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us stock market, trading system
Begin part 2 of 2
Updates play table.
THE PLAYS
Good Movers: ATHR; BRCM; COH; CTRP; FFIV; ICE; IIG; NVLS; PFWD; QLGC; SMSC; UCTT; VCLK
NEW PLAYS:
Upside plays:
Play Date: 11/14/2006
MRVC (MRV Communications--$3.31; +0.08; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/m/mrvc.html
STATUS: Cup w/handle. Nice three week handle, filling the gap from late October, holding the 18 day EMA (3.24). Volume was up Tuesday as it tested and rebounded. Looking at this as the last stage of its handle and how looking for the break higher on continued increasing volume that will take it out of its 9 month base. Looking for a run back toward the top in the base to give us a 28%ish stock gain.
Volume: 1.43M Avg Volume: 1.369M
BUY POINT: $3.49 Volume=1.9M Target=$4.48 Stop=$3.22
POSITION: MQU CZ - Mar. $2.50c (62 delta, 105 OI) &/or Stock
http://www.investmenthouse.com/ct/mrvc.html
CONTINUING PLAYS:
Upside:
Play Date: 11/13/2006
WBSN (Websense--$27.69; +0.17; optionable): Employees internet management and web security software
http://biz.yahoo.com/p/w/wbsn.html
STATUS: Cup w/handle. Money flow continues higher as WBSN still works laterally over the 10 day EMA (27.04) in its handle. It is ready to move, just has to show it. To recap: Like seeing this 2004 and 2005 leader forming back up in an excellent pattern for a breakout move. Nice, very quiet three week lateral move has allowed the 10 day EMA to catch up with it after a strong gap higher in late October helped form the right side of its 10 month base. Excellent volume on the surge, and now a very quiet low volume handle has formed as money flow moves higher ahead of price. Excellent set up for this former leader that is setting up to lead once more.
Volume: 323.75K Avg Volume: 687.509K
BUY POINT: $28.22 Volume=1M Target=$33.95 Stop=$26.78
POSITION: DQH DE - Apr. $25c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/wbsn.html
CONTINUING PLAY TABLE:
* * SPREADSHEET DOWNLOAD * * *
The following link is to a spreadsheet download of the continuing play table. It will allow subscribers to sort the data for your personal investment use. This is a service to our subscribers only, and no other use of the information is authorized. Simply click on the link, enter your username and password, and download the spreadsheet!
http://www.technicaltraders.com/ttr/table.php
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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 63.00 +0.77 61.17 69.95 826K 1.3M 61.11
Current. Tested the 10 day MVA intraday and rallied back on rising volume.
AKAM 11/11 DB hdl 49.89 +0.34 50.75 60.95 3.7M 7.5M 48.21
Buy Not Hit.
AKAM 10/21 Test 50 49.89 +0.34 47.20 55.95 3.7M 7M 48.04
Current. Moving up after testing the 50 day MVA on low volume.
AMAG 11/04 Test BO 42.16 +0.74 40.95 48.98 291K 350K 40.97
Current.
ATHR 10/24 Test 20 24.90 +0.88 21.97 27.95 3.8M 4M 23.94
Current. Another great move up the 10 day MVA on strong volume surge.
BAMM 10/23 Test BO 20.13 +0.50 20.24 24.45 199K 150K 18.94
Buy Not Issued. Bounced off the 18 day MVA for a nice gain on stronger above average volume. Looking good.
BIDU 11/07 Asc Bse 102.20 -1.05 91.15 101.95 4.3M 2M 101.72
Target Hit.
BMRN 10/11 DB hdl 17.21 -0.07 16.62 19.95 1.2M 1.2M 16.45
Current. Gapped up at the open, but gave it back on stronger above average volume tapping 16.95 at the intraday low. May be ready to test after nice run.
BRCM 09/25 Test 50 34.05 +1.77 30.96 35.68 19M 17M 33.45
Current. Explosive move on stronger above average volume. Continue to move up the 10 day MVA.
CEPH 10/30 DB hdl 75.39 +0.53 71.85 81.95 1.6M 3M 73.08
Current. Moving up the 10 day MVA on below average volume.
CMG 11/04 Cup hdl 57.87 +1.22 58.12 66.98 1.3M 1.4M 55.95
Buy Not Issued.
