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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good Movers: ADS; AKAM; AMAG; BIDU; BRCM; CRM; CTRP; EZPW; ICE
NEW PLAYS:
Upside plays:
Play Date: 11/07/2006
GILD (Gilead Sciences--$69.75; +0.93; optionable): Biotechnology
http://biz.yahoo.com/p/g/gild.html
STATUS: Ascending base. GILD enjoyed a good breakout in September, but then crashed back in early October on its acquisition of MYGN. It recovered to the September high and is now working in a 3 week lateral move. Started to bounce and is starting to break to a new all-time high. Needs to see some more volume as it continues on and makes the break.
Volume: 3.305M Avg Volume: 3.783M
BUY POINT: $70.11 Volume=5M Target=$79.90 Stop=$67.78
POSITION: GDQ BN - Feb. $70c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/gild.html
CONTINUING PLAYS:
Upside:
Play Date: 10/28/2006
LH (Laboratory Corp.--$68.46; +1.02; optionable): Medical Labs
http://biz.yahoo.com/p/l/lh.html
STATUS: Cup w/handle. Gapped higher Tuesday but volume remained in the same range below average. A solid 10 week base setting up to send this strong leader to a new all-time high. Just need to see the volume.
Volume: 971.1K Avg Volume: 1.159M
BUY POINT: $68.80 Volume=1.5M Target=$78.75 Stop=$67.22
POSITION: LH BB - Feb. $67.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/lh.html
Play Date: 10/30/2006
QLGC (Qlogic--$20.60; +0.41; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/q/qlgc.html
EARNINGS: Reported 10-24-06
STATUS: Breakout test. Volume was up along with price but QLGC struggled to put the break in bed. Still solid, still ready to move in. 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: 2.967M Avg Volume: 2.347M
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
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 61.22 +1.29 61.17 69.95 1.3M 1.3M 59.11
Entered today. Bounced off the 10 day MVA for a great move on much stronger above average volume.
AKAM 10/21 Test 50 49.83 +1.78 47.20 55.95 8.4M 7M 47.45
Current. Gapped up at the open for a nice gain on excellent volume surge. Moving up after testing the 50 day MVA.
AMAG 11/04 Test BO 41.16 +1.18 40.95 48.98 387K 350K 39.31
Entered today.
AMP 11/06 Test BO 52.32 +0.17 52.48 59.95 1.7M 975K 50.18
Buy Not Issued.
ATHR 10/24 Test 20 22.53 +0.67 21.97 27.95 2.3M 4M 21.38
Current. Nice move up after testing the 200 day MVA. Making higher lows.
BAMM 10/23 Test BO 19.55 -0.10 20.24 24.45 94K 150K 18.94
Buy Not Issued. Pullback on average volume to hold the 18 day MVA on average volume. Meeting some resistance at 20. Still in the pattern.
BIDU 11/07 Asc Bse 93.88 +5.23 91.15 101.95 3.8M 2M 89.85
Entered today.
BMRN 10/11 DB hdl 17.18 +0.22 16.62 19.95 1.7M 1.2M 16.35
Current. Continue with the uptrend on strong volume surge. Came off the day's high of 17.45.
BRCM 09/25 Test 50 31.98 +1.73 30.96 35.68 24M 17M 30.98
Current. Explosive move on excellent volume surge.
CEPH 10/30 DB hdl 72.70 +0.79 71.85 81.95 3.8M 3M 69.95
Current. Continue to trend higher
CMG 11/04 Cup hdl 58.08 -0.18 57.65 66.98 694K 1.4M 55.45
Buy Not Issued.
COH 09/25 Test BO 39.49 +0.14 35.05 40.48 3M 5M 38.45
Current. Meeting some new resistance at 40.
CRM 11/06 Cup hdl 42.93 +0.92 42.40 49.95 3.1M 3M 39.95
Entered today. Got the volume we were looking for so entered the play.
CTRP 10/28 Test 50 52.67 +3.33 51.00 61.45 1.1M 577K 49.95
Entered today. Explosive move on excellent volume surge.
CXW 10/18 Test 18 47.95 +0.05 47.60 55.75 410K 600K 45.95
Current. Gapped up at the open, but gave it back on average volume. Still in uptrend.
DJO 11/01 Asc Tri 43.97 +0.02 41.65 48.95 192K 280K 43.95
Taking a breather before the next leg up.
DRIV 09/09 Test BO 58.72 +0.53 50.34 57.50 923K 1.4M 56.38
Current. Moving up the 10 day MVA on below average volume.
EZPW 10/21 Test BO 47.61 +1.25 44.12 51.95 629K 750K 44.94
Current. Gapped up at the open for a nice gain on above average volume. Moving up after testing the 50 day MVA.
FFIV 11/04 Test BO 67.17 +1.55 65.05 74.95 904K 1.2M 62.95
Buy Not Issued. Not enough volume to enter the play.
FFIV 10/13 DB hdl 67.17 +1.55 58.00 69.95 904K 1.5M 64.95
Current. Continue to move up the 10 day MVA on rising volume.
GLDN 11/01 Test BO 37.39 +0.65 37.22 44.45 292K 245K 35.88
Buy Not Issued. Tested the 10 day MVA intraday and rallied back showing a doji on much stronger volume surge. Came off the day's high of 38.15. Need to see a clear and decisive move on strong volume.
