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Begin part 2 of 2
THE PLAYS
Good Movers: BMRN; BRCM; DJO; DRIV; HMSY; NYX; PLCE; VCLK
NEW PLAYS:
Upside plays:
Play Date: 11/02/2006
MTW (Manitowoc--$52.75; -0.20; optionable): Farm and construction machinery
http://biz.yahoo.com/p/m/mtw.html
EARNINGS: announced 10-24-06
STATUS: Test breakout. Nice gap higher last week on earnings that took MTW out of its 6 month cup with handle base. It tapped the May high in the base on the moved and faded back to test this week, holding the 10 day EMA (52.54) Thursday, showing a doji on low, below average volume. Solid money flow continues higher, and we are looking for MTW to follow it back up after this breakout. Solid stock with some of the best earnings growth rates in the market.
Volume: 543.2K Avg Volume: 833.697K
BUY POINT: $55.44 Volume=1.3M Target=$66.48 Stop=$52.44
POSITION: MTW CK - Mar. $55c (48 delta, 61 OI) &/or Stock
http://www.investmenthouse.com/ct/mtw.html
Play Date: 11/02/2006
SKX (Skechers USA--$28.96; +0.16; optionable): Footwear and apparel
http://biz.yahoo.com/p/s/skx.html
EARNINGS: Announced 10-25-06
STATUS: Breakout test. SKX makes some pretty good shoes for kids; ours seem to like them. Super breakout on a strong gap last week as earnings were pretty much stellar. That took it out of a nicely formed 6 month cup with handle base and to a new 5 year high. Strong volume breakout, lower volume test; trade really fell off Thursday as it held the 10 day EMA (28.61). Looks as if this could be the point it holds for the continued move. Want to see the volume rebound as it does.
Volume: 358.9K Avg Volume: 422.567K
BUY POINT: $29.41 Volume=500K Target=$34.95 Stop=$28.48
POSITION: SKX DF - Apr. $30c (49 delta) &/or Stock
http://www.investmenthouse.com/ct/skx.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
ADS 10/26 Test BO 59.19 -1.08 61.11 69.95 816K 1.3M 58.38
Buy Not Hit. Gapped down testing the 18 day MVA intraday and rallied back on low volume. Testing the breakout. Looking for a bounce off the 18 day MVA.
AKAM 10/21 Test 50 46.65 +0.18 47.20 55.95 3.9M 7M 47.45
Current. Bounced on low volume. Beginning to consolidate just above the 50 day MVA.
AQNT 10/31 Cup hdl 28.70 +1.80 28.77 33.95 3M 1.7M 26.83
Entered today. Took some positions moving into the close and it reported solid earnings but was lower after hours. Will see
how it pans out in morning. Strong stock and good earnings;
needs an analyst upgrade.
ATHR 10/24 Test 20 21.16 +0.50 21.97 27.95 2.1M 4M 20.82
Current. Tested the 200 day MVA intraday and rallied back on below average volume holding just below the 10 day MVA. Should continue to rebound from here.
BAMM 10/23 Test BO 19.49 -0.37 20.24 24.45 110K 150K 18.94
Buy Not Issued. Pullback on average volume holding the 18 day MVA.
BMRN 10/11 DB hdl 16.31 +0.60 16.62 19.95 1.5M 1.2M 15.89
Current. Tapped 15.70 at the intraday low and rallied back for a nice gain on strong volume surge. Came off the day's high of 16.67. Moving up after testing the 50 day MVA.
BRCM 09/25 Test 50 29.91 +0.48 30.96 35.68 13M 17M 29.32
Current. Bounced off the 18 day MVA for a nice move on low volume. Continue to move up after testing support at 27.
CEPH 10/30 DB hdl 70.25 +0.31 71.32 81.95 2.2M 3M 68.55
Buy Not Hit. Bounced off the 10 day MVA on slightly above average volume. Still forming the handle.
COH 09/25 Test BO 39.62 -0.03 35.05 40.48 3.4M 5M 38.45
Current. Tested the 10 day MVA intraday and rallied back on rising volume. Meeting resistance at 40.
CTRP 10/28 Test 50 47.85 +0.46 50.55 60.50 330K 577K 48.21
Buy Not Hit. Bounced to hold the 50 day MVA on average volume. Still in the pattern.
CXW 10/18 Test 18 45.12 +0.11 46.48 54.85 420K 600K 44.78
Buy Not Issued. Filling the gap from the early October breakout. Still in the pattern.
DJO 11/01 Asc Tri 42.31 +2.21 41.65 48.95 610K 280K 39.95
Gapped up at the open for a great move on excellent volume surge.
DRIV 09/09 Test BO 57.36 +0.98 50.34 57.50 1M 1.4M 55.95
Current. Tested the 10 day MVA intraday and rallied back for a nice gain on low volume. Still in uptrend.
EZPW 10/21 Test BO 43.02 -0.73 44.12 51.95 720K 750K 43.89
Current. Volatile session testing the 50 day MVA intraday and rallied back to hold the 18 day MVA on stronger above average volume. Came off the day's high of 44.78. Tested the mid October breakout. Stock should hold here.
