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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
New Plays:
Upside: Again we are putting some more upside on the report in anticipation of the relief bounce from this selling.
Play Date: 03/01/2007
BRCD (Brocade Communications--$9.01; 0.00; optionable): Data storage networking and solutions
http://biz.yahoo.com/p/b/brcd.html
STATUS: Cup w/handle. With the late 2006 run BRCD cleared a series of peaks that held it in check since 2003. After that run it needed a rest and it formed the current 13 week base over the prior peaks, using the 50 day EMA as support. It broke higher Tuesday on very strong earnings, testing back the past two sessions, holding the 10 day EMA on the Thursday low. It rebounded from that test, doing so on lower volume. Looks ready to continue the move but want to see strong volume as it jumps back up.
Volume: 15.498M Avg Volume: 10.143M
BUY POINT: $9.45 Volume=15M Target=$11.68 Stop=$8.79
POSITION: BQB GL - July $9c (63 delta) &/or Stock
http://www.investmenthouse.com/cd/brcd.html
Play Date: 03/01/2007
TRW (TRW, Inc.--$30.02; -0.44; optionable): Automotive systems, modules, etc. for OEM and after-market uses
http://biz.yahoo.com/p/t/trw.html
STATUS: Breakout test. TRW surged out of a 9 month cup with handle base in early February, running near 30 on the high in that breakout run. It has come back this week to test that move, holding the 18 day EMA (29.45) on the low and rebounding intraday on very strong volume Thursday. Very strong breakout move and a nice, easy test during all of the market selling. Looking for a rebound on continued solid trade to start taking some positions.
Volume: 938.601K Avg Volume: 351.923K
BUY POINT: $30.55 Volume=530K Target=$35.95 Stop=$29.28
POSITION: TRW GF - July $30c (62 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/trw.html
Play Date: 03/01/2007
TESOF (Tesco Corp.--$22.19; +1.21; no options): Oil and gas services
http://biz.yahoo.com/p/t/tesof.html
STATUS: Cup w/handle breakout. Volume surged Thursday as TESOF surged out of the handle to its 8 month base. Strong volume as TESOF moves toward a new all-time high as it continues the breakout, following strong money flow higher. Looking to start a partial as it continues the move and adding on the first test.
Volume: 396.585K Avg Volume: 106.575K
BUY POINT: $22.32 Volume=165K Target=$26.38 Stop=$20.85
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/tesof.html
Downside:
Play Date: 03/01/2007
VIX (CBOE Market Volatility Index--$15.82; +0.40; optionable)
http://biz.yahoo.com/p/v/vix.html
STATUS: VIX enjoyed a big spike in the wild market this week, rallying to 19 Tuesday and a bit higher on the Thursday high. The market recovery pushed it lower from that peak. If we get the relief move we anticipate after this blow lower, VIX will fall back down. We are looking to play that drop as the market rallies, then close it up. We can then look to play it to the upside when the relief move runs out of gas.
BUY POINT: $15.40 Target=$13.10 Stop=$16.25
POSITION: VIX PC - Apr. $15p
http://www.investmenthouse.com/cd/vix.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
AAPL: Volume and a great price surge took it back over the 50 day EMA. A good start to the recovery.
DRIV: Holding support at 54.
MA: Held steady, trying to make that double bottom at the 50 day EMA.
MRVC: Still at the 200 day SMA, still setting to move higher.
NDVA: Has reached the late January low, bouncing off that level on rising volume. Could be the start of a double bottom, but it is early to get too excited.
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.
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trade stock
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