trade stock, stock recommendation

Begin part 3 of 3

THE PLAYS

Good Movers: CMG; HWCC; MNST; MOS; SIMO; VCLK; XING

Wednesday night play results:
BKE: Still nicely setting up the next move
CVA: Faded back on low volume, holding the 10 day EMA
LOGI: Rising but still below average volume as LOGI prepares for the breakout move
RATE: Excellent test of the 10 day EMA. Getting ripe.

New Plays:

Upside:

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/cd/glw.html

Play Date: 02/15/2007
ICON (Iconix Brand Group--$20.61; -0.17; optionable): Variety of consumer brands (Candie's, London Fog, OP, Joe Boxer)
http://biz.yahoo.com/p/i/icon.html
STATUS: Double bottom w/handle. Short but pretty sweet looking double bottom over the 50 day EMA (19.52). Nice consolidation of the breakout from a larger base back in October. Good run higher, and a good consolidation here setting up the next move. A top stock in terms of fundamentals growth rates and a technical pattern ready to break it to a new all-time high
Volume: 500.942K Avg Volume: 816.164K
BUY POINT: $21.32 Volume=1.2M Target=$25.55 Stop=$19.83
POSITION: QIA HD - Sept. $20c (60 delta) or QIA ED - May $20c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/icon.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/cdrs.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/cd/rvsn.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

AKAM: Gee, may be ready for a buy soon. On the next bounce we will be looking at it.

GOOG: Turning back down at the 90 day. Not a jump in trade but now much weaker.

ISE: Trying to make a higher low as it tests the early February rebound surge.

MRVL: Some strong volume off the prior lows at 18. The sector is heating up.

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.

trade stock
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