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trading system, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: HOC; ITRI; MON; OIH; RS; VCLK; VTIV
New Plays:
Upside:
Play Date: 04/12/2007
CELG (Celgene--$58.00; +0.40; optionable): Cancer drug development
http://biz.yahoo.com/p/c/celg.html
EARNINGS: Announced 2-1-07
STATUS: Cup w/handle. CELG surged to start the month, rallying to just below the December high at 60 and then pulling back this week to test the move. It tapped at and held the 10 day EMA on the Wednesday low, rebounding nicely. Thursday it was up a bit more but on low trade. May take 2 to 3 more sessions to finish forming the handle, but want to be ready when it starts back up through the buy point. Strong fundamentals growth rates and a strong pattern. Nice.
Volume: 2.964M Avg Volume: 3.735M
BUY POINT: $58.98 Volume=5M Target=$67.95 Stop=$56.44
POSITION: LQH GL - July $60c (49 delta) &/or Stock
http://www.investmenthouse.com/cd/celg.html
Play Date: 04/12/2007
NUVA (Nuvasive--$24.55; -0.05; optionable): Surgical treatment of spine disorders
http://biz.yahoo.com/p/n/nuva.html
EARNINGS: 4-25-07
STATUS: Double bottom w/handle. NUVA has formed a 7 week base on top of the 50 and 90 day MA, part of a 4.5 month base on base pattern that is setting NUVA up for the break to a new all-time high. Making a higher low at the 10 day EMA, showing excellent volume on the Tuesday and Thursday moves. With money flow leading the way higher, NUVA is ready to make the next breakout and run.
Volume: 345.617K Avg Volume: 242.9K
BUY POINT: $25.24 Volume=364K Target=$28.95 Stop=$23.98
POSITION: QNU IE - Sept. $25c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/nuva.html
Play Date: 04/12/2007
VLCM (Volcom--$37.14; +0.47; optionable): Men's and women's clothing
http://biz.yahoo.com/p/v/vlcm.html
EARNINGS: Announced 2-22-07
STATUS: Cup w/handle. Sweet little 7 week base has formed over the 50 day EMA, ready to break VLCM out for a run at its all-time high up near 42. Part of a much larger base, but this little one is the one of interest now. Money flow is strong and leading higher. Excellent fundamentals growth rates to match the strong pattern. Looks ready, just waiting for the price move and some strong trade to drive it.
Volume: 109.853K Avg Volume: 271.435K
BUY POINT: $37.72 Volume=400K Target=$43.45 Stop=$36.08
POSITION: UQY GG - July $35c (67 delta) &/or Stock
http://www.investmenthouse.com/cd/vlcm.html
Play Date: 04/12/2007
WOOF (VCA Antech--$38.87; +1.60; optionable): Vet services
http://biz.yahoo.com/p/w/woof.html
EARNINGS: 4-25-07
STATUS: Double bottom w/handle breakout. Surging volume Thursday as WOOF blasted out from a 7 week base formed above the 50 day EMA. Nice base on base action: WOOF broke out from a 5 month cup with handle in late February and then fell into this base. These patterns tend to really wring out the sellers and clear a path to the upside. WOOF is moving up to a new high where there is no overhead resistance. Excellent fundamentals growth rate to match its pattern. Ready to move in on a further run and then take some more positions on a successful test of this breakout move. No dogs here.
Volume: 1.08M Avg Volume: 340.492K
BUY POINT: $39.08 Volume=400K Target=$44.95 Stop=$37.15
POSITION: QWF IH - Sept. $40c (52 delta) &/or Stock
http://www.investmenthouse.com/cd/woof.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
Getting some good choices in as replacements for WEBX (getting bought out) and MRVL (dead for some time).
AAPL: After hours it announced its next operating system would be delayed; how Microsoft-esque. It was trading below the 50 day EMA after hours.
AKAM: Trying to punch through the 90 day MA. Volume was strong Wednesday when it failed, weaker Thursday when it succeeded. If some real volume comes in as it breaks higher then it is a buy (5M range again).
DRIV: Still setting up to try a break higher off of the 90 day MA.
MA: Still setting up for the breakout move.
NVDA: Bounced up off of that down trendline it broke 5 sessions back. Critical point for it to make a serous move through the 50 day SMA (30.83).
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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