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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good Movers: MOLX; NITE; PLMD; SEIC; STXS
Tuesday night play results:
CRM: Doji on lower volume after that strong move Tuesday
NITE: Nice break higher
PFWD: Moved higher, but grudgingly
LIFC: Higher volume but still hugging the 10 day EMA
New Plays:
Upside:
Play Date: 09/13/2006
ANEN (Anaren--$21.31; +0.12; optionable): Scientific and technical instruments
http://biz.yahoo.com/p/a/anen.html
STATUS: Reverse head and shoulders. Taking another look at ANEN as it comes off this test of the 50 day EMA (20.06) in its 16 week base. Very nicely formed pattern and strong volume Wednesday as it tried to continue the move. Strong money flow is leading higher. We are looking at taking some positions as it continues moving higher on strong volume and then a move through 22.74. Strong pattern, strong 6 to 1 accumulation (6 up price weeks on rising volume to 1 down price weeks on rising volume) and money flow moving higher ahead of price. Solid.
Volume: 204.25K Avg Volume: 134.777K
BUY POINT: $21.69 Volume=225K Target=$24.97 Stop=$20.78
POSITION: EVB AD - Jan. $20c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/anen.html
Play Date: 09/13/2006
MCHP (Microchip--$34.88; +0.08; optionable): Semiconductor
http://biz.yahoo.com/p/m/mchp.html
STATUS: Reverse head and shoulders. Strong fundamentals underpin MCHP as it sets up for a breakout from its 16 week base that formed after a February to April base failed. Money flow is surging higher ahead of price and we are looking for price to follow it. It just cleared the 200 day SMA (34.38) on Tuesday and it tested it on the Wednesday low before rebounding. May test again, but on a strong volume move off that level we will look to move in.
Volume: 1.414M Avg Volume: 1.975M
BUY POINT: $35.12 Volume=3M Target=$40.50 Stop=$34.08
POSITION: QMT AG - Jan. $35c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/mchp.html
Play Date: 09/13/2006
WFR (Memc Electronic--$39.70; +2.03; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/w/wfr.html
STATUS: Reverse head and shoulders. Strong volume Wednesday as WFR gapped higher and moved toward the breakout from its 4 month base formed using the 200 day SMA as support on the low. A solid leader with strong fundamentals to go along with a solid technical pattern.
Volume: 7.903M Avg Volume: 4.144M
BUY POINT: $40.05 Volume=5M Target=$47.95 Stop=$37.95
POSITION: WFR AH - Jan. $40c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/wfr.html
Downside:
Play Date: 09/13/2006
COST (Costco--$49.54; -0.04; optionable): Discount warehouses
http://biz.yahoo.com/p/c/cost.html
STATUS: Put. COST is in a continuing downtrend after peaking in early July on no volume and then starting the tumble lower. It fell through all support and the past two weeks rallied up off the low to come back and test the down trendline formed from July and August peaks. The past two sessions it traded above the trendline (49.75) but then faded to close, showing a doji Wednesday. Looking for COST to fail here and tumble lower once more. A move to the target lands us a 52%ish gain.
Volume: 4.471M Avg Volume: 4.403M
BUY POINT: $49.33 Volume=500K Target=$47.30 Stop=$49.88
POSITION: PRQ VJ - Oct. $50p (-49 delta)
http://www.investmenthouse.com/ci/cost.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 recommendation
stock investment information
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