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Begin part 3 of 3
THE PLAYS
Good movers: ACH; BMC; CLB; CROX; FRX; KSWS; RIO; SBUX
Monday play results:
STLD: Nice bounce off the 10 day EMA test.
TALX: Still testing, starting higher but needs a bit more trade
WFR: Gapped higher, gave some back, but still solid.
MBT: Gapped higher and gave some back as well.
New Plays:
Upside:
Play Date: 02/06/2007
AIR (AAR Corp.--$29.91; +0.38; optionable): Products and services for the aerospace, aviation, defense industries
http://biz.yahoo.com/p/a/air.html
EARNINGS: March
STATUS: Double bottom w/handle. A short 7 week pattern has formed using the 50 day EMA (28.07) as support for both legs. This is acting as the handle to a larger 10 month base. There have been some mega volume spikes every time the stock has dipped. Money flow is leading higher, and AIR started higher again Tuesday, following the money flow. Want it to clear the highs in the base on a return of strong volume.
Volume: 425.1K Avg Volume: 454.469K
BUY POINT: $30.22 Volume=680K Target=$35.95 Stop=$28.75
POSITION: AIR EF - May $35c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/air.html
Play Date: 02/06/2007
GLW (Corning--$22.37; +1.01; optionable): Glass fiber
http://biz.yahoo.com/p/g/glw.html
EARNINGS: Announced 1-24-07
STATUS: Double bottom. GLW is coming off the second leg of a 9 month double bottom, coming off the second low hit in January. It surged off that bottom and then came back to test the 50 day EMA last week. It started back up and then surged Tuesday on very strong volume. Lots of buying in the stock and heavy buying in the options. Ready to move in as it continues this break higher.
Volume: 36.928M Avg Volume: 19M
BUY POINT: $22.57 Volume=22M Target=$27.45 Stop=$20.99
POSITION: GLW EX - May $22.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/glw.html
Play Date: 02/06/2007
NUVA (Nuvasive--$24.19; +0.07; optionable): Medical instruments
http://biz.yahoo.com/p/n/nuva.html
EARNINGS: 2-20-07
STATUS: Reverse head and shoulders. Nice low volume test this week after the strong move up to start February. Forming the right shoulder to its 9 week base that is setting up for another breakout to a new all-time high. Strong money flow is leading higher. Continued high volume spikes on upside sessions in the larger pattern shows some really strong buyers. We think this dip is going to lead to a strong surge higher with new money jumping in.
Volume: 156.456K Avg Volume: 232.56K
BUY POINT: $24.82 Volume=350K Target=$29.75 Stop=$23.54
POSITION: QNU FX - June $22.50c (68 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/nuva.html
Play Date: 02/06/2007
POT (Potash--$150.24; +0.18; optionable): Nonmetallic mining
http://biz.yahoo.com/p/p/pot.html
EARNINGS: Announced 1-25-07
STATUS: Breakout test. POT surged out of a 10 week trading range in late January on some strong earnings, rallying to 161 on that initial run. It has come back the past three sessions to test, holding the 18 day EMA (149.27) on the Tuesday close, showing a doji with tail as it rallied back from the low. Volume surged as it rallied back. Looking to step in as it rebounds back up through the 10 day EMA (151.75). This stock has a lot of strength and can really run.
Volume: 2.288M Avg Volume: 1.14M
BUY POINT: $151.88 Volume=2M Target=$170.75 Stop=$148.22
POSITION: PZV FK - June $155c (52 delta)
http://www.investmenthouse.com/ci/pot.html
Play Date: 02/06/2007
VRSN (Verisign--$25.77; +0.07; optionable): Intelligent infrastructure services
http://biz.yahoo.com/p/v/vrsn.html
EARNINGS: Announced 1-31-07
STATUS: Double bottom w/handle. VRSN is in a big, classic double bottom pattern. It gapped higher to start the month on some solid earnings, stalling out at the November high that marks the top of the handle in the 19 month base. It gapped lower way back in July 2006, and it has yet to fill the gap. Money flow is leading higher and it looks as if VRSN is now ready to fill that gap.
Volume: 2.553M Avg Volume: 3.419M
BUY POINT: $26.21 Volume=4M Target=$30.32 Stop=$24.77
POSITION: QVR FE - June $25c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/vrsn.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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