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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: ESV; NTGR; TRMB; VMSI; VTIV
New Plays:
Upside:
Play Date: 05/01/2007
DO (Diamond Offshore--$86.54; +0.94; optionable): Offshore drilling
http://biz.yahoo.com/p/d/do.html
EARNINGS: Announced 4-26-07
STATUS: Breakout test. DO jumped higher Thursday and added to the move Friday after earnings were released. Strong volume. Faded Monday but on lower trade, tested the 18 day EMA Monday and then jumped back up on rising volume and posting a gain on the session. Nice move out of a 12 week base (part of a larger 13 month pattern) and has already tested. Also like that earnings were released, they were solid, and DO is still in good position to buy.
Volume: 3.135M Avg Volume: 2.586M
BUY POINT: $88.05 Volume=3.4M Target=$99.95 Stop=$84.89
POSITION: DO IQ - Sept. $85c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/do.html
Play Date: 05/01/2007
FTO (Frontier Oil--$35.18; -0.15; optionable): Oil and gas refining
http://biz.yahoo.com/p/f/fto.html
EARNINGS: 5-9-07
STATUS: Test breakout. FTO jumped last week on strong volume, clearing a 9 month double bottom with handle. It is now testing that move, coming back to tap the 10 day EMA on the Tuesday low and rebounding to close flat. That lower intraday test took it down to the mid-April high. Looking for FTO to continue higher from this test on some stronger volume.
Volume: 1.632M Avg Volume: 2.027M
BUY POINT: $36.04 Volume=2.5M Target=$41.95 Stop=$34.22
POSITION: FTO JG - Oct. $35c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/fto.html
Play Date: 05/01/2007
ONNN (On Semiconductor--$10.64; -0.07; optionable): Semiconductors
http://biz.yahoo.com/p/o/onnn.html
EARNINGS: 4-26-07
STATUS: Breakout test. ONNN exploded out of an 8 week double bottom base to end April, rallying on strong volume as it made the break. It then faded to test this week as the market weakened, using that selling to set up for a continued run higher. Lower trade shows few sellers. Strong money flow is leading higher and we are looking for ONNN to continue the breakout move.
Volume: 7.776M Avg Volume: 9.869M
BUY POINT: $11.22 Volume=11M Target=$13.75 Stop=$10.55
POSITION: OKU JB - Oct. $10c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/onnn.html
Play Date: 05/01/2007
OO (Oakley--$24.17; +0.04; optionable): Sports sunglasses
http://biz.yahoo.com/p/o/oo.html
EARNINGS: Announced 4-19-07
STATUS: Breakout test. OO gapped out of its 11 week cup with handle base two weeks back on earnings, challenging its 2001 high on the move. It has since tested, coming back Tuesday to tap the 18 day EMA on the low (23.37) and then rebounding to close right at the 10 day EMA. Nice low volume test. Strong money flow is running higher ahead of prices even on this pullback. Nice doji with tail Tuesday and looking for a rebound on rising trade to move into the position.
Volume: 288.1K Avg Volume: 377.442K
BUY POINT: $24.55 Volume=450K Target=$29.48 Stop=$23.25
POSITION: OO HX - Aug. $22.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/oo.html
Play Date: 05/01/2007
SAY (Satyam Computer Services--$24.57; -0.31; optionable): Consulting, IT services
http://biz.yahoo.com/p/s/say.html
EARNINGS: 4-20-07
STATUS: Breakout test. SAY gapped out of a 13 week base two weeks back on some strong earnings results. The move took it to a new high intraday and then it faded to test this week. Tuesday it tested the 18 day EMA on lower trade. Looking for it to hold that level and then resume the breakout move. Strong money flow is leading higher and we are looking for some stronger volume as it bounces back up from this test of support. That will give us the entry point.
Volume: 663.768K Avg Volume: 1.014M
BUY POINT: $25.45 Volume=1.2M Target=$30.55 Stop=$24.21
POSITION: SAY JE - Oct. $25c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/say.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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