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us stock market, stock split
Begin part 3 of 3
THE PLAYS
Good Movers: AKAM; BMRN; CEPH; CXW; EZPW; ICE; IM; IO; NTGR; NUE; SMSC
Strong plays:
1) CRM: Volume up as CRM heads toward the breakout.
2) SCHW: Breaking higher on volume.
3) VOL: Poised for the break
4) AMAG: About as ready as it will get
5) CTRP: Rising on strong volume.
6) SKX: Volume starting back up as it tests the 10 day EMA.
NEW PLAYS:
Upside plays:
Play Date: 11/06/2006
AMP (Ameriprise Financial--$52.15; +1.91; optionable): Asset management
http://biz.yahoo.com/p/a/amp.html
STATUS: Test breakout. AM blasted higher in late October on strong volume, clearing its 6 month cup with handle base. It rallied just over 52 on the move, tested, and then blasted higher again Monday on a strong shot of above average volume. The stock came public just over a year ago, and this is its first big base, a good point to move into the stock.
Volume: 2.223M Avg Volume: 961.105K
BUY POINT: $52.48 Volume=975K Target=$59.95 Stop=$50.18
POSITION: AMP CJ - Mar. $50c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/amp.html
Play Date: 11/06/2006
CRM (Salesforce.com--$42.01; +1.53; optionable): On-demand customer relationship management
http://biz.yahoo.com/p/c/crm.html
STATUS: Reverse head and shoulders. Taking another look at CRM after it tested the 50 day EMA (37.33) to start the month and then rebounding the past two sessions on a solid shot of rising, above average volume. This move has taken CRM back to the neckline in the 10 month base. Strong money flow is leading higher and CRM looks ready to follow it. Solid pattern, solid market leader.
Volume: 2.167M Avg Volume: 2.003M
BUY POINT: $42.34 Volume=3M Target=$49.95 Stop=$39.68
POSITION: CRM BH - Feb. $40c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/crm.html
Play Date: 11/06/2006
HOLX (Hologic--$48.00; +0.36; optionable): Medical appliances
http://biz.yahoo.com/p/h/holx.html
STATUS: Double bottom w/handle. Taking another run at HOLX. It weakened some in late October as it formed a new handle to its 7 month base, sliding through the 18 day EMA (47.73) to start the month. Low volume as it works on the handle, a good sign there is no heavy selling. Excellent money flow continues to lead higher. Just going to be patient, let it finish this test over the 200 day SMA (46.35) and show us the breakout.
Volume: 524.925K Avg Volume: 933.654K
BUY POINT: $49.21 Volume=1.4M Target=$56.95 Stop=$46.57
POSITION: QHX CJ - Mar. $50c (51 delta) &/or Stock
http://www.investmenthouse.com/ct/holx.html
Play Date: 11/06/2006
SCHW (Charles Schwab--$19.00; +1.01; optionable): Investment brokerage
http://biz.yahoo.com/p/s/schw.html
STATUS: Breakout. SCHW blasted higher Monday as it moved out of its 6 month cup with handle base on a strong shot of volume. Strong 9 to 5 accumulation shows plenty of buying (9 up price weeks on rising volume to 5 down price weeks on rising volume) that sets the stage for the breakout and subsequent run. Strong money flow is a good complement. Looking to take some positions on the further move and then adding to positions on the first successful test.
Volume: 13.268M Avg Volume: 6.447M
BUY POINT: $19.12 Volume=6.5M Target=$22.45 Stop=$17.95
POSITION: SHQ CW - Mar. $17.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/schw.html
Play Date: 11/06/2006
VOL (Volt Information Science--$41.43; +1.27; no options): Staffing, telecom services
http://biz.yahoo.com/p/v/vol.html
STATUS: Cup. VOL is working through an 18 week base. It rallied off the lows in October and then slipped into the current three week lateral move above the 50 day EMA (39.09), setting up for its next move higher. Has rallied Friday and Monday, but volume remained low. Looking for that volume to break higher as VOL moves through the resistance.
Volume: 196.5K Avg Volume: 340.551K
BUY POINT: $41.98 Volume=400K Target=$49.95 Stop=$39.95
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/vol.html
CONTINUING PLAYS:
Upside:
Play Date: 11/04/2006
AMAG (Advanced Magnetics--$39.98; +0.13; optionable): Diagnostic substances
http://biz.yahoo.com/p/a/amag.html
EARNINGS: 11-20-06
STATUS: Test breakout. Still in that nice test, showing a hammer doji at the 18 day EMA (39.61) as AMAG sets up for the continued rebound. Nice action and ready to continue the move. To recap: Big surge in mid-October to take AMAG out of its 6.5 month base. Nice test the past two weeks, coming back to the 18 day EMA Thursday through Monday. Volume jumped Friday as it tested through the 18 day and then rebounded. Nice breakout to a new all-time high, riding that strong 7 to 3 accumulation (7 up price weeks on rising volume to 3 down price weeks on rising volume) to the breakout. That will keep it going after this test.
