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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers: BBY; BEAV; BRCM; COH; NICE; NVEC; SIGM; SMSI; UTSI
Weekend play results:
BLUD: Doji on lower, average volume
CTRP: Nice doji over the 50 day SMA
LVS: Nice reach lower and recovery to the 18 day EMA
MA: Tried the move but faded to flat on average trade
PCU: Nope. Dove lower on rising average volume
SUPX: Still testing, showing a doji as SUPX continues the test
ADS: Still set up to make the move.
New Plays:
Upside:
Play Date: 10/30/2006
CEPH (Cephalon--$70.44; +1.09; optionable): Drugs
http://biz.yahoo.com/p/c/ceph.html
EARNINGS: 11-2-06
STATUS: Cup w/handle. Nice lateral move over the 10 day EMA (69.58) on low, below average volume, setting up the breakout from its 8 month base. Nice, steady, lower volume move, just what you want to see from the consolidation before the breakout. Plenty of room to the upside to run on the breakout.
Volume: 1.036M Avg Volume: 2.005M
BUY POINT: $71.32 Volume=3M Target=$81.95 Stop=$68.55
POSITION: CQE BN - Feb. $70c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/ceph.html
Play Date: 10/30/2006
FCFS (First Cash Financial--$21.88; -0.29; no options): Credit services
http://biz.yahoo.com/p/f/fcfs.html
EARNINGS: Reported earnings 10-18-06
STATUS: Reverse head and shoulders. FCFS is bumping up against the breakout and a new all-time high, making what looks to be a higher low Monday with a tap toward the 18 day EMA (21.52) and a recovery to close above the 10 day. Nice, patient 6.5 month base from this stock that sports some of the top earnings growth rates in the market. Solid 6 to 4 accumulation in the base (6 up price weeks on rising volume to 4 down price weeks on rising volume) shows solid buying complemented by strong money flow rising ahead of price. Just waiting for the volume to jump as it makes the breakout move.
Volume: 196.079K Avg Volume: 306.548K
BUY POINT: $22.48 Volume=450K Target=$26.95 Stop=$21.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/fcfs.html
Play Date: 10/30/2006
NUE (Nucor--$57.73; -0.63; optionable): Steel and iron
http://biz.yahoo.com/p/n/nue.html
STATUS: Test breakout. Big surge last week on the earnings breakout from its 5.5 month base took NUE to a new all-time high and made us some great money. It is now coming back to test, holding above the 10 day EMA (57.14) Monday on low volume, setting up the rebound to continue the breakout run. Nice action; excellent action. Ready to make the next run and we are going to be there to profit from it.
Volume: 3.098M Avg Volume: 4.398M
BUY POINT: $58.27 Volume=4.5M Target=$67.95 Stop=$56.95
POSITION: NUE AY - Jan. $57.50c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/nue.html
Play Date: 10/30/2006
QLGC (Qlogic--$20.38; -0.04; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/q/qlgc.html
STATUS: Breakout test. Coming back on lower volume the past three sessions as QLGC tests the Wednesday gap higher on strong earnings results. That move took it out of a 6 month cup with handle base and Monday it showed a hammer doji well above the 10 day EMA (20.08). May still come back to test this support, but want to be ready to move in as QLGC turns back up from the Monday close or the 10 day EMA. It shows it has the earnings and the accumulation behind it so we like this rebound play.
Volume: 1.742M Avg Volume: 2.312M
BUY POINT: $20.64 Volume=3M Target=$24.65 Stop=$19.88
POSITION: QLC DD - Apr. $20c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/qlgc.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 option
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