FFIV 10/13 DB hdl 63.55 -1.15 58.00 69.95 984K 1.5M 63.95
Current. Gapped down on average volume. Routine pullback.
GLDN 11/01 Test BO 36.26 -0.09 37.22 44.45 236K 245K 35.88
Buy Not Hit. Gapped down at the open and rallied back holding the 18 day MVA on above average volume. Should rebound from here.
GME 10/21 Test BO 50.30 +0.21 52.21 60.45 929K 1.7M 50.22
Buy Not Issued.
GME 10/11 Cup hdl 50.30 +0.21 49.84 58.95 929K 2.1M 49.65
Current. Gapped down at the open tapping 49 at the intraday low and rallied back to hold the 18 day MVA on below average volume. Should continue to rebound from here.
GYMB 09/19 Cup hdl 45.36 +0.25 37.52 44.68 1.2M 1.4M 44.87
Current. Tapped 43.86 at the intraday low and rallied back on above average volume. Looking for stock to continue to rebound from here.
HMSY 10/21 Cup hdl 15.40 +0.79 14.55 17.65 401K 331K 13.65
Tapped 13.84 at the intraday low and rallied back for an excellent move on lower but strong volume making a 52 week high.
HOC 10/10 Dbl btm 49.29 +0.15 46.82 54.50 1.2M 1.2M 47.11
Current. Tapped 47.86 at the intraday low and rallied back showing a doji on lower, but strong volume. Meeting some resistance here. Moving up after testing the 18 day MVA.
ICE 10/18 Test 18 83.30 -1.60 83.64 94.95 2.7M 2.4M 81.82
Current. Gapped up at the open, but gave it back testing the 18 day MVA on stronger above average volume. Looking for a rebound off the 18 day MVA (82.50)
IIG 10/25 Asc Bse 17.40 -0.30 16.49 19.95 507K 200K 16.03
Current. Tapped 18.25 at the intraday high, but gave it back on lower, but very strong volume. Still in uptrend.
IM 10/25 DB hdl 20.41 -0.16 20.84 24.95 453K 1.5M 19.98
Current. Pullback testing the 18 day MVA intraday and rallied back holding the 10 day MVA on low volume. Should rebound from here.
IO 11/01 Test BO 11.15 +0.04 11.38 13.65 432K 750K 10.78
Buy Not Hit.
LH 10/28 Cup hdl 67.71 +0.41 68.80 78.75 853K 1.5M 67.22
Buy Not Hit. Bounced off the simple 50 day MVA on low volume. Moving up after testing the 50 day MVA. Filled the gap from mid October breakout.
NUE 10/30 Test BO 57.42 +0.10 58.30 67.95 3.5M 4.5M 56.94
Current. Testing the breakout. Tested the 18 day MVA intraday and rallied back holding the 10 day MVA on low volume.
NVEC 10/14 Test 50 40.10 +0.14 33.75 40.00 904K 580K 42.45
Current. Showing a odji on the 10 day MVA on average volume. Should hold here and rebound.
NYX 11/02 Cup hdl 77.00 +3.00 77.10 87.95 2.9M 2.4M 73.98
Entered today. Tapped 72.41 at the intraday low and rallied back for a great move on strong volume surge.
PLCE 10/11 Cup hdl 69.88 +2.01 66.56 76.75 1.3M 922K 68.31
Current. Big gap down at the open and made a fierce rally as stock exploded higher on excellent volume surge. Continue the uptrend.
PLCE 09/14 Test 20 69.88 +2.01 59.85 68.00 1.3M 800K 67.45
Current.
QLGC 10/30 Test BO 20.03 -0.13 20.64 24.65 1.5M 3M 19.88
Buy Not Issued. Gapped down showing a doji on 18 day MVA on low volume. Filling the gap from mid October's breakout.
SMSC 10/03 Cup hdl 29.70 +0.04 29.21 34.75 150K 504K 31.22
Current. Bounced off the 50 day MVA on low volume. Came off the day's high of 18 day MVA (29.35). Looking for stock to continue to rebound from here.
SMSC 09/16 Cup hdl 29.70 +0.04 30.05 34.75 150K 504K 31.22
Current.
SMSI 10/18 Test BO 16.06 -0.01 17.77 21.38 2.8M 1.1M 16.75
Current. Big gap down tapping 14.55 at the intraday low and rallied back on strong volume surge. Held at support below the 18 day MVA. Showing strength coming off the day's low.
SMSI 10/04 Rev HS 16.06 -0.01 15.23 17.98 2.8M 1.5M 17.77
Current.
STLD 10/28 Cup hdl 58.89 -0.60 62.22 72.45 803K 2.1M 59.95
Buy Not Hit.
UARM 10/18 Test BO 43.50 -3.23 45.85 54.95 3.3M 1M 45.95
Exited.
UARM 09/11 Dbl btm 43.50 -3.23 37.12 43.00 3.3M 1M 45.95
Trailing Stop.
UTSI 10/05 Cup hdl 9.58 -1.12 9.56 11.68 7.5M 2.5M 10.11
Trailing Stop.
VCLK 11/01 Rev HS 21.55 +2.69 19.86 23.98 15M 2.4M 19.04
Entered today. Tested the 10 day MVA intraday and rallied back for an explosive move on very strong volume surge.
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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