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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Good movers: CEDC; RIG; RS; SLB; SU
New Post-Split Plays:
Play Date: 05/23/2007
TIE (Titanium Metals--$36.21; -0.17; optionable): Industrial metals
http://biz.yahoo.com/p/t/tie.html
EARNINGS: Announced 5-7-07
STATUS: Double bottom w/handle. Back on the report already after testing and holding the 50 day EMA (35.79) the past two sessions. Volume jumped Wednesday as TIE tried to make the break higher but fell back in the afternoon market selling. Despite that fade we still really like the pattern, a nice 14 week base that used the 90 day MA on the lows of the two legs as support; that shows the big money stepping in. Now that it has made the test we are looking for it to make the break higher and finally show us the breakout move.
Volume: 3.62M Avg Volume: 2.366M
BUY POINT: $38.11 Volume=3.2M Target=$46.00 Stop=$35.68
POSITION: TIE IG - Sept. $35c (68 delta) &/or Stock
http://www.investmenthouse.com/cs/tie.html
New Leader Play:
Play Date: 05/23/2007
FCX (Freeport McMoran--$73.75; +2.40; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: Announced 4-25-07
STATUS: Ascending base. FCX broke out from an 11 month base in late March and rallied on up to 72. Nice 12 stick run. It made it to the April and May 2006 highs and stalled. That slipped it into the current 6 week base as FCX makes some higher lows along the 18 day EMA (71.25). Looks as if it made its last one last Thursday, reversing off some selling on rising volume. Wednesday it was bouncing to a new closing high on this move on even better, much better, trade. Money flow is running higher ahead of price. Looking quite good here.
Volume: 17.435M Avg Volume: 11.763M
BUY POINT: $74.05 Volume=12M Target=$85.00 Stop=$71.11
POSITION: FCX HN - Aug. $70c (67 delta) or FCX KO - Nov. $75c (57 delta) &/or Stock
http://www.investmenthouse.com/cs/fcx.html
Downside:
Play Date: 05/23/2007
SBUX (Starbucks--$28.89; -0.12; optionable): Coffee, pastries, music, coffee makers. Next week maybe it will offer counseling (addiction counseling)
http://biz.yahoo.com/p/s/sbux.html
EARNINGS: 8-1-07
STATUS: Put. Going to the well again with Starbucks. It has made us a lot of money on the downtrend since its sales started to decline. Good things were expected of it last earnings in early May, and it was up shortly after the announcement and then rolled over for another run downside. It bottomed on that move last week and rebounded. It tapped at the 18 day EMA (29.57) on the Monday and Tuesday highs but then faded back down. Key because it was unable to break back above lows from August 2006 and March 2007 that marked significant bounces. That means it is likely heading lower from here. Looking for a continued move lower from this last test to give us the buy point. A move to the initial target lands a 50%ish gain.
Volume: 9.544M Avg Volume: 12.807M
BUY POINT: $28.75 Volume=13M Target=$27.25 Stop=$29.32
POSITION: SQX SF - July $30p (-59 delta)
http://www.investmenthouse.com/cs/sbux.html
Good Investing!
Jon L. Johnson and the Stock Split Report 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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us stock market
stock recommendation
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