GME 10/21 Test BO 53.04 -0.22 53.00 60.45 1.2M 1.7M 50.55
Current. Pullback on rising volume. Typical pullback.
GME 10/11 Cup hdl 53.04 -0.22 49.84 58.95 1.2M 2.1M 50.45
Current.
HMSY 10/21 Cup hdl 14.40 +0.17 14.55 17.65 206K 331K 13.65
Tested the 18 day MVA intraday and rallied back on rising volume. Moving up after testing the breakout.
HOC 10/10 Dbl btm 48.99 -1.07 46.82 54.50 700K 1.2M 48.48
Current. Ease back on low volume holding the 10 day MVA. Still in good shape.
HOLX 11/06 DB hdl 47.76 -0.24 49.21 56.95 1.1M 1.4M 46.57
Entered today. Lured us in. Volatile session tapping 49.31 at the intraday high, but gave it back showing a doji on the 18 day MVA on stronger above average volume. Stock should hold here and rebound.
ICE 10/18 Test 18 87.12 +2.22 83.64 94.95 2.7M 2.4M 83.97
Current. Continue with the uptrend for a nice gain on stronger above average volume. Came off the day's high of 89.22. Moving up after testing the 18 day MVA.
IIG 10/25 Asc Bse 17.72 -0.15 16.49 19.95 530K 200K 16.48
Current. Pullback on lower, but very strong volume. Still in uptrend.
IM 10/25 DB hdl 20.65 -0.29 20.84 24.95 904K 1.5M 20.12
Current.
IO 11/01 Test BO 11.39 -0.26 11.38 13.65 884K 750K 10.78
Buy Not Issued.
LH 10/28 Cup hdl 68.46 +1.02 68.80 78.75 971K 1.5M 67.22
Buy Not Issued. Gapped up at the open for a nice gain on average volume. Moving up after testing the 50 day MVA.
MRVC 11/04 Cup 3.42 +0.05 3.49 4.32 967K 2M 3.23
Buy Not Hit.
MTW 11/02 Test BO 53.19 -0.86 55.44 66.48 623K 1.3M 52.44
Buy Not Hit.
NTGR 11/04 Test BO 26.84 -0.07 26.68 31.89 640K 750K 25.97
Current. Ease back on low volume. Still in good shape.
NUE 10/30 Test BO 58.52 -1.06 58.30 67.95 4.3M 4.5M 57.45
Current. Pullback on rising volume. Moving up after testing the breakout.
NVEC 10/14 Test 50 41.94 +1.31 33.75 40.00 1M 580K 42.45
Current. Bounced off the 10 day MVA on rising volume. Moving up after testing the breakout. Did come off the day's high of 44.33.
NYX 11/02 Cup hdl 82.03 -0.13 77.10 87.95 1.4M 2.4M 79.95
Current. Ease back on low volume. Still in the pattern.
PLCE 10/11 Cup hdl 70.41 +1.00 66.56 76.75 574K 922K 68.31
Current. Continue with the uptrend on rising volume. Came off the day's high of 71.59.
PLCE 09/14 Test 20 70.41 +1.00 59.85 68.00 574K 800K 67.45
Current.
QLGC 10/30 Test BO 20.60 +0.41 20.64 24.65 3M 3M 19.88
Buy Not Issued. Bounced off the 10 day MVA on stronger above average volume. Came off the day's high of 20.78. If stock continues the move on strong volume will be a buy.
SCHW 11/06 Cup hdl 18.92 -0.08 19.12 22.45 10M 6.5M 17.95
Buy Not Hit. Pullback on lower, but strong volume. Still forming the handle.
SEIC 11/04 Test 50 57.19 +0.25 56.88 64.95 501K 850K 55.22
Current. Moving up after testing the 50 day MVA on low volume.
SKX 11/02 Test BO 28.77 +0.02 29.41 34.95 471K 500K 28.48
Buy Not Hit. Showing a doji on the 10 day MVA on average volume. Should be ready to bounce from here.
SMSC 10/03 Cup hdl 31.12 +0.11 29.21 34.75 127K 504K 31.22
Current. Moving up after testing the 50 day MVA on low volume.
SMSC 09/16 Cup hdl 31.12 +0.11 30.05 34.75 127K 504K 31.22
Current.
SMSI 10/18 Test BO 15.93 +0.39 17.77 21.38 703K 1.1M 16.75
Current. Nice move up on low volume after testing the 50 day MVA.
SMSI 10/04 Rev HS 15.93 +0.39 15.23 17.98 703K 1.5M 17.77
Current.
STLD 10/28 Cup hdl 61.00 -0.20 61.68 72.45 1.2M 2.1M 59.95
Buy Not Issued.
VCLK 11/01 Rev HS 21.69 +0.28 19.86 23.98 2M 2.4M 20.95
Current. Continue with the uptrend on average volume.
VOL 11/06 Test 50 41.11 -0.32 41.98 49.95 108K 400K 39.95
Buy Not Issued. Tapped 42.38 at the intraday high, but gave it back on low volume. Need to see a clear and decisive move on strong volume.
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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