Volume: 308.395K Avg Volume: 204.173K
BUY POINT: $40.68 Volume=350K Target=$48.85 Stop=$39.07
POSITION: AVM BH - Feb. $40c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/amag.html
Play Date: 10/28/2006
CTRP (Ctrip.com International--$49.34; +1.65; optionable): Chinese travel
http://biz.yahoo.com/p/c/ctrp.html
STATUS: Pennant. Held the 50 day EMA (47.88) the past week as it faded back on this last test and then enjoyed a solid session Monday as volume jumped back above average. Nice action that we are watching to see if it starts the breakout from CTRP's 17 week base that has set it up for a new high. Solid stock and solid pattern.
Volume: 581.814K Avg Volume: 381.965K
BUY POINT: $49.65 Volume=577K Target=$60.50 Stop=$47.95
POSITION: QCT CJ - Mar. $50c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/ctrp.html
Play Date: 11/04/2006
FFIV (F5 Networks--$65.62; +1.45; optionable): Internet traffic management software
http://biz.yahoo.com/p/f/ffiv.html
EARNINGS: Announced 10-25-06
STATUS: Test breakout. Nice price move Monday, but needs more volume. To recap: FFIV exploded out of a 7 month double bottom with handle base in late October on some solid earnings results. It showed a lot of strength, managing to hold its gains as the market weakened, though it started to give back some ground with the Wednesday selling. Not much, however. It held the line above the 10 day EMA (63.53) to end the week. The 10 day EMA is a good place for a strong stock to hold a breakout, and we are looking for FFIV to do just that and continue the breakout move with a bit more volume.
Volume: 580.705K Avg Volume: 976.405K
BUY POINT: New: $65.78 (orig. $65.05) Volume=1.2M Target=$74.95 Stop=$62.95
POSITION: FLK DM - Apr. $65c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/ffiv.html
Play Date: 11/01/2006
GLDN (Golden Telecom--$36.74; +0.15; optionable): Russian wireless telecom
http://biz.yahoo.com/p/g/gldn.html
EARNINGS: 11-8-06
STATUS: Breakout test. Still holding above the 18 day EMA (36.25) in its test as volume backed off to just below average. Still just waiting for that break back higher. To recap: A nice doji with tale Friday at the 18 day EMA as GLDN looks to have completed this pullback to test that nice breakout and run in October that took GLDN out of its reverse head and shoulders base. Solid action, and now just looking for a rebound on volume to move in. Looks golden.
Volume: 176.631K Avg Volume: 89.721K
BUY POINT: $37.22 Volume=245K Target=$44.45 Stop=$35.88
POSITION: QDV CG - Mar. $35c (58 delta, no OI) &/or Stock
http://www.investmenthouse.com/ct/gldn.html
Play Date: 10/30/2006
QLGC (Qlogic--$20.19; +0.07; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/q/qlgc.html
EARNINGS: Reported 10-24-06
STATUS: Breakout test. Another doji Monday above the 18 day EMA (20.01) as volume edged higher. Just looking for the break higher on more trade. To recap: Coming back on lower volume as QLGC tests the late October gap higher on strong earnings results. That move took it out of a 6 month cup with handle base it has spent the past week coming back to test. It shows it has the earnings and the accumulation behind it so logically we like this rebound play.
Volume: 1.881M Avg Volume: 2.323M
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/ct/qlgc.html
Play Date: 11/02/2006
SKX (Skechers USA--$28.75; +0.08; optionable): Footwear
http://biz.yahoo.com/p/s/skx.html
EARNINGS: Announced 10-25-06
STATUS: Test breakout. Still in the test of the breakout holding in a tight range over the 10 day EMA (28.64). Volume bumped up above average Monday; just waiting for price to move up with that volume. To recap: Gapped sharply higher the last week of October as SKX broke out of its 6 month cup with handle base on a strong earnings report. The move took SKX to a new all-time high and this is a great low volume test, coming back in the market selling but on very low volume Thursday and Friday. Looking it to hold here at the 10 day EMA (28.62) to start its move higher.
Volume: 532.3K Avg Volume: 415.674K
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
Play Date: 10/28/2006
STLD (Steel Dynamics--$61.20; +1.83; optionable): Steel & iron. Splits 2:1 on or about 11-20-06
http://biz.yahoo.com/p/s/stld.html
STATUS: Double bottom w/handle. Volume moved up Monday as STLD started higher off the 18 day EMA (58.73) test. Looks ready to make the break. To recap: Testing to form the handle the past week, holding near support as it forms the handle to its 6 month base. Solid upside volume to finish the right side of the pattern and now a nice lower volume fade to form the handle. Did not get much mileage out of the split announcement, but the pattern is solid and STLD can rip off a lot of real estate in a hurry when it gets moving.
Volume: 1.232M Avg Volume: 1.34M
BUY POINT: Breakout: $62.22 Volume=2.1M Target=$72.45 Stop=$59.95
POSITION: RQL BL - Feb. $60c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/stld.html
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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us stock market
stock split
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