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Begin part 3 of 3
THE PLAYS
Good movers: BA; IOC; RIMM; AEO; AKAM; CTSH; SBUX; TTEC
New Plays:
Upside:
Play Date: 05/24/2007
CRZO (Carrizo Oil & Gas--$38.32; -0.67; optionable): Independent oil and gas
http://biz.yahoo.com/p/c/crzo.html
EARNINGS: Announced 5-9-07
STATUS: Test 18 day EMA. CRZO is trading just off an all-time high, coming back this week on low volume to test its last move up off the 50 day EMA. It broke out from a 15 week base in late March and rallied on up the 18 day EMA. It made the 50 day EMA test, coming back to rest after the initial breakout run. It showed some excellent volume as it rebounded off of that key support, telling us that the big money was back in and pushing it higher. After this test of near support it will be ready to run back up the 10 and 18 day EMA once more. When it bounces on some strong volume we will be ready to move in.
Volume: 538.854K Avg Volume: 533.314K
BUY POINT: $38.94 Volume=750K Target=$45.75 Stop=$37.55
POSITION: QOW JG - Oct. $35c (72 delta) &/or Stock
http://www.investmenthouse.com/ct/crzo.html
Play Date: 05/24/2007
GME (Gamestop--$35.21; -0.64; optionable): Video games stores
http://biz.yahoo.com/p/g/gme.html
EARNINGS: Announced 5-23-07
STATUS: Test 18 day EMA. GME announced some solid earnings this week but it had already put in a good move ahead of the number and the result was anticlimactic. It has come back to test, tapping the 18 day EMA (34.81) on the intraday low Thursday and rebounding modestly. Lower volume on the session so no dumping, just a pullback. This is testing the breakout from a 6 week lateral base GME broke higher from two weeks back. May come back to test the 18 day EMA once again, but want to be ready to step in as GME rebounds off of this test of near support.
Volume: 3.189M Avg Volume: 2.275M
BUY POINT: $35.57 Volume=3.5M Target=$40.95 Stop=$34.62
POSITION: GME JG - Oct. $35c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/gme.html
Downside:
Play Date: 05/24/2007
HLTH (Emdeon Corp.--$14.94; -0.47; optionable): Healthcare information systems
http://biz.yahoo.com/p/h/hlth.html
EARNINGS: Announced 5-3-07
STATUS: Put. HLTH was an upside winner for us earlier in the year, but it has formed a broad 8 week umbrella top. It fell through the 50 day EMA (15.37) last week and then rebounded this week to test. Tried to get through but could not make it, rolling over Thursday in the market selling. It closed on the 90 day MA (14.95) and volume was a bit lower. Looking for a break lower from this very toppish pattern. A move to the target lands a 65%ish gain.
Volume: 2.115M Avg Volume: 2.65M
BUY POINT: $14.82 Volume=3M Target=$13.50 Stop=$15.15
POSITION: HUT SC - July $15p (-46 delta)
http://www.investmenthouse.com/ct/hlth.html
Play Date: 05/24/2007
PRFT (Perficient--$20.36; -0.08; optionable): Software
http://biz.yahoo.com/p/p/prft.html
EARNINGS: Announced 5-10-07
STATUS: Double top. Good breakout in early April and then a test of the 50 day EMA (20.95). It tried to continue the breakout but failed, falling through the 50 and 90 day MA (20.68) last week on some heavy volume. It has rebounded to test, but could not get through the 90 day MA. Volume jacked on up well above average Thursday as PRFT tapped the 90 day MA on the high and then closed lower. Looking for a fall toward the 200 day SMA (18.12). Our initial target is more conservative, and a move to that level lands a 43%ish gain.
Volume: 590.464K Avg Volume: 403.643K
BUY POINT: $20.24 Volume=400K Target=$18.86 Stop=$20.75
POSITION: UTJ SD - July $20p (-40 delta)
http://www.investmenthouse.com/ct/prft.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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