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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: IIVI; ININ; SNDA; CNX; PPS
NEW PLAYS:
Upside plays:
Play Date: 12/28/2006
CBG (CB Richard Ellis--$33.83; +0.43; optionable): Property management
http://biz.yahoo.com/p/c/cbg.html
STATUS: Flying plateau. CBG made us some decent money on its last run in late October and November after breaking out from a 6 month cup with handle base. After a solid run it took a break, forming the current 5 week lateral move above the 18 day EMA (32.80). It jumped off that level the past three sessions, bumping at the top of the range Thursday. Volume remains low, but it is in solid shape for a breakout to continue the run higher. May come back one more time to make a higher low before making the breakout. Looks solid with relative strength ready to make the breakout with the stock.
Volume: 1.135M Avg Volume: 2.615M
BUY POINT: $34.11 Volume=3.9M Target=$40.95 Stop=$32.72
POSITION: CBG FF - June $30c (75 delta) &/or Stock
http://www.investmenthouse.com/ct/cbg.html
Play Date: 12/28/2006
GRMN (Garmin Ltd.--$56.25; +1.02; optionable): GPS
http://biz.yahoo.com/p/g/grmn.html
STATUS: Ascending triangle. Volume was up Thursday as GRMN started the breakout from its 6 month base making higher lows below a constant top at 55. Solid volume two weeks back as it rallied up to the breakout point and then trade dropped off as it shifted laterally, preparing for the break higher. It made that move Thursday, moving to a new all-time high. Looking to step in as it continues the move.
Volume: 2.681M Avg Volume: 2.981M
BUY POINT: $56.55 Volume=4.5M Target=$66.45 Stop=$54.48
POSITION: GQR DK - Apr. $55c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/grmn.html
Play Date: 12/28/2006
INAP (Internap Network--$19.92; -0.27; optionable): Internet connectivity for businesses
http://biz.yahoo.com/p/i/inap.html
STATUS: Flying plateau. Volume has edged higher the past two sessions as INAP continues working in its three week lateral move over the 18 day EMA (19.55). This move consolidates a solid move from October through November after breaking out from an 18 week cup with handle base. Nice pattern, breakout, and initial run, and is now just about ready for the next move. Thursday it tapped down at the 18 day EMA on the low and rebounded to recoup some of its losses. Just going to let it show us the break higher on rising trade to start the play.
Volume: 412.803K Avg Volume: 639.194K
BUY POINT: $20.32 Volume=800K Target=$24.45 Stop=$19.31
POSITION: IIP DD - Apr. $20c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/inap.html
Downside:
Play Date: 12/28/2006
DTX (CBOE DJ20 Transport 1/10--$458.62; -0.57; optionable)
http://biz.yahoo.com/p/d/dtx.html
STATUS: Put. As discussed in the market summary, the transports are struggling. They tried to set up a cup with handle base and a breakout in November, but that move failed and it instead formed a head and shoulders that broke lower two weeks back. It pierced the 200 day SMA (460.34) on that initial run lower, and now it is rebounding, bouncing the past three sessions and then showing a star doji Thursday just below the 200 day SMA. Ready to fall back over and continue the selling. A move to the target lands a 53%ish gain.
BUY POINT: $458.46 Volume=0 Target=$443.15 Stop=$460.65
POSITION: DTX NX - Feb. $460p (-46 delta, low OI)
http://www.investmenthouse.com/ct/dtx.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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