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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS
Good movers: BCSI; BIDU; CRZO; FCX;GS; ICE; IOC; MA; NTGR; SGR; WNR; AKAM
New Plays:
Upside:
Play Date: 05/29/2007
CMI (Cummins--$88.40; +0.66; optionable): Diesel and other engines
http://biz.yahoo.com/p/c/cmi.html
STATUS: Breakout test. Taking another look at CMI as it shows signs of life, i.e. starting to move with some better volume in its 4 week fade to test its strong late April move. It gapped higher on earnings, but it was already rolling along higher before that. Very nice, low volume the test shows very few sellers. Thursday it undercut the 18 day EMA (87.57) that it used for support, and then bounced right back. Nice shakeout action. Tuesday it was bouncing higher but faded as volume did not surge up with it. Still looks solid and ready to follow that money flow higher.
Volume: 1.377M Avg Volume: 2.5M
BUY POINT: $89.31 Volume=2.5M Target=$99.85 Stop=$86.95
POSITION: CDM IY - Sept. $87.50c (57 delta)
http://www.investmenthouse.com/ct/cmi.html
Play Date: 05/29/2007
OIH (Oil Services Hldrs Trust--$166.62; -1.48; optionable)
http://biz.yahoo.com/p/o/oih.html
STATUS: Test 18 day EMA. Going to the well again so to speak, looking at OIH as it makes a test of the 18 day EMA (164.45) after a nice run that made us some money earlier in May. It broke out from a 14 week cup with handle in April and this is its third test of the 10 and 18 day EMA on the run. That still leaves a couple more good bounces ahead of it, and we are looking to move in when it starts the move back up. Nice doji at the 10 day EMA Tuesday on some rising trade. Want to see more volume as it makes the move.
Volume: 8.202M Avg Volume: 10.5M
BUY POINT: $168.25 Volume=12M Target=$185.00 Stop=$164.35
POSITION: OIH GM - July $165c (59 delta)
http://www.investmenthouse.com/ct/oih.html
Play Date: 05/29/2007
PCLN (Priceline.com--$60.94; +0.58; optionable): Internet hotel bookings, etc.
http://biz.yahoo.com/p/p/pcln.html
STATUS: Test 10 day EMA. PCLN made us some great money on its earnings move, and now it has come back to test that move, holding the 50 day EMA two weeks back and launching higher again. After that surge took it to 63 it has come back to test, holding the 10 day EMA (59.75) where it looks to be making a higher low. Nice low volume test here and just looking for the move to hold the 10 day EMA and then surge back up on some rising trade. That is our cue the buyers are back and we should move in.
Volume: 577.3K Avg Volume: 1.25M
BUY POINT: $61.65 Volume=1.6M Target=$70.95 Stop=$59.08
POSITION: PUZ JL - Oct.$60c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/pcln.html
Play Date: 05/29/2007
RIG (Transocean--$96.15; -0.39; optionable): Offshore drilling
http://biz.yahoo.com/p/r/rig.html
STATUS: Test 10 day EMA. Very similar to OIH, rig is also testing the 10 day EMA (94.61), making its third test of that level since breaking out from a 17 week cup with handle base in late April. We are saying three to be conservative; two is more like it. In any event, that still leaves plenty of upside for RIG to drill into. Nice low volume test the past two sessions, showing nice dojis over near support. It is set to make the move, it just needs to show us the return of some volume when it rebounds off of this test of near support.
Volume: 3.822M Avg Volume: 6.5M
BUY POINT: $97.34 Volume=7.5M Target=$109.75 Stop=$94.31
POSITION: RIG HS - Aug. $95c (57 delta)
http://www.investmenthouse.com/ct/rig.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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stock recommendation
stock investment information
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