 36.12 43.00 3.4M 6.5M 37.46
Trailing Stop. Experienced technical difficulty and we took the rest off the table to let it set up again.
APH 08/14 DB hdl 57.47 -0.49 58.95 67.00 471K 800K 57.55
Exited. Maybe a shakeout, but with the higher volume and move thru the 18 day EMA we were not taking chances.
BRCM 08/21 Test 50 29.39 -0.73 29.54 36.00 14M 20M 28.78
Current. Pullback on lower below average volume. Still in good shape.
BRKS 08/21 Test 20 13.90 -0.24 14.12 17.50 690K 900K 13.33
Buy Not Hit.
COHR 08/22 DB hdl 36.26 -0.10 36.74 43.00 205K 350K 35.15
Buy Not Hit. Pullback on low volume. Still forming the handle.
DRIV 08/24 Test BO 48.54 -0.58 47.86 54.75 699K 1.2M 47.45
Current. Gapped up at the open, but gave it back on low volume. Moving up after testing the 18 day MVA.
DRIV 08/05 DB hdl 48.54 -0.58 45.72 57.50 699K 1.2M 47.45
Current.
FORM 08/19 Rv H&S 48.30 -1.15 46.55 55.00 1.1M 1.3M 48.12
Trailing Stop. Will let it test the break higher & then move in as
it comes off near the 10 day EMA (46.41).
FSL 08/10 Test 50 30.70 -0.05 29.70 33.95 1.9M 2.5M 29.95
Current. Pullback on rising volume showing a doji. Doji may indicate stock is ready for next leg up.
GILD 07/12 Cup hdl 63.40 -0.06 63.87 74.95 2.4M 7M 62.78
Current. Pullback testing the 18 day MVA intraday and rallied back to hold the 10 day MVA on low volume. Should be ready to rebound from here.
HITT 08/22 Test BO 45.18 -0.49 41.05 47.95 351K 400K 44.32
Current. Gapped higher and faded back on lower volume. Pretty normal action after a good run this week from a good leader.
HITT 08/14 Asc Bse 45.18 -0.49 38.57 44.95 351K 400K 44.88
HLEX 08/26 Cup 30.73 +0.18 30.46 36.00 148K 300K 29.45
Current. Gapped up at the open showing a tight doji on low volume. Continue to trend higher.
HMSY 07/22 Asc Bse 14.49 +0.09 11.85 13.85 698K 225K 13.85
Current. Continue with the uptrend on strong volume surge. May be ready take a breather
IDXX 08/28 BO 92.01 +0.42 92.24 99.00 135K 155K 90.22
Current. Gapped down at the open and rallied back on low volume. Continue with uptrend.
INFA 08/26 Rv H&S 14.64 -0.09 14.71 16.95 924K 2M 13.68
Buy Not Hit.
LUFK 08/09 PreAnn 63.00 -0.57 63.95 76.00 79K 225K 61.39
Buy Not Issued. Ease back holding just above the 18 day MVA on low volume. Testing the breakout. Should be ready to rebound off the 18 day MVA (62.80)
MGI 08/30 Dbl btm 31.40 +0.20 31.39 36.00 467K 730K 30.69
Entered today. Moving up after testing the 200 day MVA on low volume.
MKSI 08/30 Rv H&S 20.89 -0.10 21.32 24.50 137K 450K 20.29
Buy Not Hit.
MOLX 08/28 Cup hdl 36.47 -0.69 36.72 40.95 765K 550K 36.25
Current. Pullback on stronger above average volume. Testing the breakout. May test back to 10 day MVA (36)
MOLX 08/10 Test 50 36.47 -0.69 34.72 40.95 765K 625K 36.44
Current.
MVSN 08/28 DB hdl 23.28 -0.43 23.65 26.75 438K 990K 22.48
Buy Not Issued.
NGPS 08/12 Test BO 44.06 -1.33 41.48 48.88 293K 190K 44.45
Current. Pullback tapping 43.15 at the intraday low and rallied back holding above the 18 day MVA on very strong volume surge. Looking for a rebound off the 18 day MVA (43.50)
NITE 07/29 Cup hdl 17.46 +0.24 16.68 19.98 1.7M 2M 16.77
Current. Continue with the uptrend on stronger above average volume. Came off the day's high of 17.74
NVDA 08/23 Test BO 29.11 -0.11 26.58 31.00 8.5M 10M 28.32
Current. Pullback tapping 28.48 at the intraday low and rallied back on low volume. Still in uptrend.
