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us stock market, trade stock
Begin part 2 of 3
*****
NOTE: Part 2 is preceding part 1 tonight as Jon Johnson had an after hours CNBC taping that will air first at 9:40 am ET Thursday and then two other times in the session.
*****
CONTINUING PLAY TABLE:
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LEGEND
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle/wedge; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.)
Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle/wedge; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
ACL 03/05 Test 50 125.02 +1.37 125.05 135.00 319K 650K 121.18
Buy Not Issued. Gapped up and rallied again, but then flirted with the buy point all session, unable to clear the 18 day EMA (125.55) despite tapping it intraday. With the low volume we were not going to move in given its stall at that level.
ACLI 02/20 Cup hdl 35.94 +1.60 38.48 43.98 410K 532K 37.31
Nice bounce back over the 50 day MA though volume was
pretty sorry on the move. Low volume is what you expect
in this kind of rebound. If it gets to 38 that is the
point of truth, particularly if low volume persists.
BRCD 03/01 Cup hdl 9.80 +0.36 9.55 11.77 26M 15M 9.03
Current. Another solid volume, solid price move higher as BRCD
clears to a 4 year high and gets passed that overhead
supply. Solid action.
CYTC 03/03 Test BO 30.22 +0.32 30.65 34.95 433K 1.1M 29.77
Buy Not Hit. Still moving along the 18 day MA in the breakout test
while the stocks that were pounded bounced. It is nicely
set up and we just wait and let it show us the move
if it will.
FDX 02/20 Rev HS 112.57 +1.40 120.32 134.95 1.6M 2.5M 117.36
Current. Gapped higher off the 200 day and held the move though
volume was low once more. Has to show a move over 114
to give it some credibility but there is a wad of congestion
from 114 to 118. We will just see how far it can rebound.
FLIR 03/05 Test 50 33.95 +0.79 34.55 39.35 717K 750K 32.65
Buy Not Hit. Volume was up as it tested the 10 day EMA and faded
some to close. Excellent action and a good set up for
the continued break higher.
HLTH 02/28 Test 18 14.86 +0.42 15.11 18.25 4.7M 8M 14.38
Buy Not Hit. Okay. It has held support and volume jumped to average
Tuesday as HLTH jumped off 14.50. Looks as if it is
ready to start the next move.
ICE 03/05 Test 50 142.43 +5.32 140.65 160.00 8.1M 6M 135.88
Entered today. Gapped higher, tested, and we moved in as it tested
and started to rally back off the 50 day MA. It can
tear off big chunks of green, and a couple more strong
sessions will warm things up.
KNOL 01/09 Asc Bse 14.36 +0.17 11.38 13.95 142K 165K 14.12
Nice action as it slides laterally over the 18 day
EMA. It is doing things by its own watch as it ignores
the market. Just waiting for the next break higher
to add some positions.
MSTR 02/14 Cup hdl 125.21 +2.91 125.45 135.85 159K 385K 121.45
Buy Not Issued. Gapped higher but no volume and stalled at the 10 day
EMA. It can really move when it gets its legs under
it. Needs a couple of big days to make us some money
on this run so we have to be nimble on this one.
NTGR 02/17 Dbl btm 26.58 +0.85 28.63 34.32 624K 1.1M 27.68
Current. Rallied with the market, tapping at the 90 day MA (26.91)
on the high and fading some. Key point for NTGR; it
needs to clear this resistance at 27 and then 28. A
lot to accomplish and the trade was not too encouraging.
NUAN 02/28 Test BO 14.16 +0.51 14.38 17.65 3.3M 5.5M 13.77
Buy Not Hit. Gapped higher and came within a whisker of the buy, but volume was low and it closed at the 10 day MA. Like the pattern & if no correction it would be great. Aggressive to buy on the continued upside but looking to do that.
PTNR 02/12 Test BO 13.37 +0.23 14.30 16.97 250K 344K 14.34
Current. Gapped higher off the 50 day MA on continued low volume.
Needs to show more here and clear 13.65.
RIMM 02/24 Asc Bse 135.60 +1.08 145.31 159.95 6.5M 13M 142.22
Current.
RIMM 02/03 PreAnn 135.60 +1.08 135.96 154.89 6.5M 10M 142.22
Current. Good recovery over the Monday issues, gapping higher.
It stalled at the 18 day MA on lower volume. RIMM continues
to show great relative strength, and after riding thru
this market correction.
RVSN 02/15 Test BO 22.20 +0.44 22.54 26.95 163K 220K 21.32
Current. Another solid building session on rising volume. Excellent
position to move higher.
