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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: BA; HWCC; IIVI; MNST; POT; SIMO; TALX; VCLK
Wednesday night play results:
BKE: Still nicely setting up the next move
CVA: Faded back on low volume, holding the 10 day EMA
MSTR: Moving higher but no volume to push it today
BA: Nice break higher on strong volume.
New Plays:
Upside:
Play Date: 02/15/2007
CHL (China Mobile--$48.36; +0.60; optionable): China wireless telecom
http://biz.yahoo.com/p/c/chl.html
STATUS: Breakout test. Broke out in late January from a 10 week reverse head and shoulders base, rallying over 50 on that move. It is testing that move, working laterally over the 18 day EMA (47.40), making a higher low there the past week. Showed great volume Wednesday as it rebounded. Looking solid and just going to be patient and let it show us a breakout over the short downtrend from January.
Volume: 1.787M Avg Volume: 1.712M
BUY POINT: $49.95 Volume=2M Target=$57.95 Stop=$47.22
POSITION: CHL FI - June $45c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/chl.html
Play Date: 02/15/2007
GLW (Corning--$22.05; -0.19; optionable): Telecom fiber
http://biz.yahoo.com/p/g/glw.html
EARNINGS: 1-24-07
STATUS: Double bottom w/handle. Looking at GLW again as it has held up and is now forming a handle at its 200 day SMA (21.85), using that as support as it sets up to break higher from its 10 month base. Lots of call buying in this stock. Just looking for a break higher on solid trade to move in.
Volume: 12.193M Avg Volume: 18.933M
BUY POINT: $22.65 Volume=22M Target=$27.57 Stop=$21.35
POSITION: GLW HX - Aug. $22.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/glw.html
Play Date: 02/15/2007
RS (Reliance Steel--$44.57; +1.47; optionable): Metal fabrication
http://biz.yahoo.com/p/r/rs.html
EARNINGS: 2-15-07
STATUS: Cup w/handle breakout. Gapped higher on strong volume today as it reported strong earnings, breaking out of its 9 month base. Metals are incredibly hot, and RS is starting its run towards the high in the pattern at 50. That is our initial target, kind of a nice trade. If it blasts on through we let it.
Volume: 2.644M Avg Volume: 1.07M
BUY POINT: $44.82 Volume=1.1M Target=$50.00 Stop=$42.68
POSITION: RS FI - June $45c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/rs.html
Play Date: 02/15/2007
RVSN (Radvision--$22.31; -0.55; optionable): Videoconferencing & telephony
http://biz.yahoo.com/p/r/rvsn.html
EARNINGS: Announced 2-8-07
STATUS: Breakout test. RVSN surged out of an 11 week cup base last week, surging on strong volume powered by earnings. This base acted as a nice consolidation of the breakout from a larger 9 month cup base. Looking for this stock to come back a bit more toward 22 and then rebound, giving us the buy.
Volume: 116.975K Avg Volume: 146.816K
BUY POINT: $22.45 Volume=220K Target=$26.95 Stop=$21.38
POSITION: RJU FX - June $22.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/rvsn.html
New buy point on current position:
Play Date: 02/15/2007
KSS (Kohls--$73.58; +0.55; optionable): Department stores
http://biz.yahoo.com/p/k/kss.html
EARNINGS: 3-1-07
STATUS: Cup w/handle. KSS is setting up for the next breakout after forming a nice 15 week base. Working on the handle right now on low volume, the calm before the storm. A high volume break higher is what we are looking for.
Volume: 1.277M Avg Volume: 2.936M
BUY POINT: $74.32 Volume=4.4M Target=$84.95 Stop=$71.94
POSITION: KSS GO - July $75c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/kss.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
stock recommendation
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