NVDA 08/08 Test 20 29.11 -0.11 25.45 31.00 8.5M 12M 28.32
Current.
NVLS 08/23 Rv H&S 27.92 +0.17 27.15 30.92 4.3M 2.9M 27.00
Current.
PETD 08/22 Cup hdl 42.70 +0.49 42.81 53.95 75K 182K 42.38
Exited. After the low volume peak last week we decided to use
the Wed & Thurs rebound to close the position.
PLCM 08/22 Test BO 23.79 -0.73 24.24 28.45 971K 1.4M 23.71
Current. Pullback holding the 10 day MVA on below average volume. Should rebound from here.
PLMD 08/28 Cup hdl 40.59 -0.43 39.68 45.75 132K 423K 39.78
Ease back testing the 10 day MVA intraday and rallied back on low volume. Moving up after testing the 18 day MVA.
PRXL 08/19 Test BO 33.10 -0.38 32.24 36.95 233K 285K 32.18
Current.
QSII 08/30 Test BO 40.10 +0.47 40.05 45.00 170K 425K 38.65
Buy Not Issued. Volume not there to enter the play. If stock continues the move on strong volume will still be a buy.
QSII 08/09 Test BO 40.10 +0.47 37.45 45.00 170K 500K 39.00
Current.
RTEC 08/26 Test BO 17.90 -0.06 17.31 20.75 302K 500K 16.44
Buy Not Issued. The stock has not made the move we were looking for so will drop.
SEIC 08/14 Asc Bse 51.04 +0.07 50.72 58.50 280K 750K 51.31
Current. Tested the 18 day MVA intraday and rallied back showing another doji on the 10 day MVA on low volume. Making a lateral move.
SPY 08/26 DB hdl 130.64 -0.02 130.28 132.60 37M 80M 130.44
Trailing Stop.
STXS 08/29 Test 20 11.13 -0.05 11.33 13.55 464K 425K 10.65
Current. Moving up after testing the breakout.
TRMB 08/30 Test 50 48.97 -0.98 50.42 57.98 289K 625K 48.39
Buy Not Hit. Ease back holding the 10 day MVA on low volume. Still in the pattern.
TYL 08/12 Test BO 13.08 -0.11 12.38 14.85 321K 210K 12.96
Current.
TZOO 08/17 Dbl btm 29.72 -1.51 32.04 36.72 1M 700K 33.15
Current.
VARI 08/21 Test BO 46.68 -1.17 45.94 52.95 449K 265K 46.32
Current. Gapped lower but tapped the 18 day EMA on the low and
rebounded to hold above the 10 day on the low. Giving
it a chance to complete the rebound and fill the gap
to see which way it heads from there.
WEBX 08/22 Test BO 35.72 -0.24 36.64 41.95 527K 690K 36.05
Current.
WEBX 08/15 Asc Bse 35.72 -0.24 35.20 41.95 527K 725K 36.05
Current. Not bad action here at the 18 day EMA, tapping and
bouncing off that level intraday for a modest loss
on lower volume. This is where it needs to hold and
deliver another good move higher.
WYNN 08/23 DB hdl 77.41 +1.66 75.96 82.50 1.1M 1.2M 74.89
Current.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
CBK 08/29 Put 24.35 -0.96 25.28 23.65 1.7M 515K 24.65
Great move down the 10 day MVA on very strong volume surge. Came off the day's low of 23.55.
EXPD 08/24 Put 39.81 +0.35 38.88 36.55 1.2M 2.2M 39.35
Current. Tested the 10 day MVA intraday, but faded back on low volume. Still in downtrend.
JBLU 08/19 Put 10.26 0.00 10.21 9.50 2.3M 4.5M 10.25
Current. Broke through the 18 day MVA, but faded back to hold the 10 day MVA on low volume. Still in downtrend.
JCP 08/29 Put 63.04 -0.12 63.87 61.35 4.2M 2.8M 63.32
JEF 08/24 Put 24.92 +0.33 24.15 22.10 785K 895K 24.55
Current. Bounced to hold the 10 day MVA on average volume. May continue to test up to 18 day MVA (25)
Good Investing!
Jon L. Johnson and your Technical Traders Report 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 recommendation
stock market today
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