RYI 03/05 Test BO 36.96 +2.53 36.28 41.00 1.4M 1.5M 34.46
Metals were snapped up and with its good pattern RYI
was out in front. Gapped higher, tested, and continued
on with some rising volume.
TALX 02/28 Test 18 33.16 +0.63 33.47 38.65 511K 900K 31.13
Buy Not Hit. Moved higher but could not move through the 18 day
EMA. Just have to be patient and see if this pans out.
UCTT 03/03 DB hdl 16.16 +0.45 16.41 19.45 394K 725K 15.26
Buy Not Issued. Gapped higher but not much volume and faded back to
close. Still an excellent pattern and still set to
break higher.
VCLK 03/03 Test 50 26.13 +1.12 26.87 31.95 2M 2.9M 25.32
Buy Not Hit. Moved off the 50 day EMA and looking interesting here.
It is in position and now it has to show the big break
higher.
VSAT 02/07 Test BO 33.05 +1.17 33.75 39.98 127K 250K 34.32
Current. Nice recovery of the 50 day EMA though volume was even
further below average. Money flow still leads higher.
Needs to lead it over 34.
VSEA 03/05 Test BO 47.70 +1.50 48.05 54.95 1.4M 2M 45.31
Buy Not Issued. Making some hay on stronger volume. Backed off the
high but still looks ready to continue the move.
WNR 02/22 Cup hdl 30.44 +0.89 28.25 33.89 362K 450K 29.38
Current. Running higher once more though the strong volume abandoned
it today. Just letting it work for us as it continues
working in new high territory.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AEOS 03/03 HdShldr 29.83 +0.96 29.68 28.05 5M 4M 30.48
Buy Not Issued. Very interesting. Gapped higher and filled the Monday gap lower, showing a doji. May come up to test the 10 day EMA (30.51) but 30 is an important level. If it fails at 30 that gives us a great entry point for the downside play.
BEBE 02/27 Put 17.53 +0.17 18.20 16.05 825K 1.2M 17.69
Current. Tried to rally with the market, but could not make
any headway after a modest gap up. Two hard down days
then a pause. Still in the trend lower but want a close
below 17 to really put the selling pressure on it.
CHRS 02/27 Put 11.91 +0.22 12.10 11.09 1.3M 975K 12.04
Current. Recouped some lost ground in the market reliev bounce
but still in a pernicious downtrend.
DIA 02/28 Put 122.06 +1.76 121.36 119.25 9M 9M 120.72
Current. Gapped up and closed at near term resistance at 122. Volume was lower but still above average. It shows that buyers are still a bit outgunned by the sellers. Want to see how it handles 122. It may run a bit more then stall.
HGT 02/12 Put 23.69 +0.12 23.72 22.25 286K 285K 24.02
Current. Tried to rally but closed well off the session high.
Volume was up as energy got some new money but this
looks like a very pernicious downcycle for HGT.
PHRM 03/03 Put 26.32 +1.25 25.92 23.65 460K 600K 26.95
Buy Not Issued. Gapped higher and recovered the losses from last week
but volume was below average. Looking for it to test
a bit higher (90 day MA at 26.90) and then come back down.
QLGC 02/05 Put 17.02 +0.11 18.18 16.92 2.9M 3.8M 17.38
Current. Second doji after the tank lower. Trying to put on
a stiff upper lip to rebound. If shows any strength
will take the rest of the gain off the table.
SBUX 02/17 Put 30.00 +0.59 32.65 30.92 11M 7.6M 29.72
Target Hit. Took the rest of an excellent gain as SBUX gapped higher
after 5 gaps lower. Will let it reload and then see
if it is showing signs it will continue lower again.
We have made two big plays off it; we will see.
SONC 02/27 Put 21.28 +0.26 21.35 20.00 568K 625K 21.39
Current. Gapped higher but was all over the griddle. Managed
to hold a low volume gain. Sympathy move with the market
and still going to trend lower.
STEC 02/27 Put 8.32 +0.23 8.91 7.70 906K 1.4M 8.31
STEC is sticky at 8 and ready to bounce. It was some
good sense to take some gain off the table.
TMO 03/01 HdShldr 44.83 +0.67 45.02 43.58 3.6M 3.5M 44.77
Current. Gapped higher but volume was lower. Still an ugly breakdown
and it is going to fall from here.
VIX 03/01 Put 15.96 -3.67 18.55 14.05 0 0 20.05
Tanked back down as the markets rallied, and another
couple days of upside and it is back down near the target.
End part 2 of 3
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