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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Wednesday night play results
IMA: Continued the nice test, putting on the finishing touches
REGN: Nice test in the handle continues
SFD: Gapped lower and sold off but recovered to show a doji. May want to test higher again.
New Plays:
Upside:
Play Date: 01/18/2007
JNJ (Johnson & Johnson--$67.71; +0.84; optionable): Drugs, pharma products
http://biz.yahoo.com/p/j/jnj.html
STATUS: Cup. Strong volume Thursday as JNJ jumped off the 50 day EMA, starting up the right side of its 12 week cup that is acting as the handle to a large 22 month base. Money flow is surging and we are looking to move into JNJ as it continues break higher higher.
Volume: 10.327M Avg Volume: 8.85M
BUY POINT: $68.08 Volume=10M Target=$78.45 Stop=$66.12
POSITION: JNJ GM - July $65c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/jnj.html
Play Date: 01/18/2007
MDRX (Allscripts Healthcare Sol.--$27.87; -0.68; optionable): Prescription automation systems
http://biz.yahoo.com/p/m/mdrx.html
STATUS: Cup w/handle. MDRX has formed a short 6 week pattern over the 50 day EMA (27.11), consolidating a strong rally September through November, setting MDRX ready to continue a further move higher and a 7 year high. Excellent money flow remains even as MDRX fades the past two sessions to form the handle on very low volume. Looking for it to hold here and then rebound as volume runs back in. Solid fundamentals growth rate to go with its nice pattern.
Volume: 575.403K Avg Volume: 884.789K
BUY POINT: $28.18 Volume=1.2M Target=$33.85 Stop=$27.55
POSITION: MXQ FE - June $25c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/mdrx.html
Play Date: 01/18/2007
UA (Under Armour--$50.70; -0.20; optionable): Sports apparel
http://biz.yahoo.com/p/u/ua.html
STATUS: Ascending base. Broke higher in October and then started the current base, using the 50 day EMA (48.56) as support as it makes higher lows below a constant top at 52. Money flow continues higher and looking for UA to follow it as it makes a higher low at the 10 day EMA.
Volume: 506K Avg Volume: 883.689K
BUY POINT: $52.08 Volume=1.3M Target=$59.95 Stop=$49.74
POSITION: UA GJ - July $50c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/ua.html
New buy point on a current position:
Play Date: 01/18/2007
SKX (Skechers USA--$34.15; -0.29; optionable): Shoes and accessories
http://biz.yahoo.com/p/s/skx.html
STATUS: Test 18 day EMA. SKX is a solid leader, and it is making a test of the 18 day EMA (33.77), its second since the breakout. Strong move up the short term moving averages, and a leader can make 4 to 5 such moves before it needs a deeper test. The low volume pullback shows little selling. Looking for a rebound on volume to show us it is starting the next run.
Volume: 357.2K Avg Volume: 537.902K
BUY POINT: $34.72 Volume=650K Target=$41.68 Stop=$33.55
POSITION: SKX GG - July $35c (51 delta) &/or Stock
http://www.investmenthouse.com/cd/skx.html
Downside:
Play Date: 01/18/2007
TNL (Technitrol--$25.14; -0.55; optionable): Electrical components
http://biz.yahoo.com/p/t/tnl.html
STATUS: Put. TNL is back on. It peaked in October on very low volume, a telltale sign of trouble in a rally. It rolled over and collapsed on Halloween. It held the 200 day SMA (25.60) and rebounded, but it was doomed by lack of interest. It rolled over and broke the 200 day in December, then rallied back this month. It made it to the 200 and 50 day EMA this week, but after failing an attempt to move through Wednesday, it was struggling again Thursday. Looking for a move down through the 18 day EMA (24.92) on more solid trade to move into the downside play. A move to the target lands a 45%ish gain.
Volume: 300.9K Avg Volume: 434.437K
BUY POINT: $24.88 Volume=445K Target=$22.32 Stop=$25.65
POSITION: TNL PE - Apr. $25p (-41 delta)
http://www.investmenthouse.com/cd/tnl.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CELG, DRIV, GME, GOOG, ISE, MA, MRVL, NVDA, WEBX
AAPL: Tough session. Will wait for it to find the bottom and then look at it again.
CELG: Not looking really great here with a very toppish head and shoulders look
MA: Hard fall to the 18 day EMA, but when this is over we will be ready to move in again.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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trade stock
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