COH 09/25 Test BO 40.40 +1.15 35.05 40.48 6.2M 5M 38.65
Current. Bounced off the 10 day MVA on excellent volume surge. Broke through some resistance at 40
CRM 11/06 Cup hdl 43.50 -0.50 42.40 49.95 1.8M 3M 41.95
Current. Pullback on average volume. Still in uptrend.
CTRP 10/28 Test 50 58.88 +1.13 51.00 61.45 497K 577K 56.85
Current. Another nice move up the 10 day MVA on lower, but strong volume.
CXW 10/18 Test 18 46.70 -0.31 47.60 55.75 405K 600K 45.95
Current. Pullback testing the 18 day MVA intraday and rallied back holding the 10 day MVA on below average volume. Testing the breakout. Should be ready to bounce from here.
DJO 11/01 Asc Tri 44.00 +0.08 41.65 48.95 308K 280K 43.95
Making a lateral move holding the gain. 10 day MVA moving up to meet the stock.
DRIV 09/09 Test BO 59.78 +0.19 50.34 57.50 799K 1.4M 57.55
Target Hit. Took some of the money off the table as stock hit the target intraday. Will let the remaining position work for us.
ERTS 11/11 Test BO 58.47 +0.08 59.02 67.95 2.8M 3.8M 56.95
Current.
EZPW 10/21 Test BO 44.69 -0.06 44.12 51.95 513K 750K 46.55
Current. Tapped 43.33 at the intraday low and rallied back holding the 18 day MVA on average volume. Beginning to make a lateral move.
FFIV 10/13 DB hdl 72.07 +4.55 58.00 69.95 1.9M 1.5M 69.95
Current. Gapped Higher and ran to the late March high on strong volume. 74 is an important point as that is the prior high, but it has accumulation moving into that level.
GLDN 11/10 Test BO 39.49 +0.22 39.30 46.32 195K 245K 37.35
Current. Tested low and then rebounded, holding up on lower trade. Nice test.
GME 10/21 Test BO 53.10 +0.81 53.00 60.45 1.5M 1.7M 50.55
Current. Tested the 18 day EMA and ready to stair-step back up on rising volume. Nice.
GME 10/11 Cup hdl 53.10 +0.81 49.84 58.95 1.5M 2.1M 50.45
Current.
HMSY 11/09 Test BO 14.03 +0.03 14.55 17.65 104K 331K 13.53
Buy Not Hit. Holding at the 18 day EMA still on low volume. Still primed, just has to show the move.
HOC 10/10 Dbl btm 51.36 0.00 46.82 54.50 714K 1.2M 49.24
Current. Doji after a good move Monday. Just going to let it move higher.
ICE 10/18 Test 18 96.55 +8.05 83.64 94.95 5.5M 2.4M 94.45
Target Hit. Big, strong break higher. Took some gain, letting the rest ride.
IIG 10/25 Asc Bse 23.63 +2.05 16.49 19.95 1.3M 200K 21.95
Target Hit. Another colossal move. Took some gain after two big moves higher.
IM 10/25 DB hdl 20.99 +0.09 20.84 24.95 938K 1.5M 20.45
Current.
IO 11/01 Test BO 11.42 +0.32 11.80 13.98 934K 750K 11.12
Current.
IVAC 11/11 Cup hdl 24.48 -0.27 24.62 29.85 377K 541K 22.95
Buy Not Issued. Edging higher; needs a new handle.
LAZ 11/09 Cup hdl 43.21 +0.86 44.12 51.95 318K 555K 42.22
Buy Not Hit. Bounced off the 18 day EMA. Looks good just needs some more volume.
LH 10/28 Cup hdl 68.31 +0.30 68.80 78.75 745K 1.5M 67.22
Buy Not Issued. Still solid, holding the 10 day EMA and looking for a stronger break higher.
MA 11/11 Test BO 95.20 -1.35 94.25 104.95 3.9M 3M 93.75
Current. Gapped higher but gave it back on much lower trade. Just letting it breath after a strong run.
MTW 11/02 Test BO 54.99 +0.83 55.50 66.48 589K 1.3M 52.92
Current.
NTGR 11/04 Test BO 26.85 +0.15 26.68 31.89 752K 750K 26.24
Current. Still working laterally as the 10 day EMA (26.40) rises to meet it.
