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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: CHL; HMSY; HOLX; RIO; STLD; TIE; SBUX; SYY
Tuesday night play results:
ACLI: Trying to make the move through the split.
CSX: Gapped lower but rebounded to post a gain and start the move.
FDX: Continuing the bounce but needing some volume
RATE: Doji at the 10 day EMA. Still ready to move
RVSN: Still testing, still a solid pullback
New Plays:
Upside:
Play Date: 02/21/2007
CAH (Cardinal Health--$72.36; -0.02; optionable): Products, services to health care providers
http://biz.yahoo.com/p/c/cah.html
STATUS: Double bottom w/handle. Years of basing has placed CAH in the current 11 month base, now working on the handle, the last step before the breakout. Excellent action as it comes back to tap the 10 day EMA (72.04) to make a higher low and set up the breakout move. Money flow is leading higher and after this higher low CAH is ready to follow it.
Volume: 1.34M Avg Volume: 1.936M
BUY POINT: $73.45 Volume=2.9M Target=$84.45 Stop=$71.15
POSITION: CAH FN - June $70c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/cah.html
Play Date: 02/21/2007
CENX (Century Aluminum Co.--$49.28; +0.68; optionable): Aluminum
http://biz.yahoo.com/p/c/cenx.html
EARNINGS: 2-20-07
STATUS: Cup w/handle. Volume climbed on the earnings as CENX tested the 18 day EMA on the Wednesday low and then rebounded, continuing the breakout from its 10 month base. It broke higher last week on strong volume, moved laterally, and now is ready to run again. Excellent pattern and ready to step in as CENX continues higher from here.
Volume: 1.261M Avg Volume: 748.133K
BUY POINT: $49.54 Volume=900K Target=$59.75 Stop=$46.22
POSITION: CQL FJ - June $50c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/cenx.html
Play Date: 02/21/2007
CMG (Chipotle Mexican Grill--$63.58; -0.31; optionable): Restaurants
http://biz.yahoo.com/p/c/cmg.html
STATUS: Test breakout. CMG surged on Friday after announcing some excellent earnings. The move broke it out of a large 10 month reverse head and shoulders base. Strong volume then a lower volume test the past two sessions, refusing to give up much ground. May come back to test a bit more (10 day EMA at 62), but it is not giving much ground on this pullback. If it starts higher on some rising trade we will start the play.
Volume: 602.4K Avg Volume: 649.41K
BUY POINT: $64.05 Volume=750K Target=$73.95 Stop=$61.95
POSITION: CMG FM - June $65c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/cmg.html
Play Date: 02/21/2007
FALC (Falconstar Software--$10.45; +0.10; optionable): Network storage solutions
http://biz.yahoo.com/p/f/falc.html
EARNINGS: Announced 2-13-07
STATUS: Breakout test. FALC exploded out of a 12 month cup with handle base, surging on some very strong volume. It peaked at 11 on that breakout run and has come back to test the 10 day EMA (10.08) on the Wednesday low and rebounding for a gain. Ready to step in as FALC continues the move higher.
Volume: 653.977K Avg Volume: 348.616K
BUY POINT: $10.57 Volume=700K Target=$12.75 Stop=$9.92
POSITION: XMQ HB - Aug. $10c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/falc.html
Continuing ready to move:
Play Date: 02/17/2007
NTGR (Netgear--$28.42; -0.60; optionable): Communication equipment
http://biz.yahoo.com/p/n/ntgr.html
EARNINGS: 2-15-07
STATUS: Breakout test. NTGR jumped higher on us Tuesday, continuing its move off the 90 day MA, the support for legs one and two of the short 6 week base. Nice pullback that is setting up our buy. May form a more extended handle here, but when it starts back up it is going to mean business.
Volume: 635.048K Avg Volume: 722.818K
BUY POINT: $28.46 Volume=1.1M Target=$33.95 Stop=$26.90
POSITION: TUD FE - July $25c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/ntgr.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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