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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: AKAM; ANF; CXW; DO; ICE; MA; TALX; SBUX
Wednesday night play results:
AH: Moving higher but not quite there
ASCA: Testing back on very low volume.
VSAT: Faded back from the Wednesday jump
SYY: Heading lower on stronger volume
New Plays:
Upside:
Play Date: 02/08/2007
JEC (Jacobs Engineering--$92.01; +0.13; optionable): Engineering and technical services. Splits 2:1 on 3-16-07
http://biz.yahoo.com/p/j/jec.html
EARNINGS: 1-23-07
STATUS: Test breakout. Broke higher from a 9 month base in the third week of January, surging higher through the start of this month. It has come back to test that move the past week, making its first test of the 10 day EMA (91.07) since the breakout. Very strong, nice test. Looking to ride the next rebound up to 100 and see where it goes from there. Roughly a 70% gain to the target with the option play.
Volume: 333.3K Avg Volume: 402.268K
BUY POINT: $92.42 Volume=500K Target=$99.95 Stop=$90.86
POSITION: JEC DR - Apr. $90c (66 delta)
http://www.investmenthouse.com/ci/jec.html
Play Date: 02/08/2007
OSG (Overseas Shipholding--$63.12; +0.40; optionable): Shipping
http://biz.yahoo.com/p/o/osg.html
EARNINGS: Reported 2-2-07
STATUS: Test reversal. OSG reversed its 4.5 month downtrend in late January, rallying through the down trendline and the 200 and 50 day EMA to boot. Good volume on the move. It stalled some this month, catching its breath and refusing to give up any gains. Thursday volume picked up as OSG started higher. Still needs more trade to drive it, but has a nice area to run to without having to make a new high. Option play gains us about 62% to target; stock play 10%.
Volume: 433.9K Avg Volume: 493.445K
BUY POINT: $63.55 Volume=700K Target=$69.95 Stop=$61.55
POSITION: OSG GL - July $60c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/osg.html
Play Date: 02/08/2007
ZUMZ (Zumiez--$36.49; +1.04; optionable): Apparel stores
http://biz.yahoo.com/p/z/zumz.html
EARNINGS: 3-14-07
STATUS: Ascending base. Strong volume Thursday as ZUMZ broke higher, clearing the January peak as it made the move. Solid same store sales helped drive it higher. This puts ZUMZ in the clear for some more upside. Excellent fundamentals growth rates to go along with its technical pattern.
Volume: 1.135M Avg Volume: 548.11K
BUY POINT: $36.72 Volume=800K Target=$42.95 Stop=$34.36
POSITION: QUY EG - May $35c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/zumz.html
Continuing plays ready to move:
Play Date: 02/06/2007
GLW (Corning--$22.49; +0.10; optionable): Glass fiber
http://biz.yahoo.com/p/g/glw.html
EARNINGS: Announced 1-24-07
STATUS: Double bottom. After that Tuesday break back through the 200 day SMA (22), GLW faded on lower volume to test. Gapped lower Thursday but then closed positive. May come back to test a bit more but like the response to the gap lower on Thursday. Just want to be ready when it makes the next move higher. To recap: 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: 16.563M Avg Volume: 19.088M
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
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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trade stock
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