NUE 10/30 Test BO 58.31 -0.62 58.30 67.95 3.7M 4.5M 57.45
Current. Still working laterally, tapping the 18 day EMA on the low once more.
NUVO 11/11 Dbl btm 20.05 +0.51 19.33 23.35 636K 465K 17.98
NVEC 11/11 Test BO 41.78 +0.28 42.75 51.95 414K 1.1M 39.43
Current. Still working laterally at the 10 day EMA, still ready to make another big break higher.
NVEC 10/14 Test 50 41.78 +0.28 33.75 40.00 414K 580K 42.45
Current.
NVLS 11/13 Cup hdl 31.54 +1.02 31.12 37.25 7.3M 3.9M 29.95
Entered today.
NYX 11/02 Cup hdl 93.03 -1.66 77.10 87.95 6.3M 2.4M 92.35
Current. Coming back to test the monstrous moves. Volume was more than we wanted, but it did rebound off the session low to close.
OPLK 11/11 Test 50 20.18 -0.02 20.38 24.65 159K 368K 18.72
Buy Not Issued.
PFWD 11/08 Test BO 15.16 +0.36 15.03 17.94 400K 252K 14.45
Current. Volume was solidly above average as PFWD broke to another high. Gee, just like the Dow.
PLCE 10/11 Cup hdl 69.06 +1.69 66.56 76.75 587K 922K 68.31
Current. Pretty decent rebound took it back over the 18 day EMA. We will see if it can recover and move higher from here.
PLCE 09/14 Test 20 69.06 +1.69 59.85 68.00 587K 800K 67.45
Current.
QLGC 10/30 Test BO 21.98 +0.91 20.65 24.65 3.4M 3M 20.97
Current. Have to love that move on strong volume as QLGC surged.
SAY 11/13 Cup hdl 22.64 +0.03 22.84 27.45 1.5M 1.1M 21.54
Buy Not Issued. Tried to extend the move but could not do it. Not worried. Just will be ready to move in when it is.
SCHW 11/06 Cup hdl 18.24 +0.01 18.55 22.45 11M 6.5M 17.68
Buy Not Hit. Tested the 50 day EMA on the low and rebounded. Maybe now the shakeout is over and it can move higher.
SEIC 11/04 Test 50 58.32 +0.71 56.88 64.95 349K 850K 56.95
Current. Trying to continue the bounce off the 50 day EMA, but suffering from a chronic lack of volume.
SKX 11/02 Test BO 28.66 -0.11 29.41 34.95 416K 500K 28.48
Buy Not Issued. Still, still, still trading in a tight range at the 10 day EMA. Volume did bump up near average, so maybe it is ready
SMSC 10/03 Cup hdl 32.50 +2.29 29.21 34.75 459K 504K 31.89
Current. Came to life. Had a great pattern but just would not move. Cleared the October high and looking for a run to 35 now.
SMSC 09/16 Cup hdl 32.50 +2.29 30.05 34.75 459K 504K 31.89
Current.
STLD 10/28 Cup hdl 60.33 +0.12 61.68 72.45 847K 2.1M 59.95
Buy Not Issued.
TNB 11/13 Rev HS 52.28 +0.08 52.55 60.45 392K 700K 50.65
Buy Not Hit. Not much volume as it starts to move.
TSRA 11/08 Test BO 37.75 -0.07 37.48 44.95 720K 1M 35.95
Buy Not Issued.
UCTT 11/08 FlyPlat 14.04 +0.86 13.88 16.95 1.3M 600K 12.98
Entered today. Pretty explosive price and volume move as UCTT moves to an ultra nice new high.
VCLK 11/01 Rev HS 22.53 +1.03 19.86 23.98 3.1M 2.4M 21.94
Current. Sweet price, sweet volume as VCLK breaks the November highs to . . . a new all-time high. What a value this turned out to be.
VOL 11/06 Test 50 45.05 +1.91 42.88 50.95 195K 400K 39.95
Buy Not Issued. Not enough volts. No volume. Have to drop.
WBSN 11/13 Cup hdl 27.69 +0.17 28.22 33.95 324K 1M 26.78
Buy Not Hit. Still looks like a sweet handle.
WMI 11/08 Cup hdl 38.03 -0.30 38.55 44.45 2.9M 2M 37.61
Current.
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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