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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: EPIQ; GME; IPAR; MA; MR; SUN; TSO; VCLK; WNR
New Plays:
Upside:
Play Date: 06/02/2007
JADE (LJ Intl.--$11.90; -0.38; optionable): Design, manufacture and distribution of fine jewelry
http://biz.yahoo.com/p/j/jade.html
STATUS: Cup w/handle. JADE is working toward the breakout from a 13 week base that is consolidating the strong breakout and run from January. Strong 4 to 1 accumulation in the base (4 up price weeks on rising volume to 1 down price weeks on rising volume) shows plenty of buying during the base, and that sets up the breakout move. Good price/volume action as well with several upside volume spikes during the base is setting up the breakout well. Just has to show the volume on the break higher.
Volume: 955.145K Avg Volume: 974.249K
BUY POINT: $12.77 Volume=1.4M Target=$15.45 Stop=$11.88
POSITION: UOD JV - Oct. $12.50c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/jade.html
Play Date: 06/02/2007
OPTN (Option Care--$15.12; +0.05; optionable): Home health care
http://biz.yahoo.com/p/o/optn.html
EARNINGS: Announced 5-8-07
STATUS: Breakout test. OPTN is moving laterally the past week in a tight range, testing the breakout two weeks back from a 4.5 month cup with handle base. That base was the tail end of a larger 2 year reverse head and shoulders accumulation pattern. Very nice test, refusing to give up its gains; a sign of strength. Nice quiet, low volume to end the week; the calm before the storm. Looking for strong volume to come back as OPTN makes its next break higher. That move will take it to a new high, and as this is the first test of that breakout, OPTN has plenty of upside left ahead of it.
Volume: 82.63K Avg Volume: 271.289K
BUY POINT: $15.32 Volume=365K Target=$18.38 Stop=$14.65
POSITION: UOC JC - Oct. $15c (59 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/optn.html
Play Date: 06/02/2007
OTEX (Open Text--$23.01; +0.11; optionable): Enterprise content management services
http://biz.yahoo.com/p/o/otex.html
EARNINGS: Announced 5-2-07
STATUS: Test 50 day EMA. OTEX is working in a large 3.5 year double bottom base, and it looks as if it is getting toward the end with this 50 day EMA (22.72) test the past two weeks as it sets up for the breakout from the 14 week base that has set up. Strong volume is working higher as OTEX makes the test. Volume spiked above average Friday as OTEX started up off the 50 day. Looks ready to move.
Volume: 695.468K Avg Volume: 375.214K
BUY POINT: $23.45 Volume=525K Target=$27.95 Stop=$22.65
POSITION: QFT HX - Aug. $22.50c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/otex.html
Play Date: 06/02/2007
PFWD (Phase Forward--$16.33; -0.11; optionable): Clinical trial and drug safety monitoring activities.
http://biz.yahoo.com/p/p/pfwd.html
EARNINGS: Announced 4-24-07
STATUS: Breakout test. PFWD gapped out of a 20 week cup with handle on the earnings announcement. It rallied modestly and then tested to end last week, tapping the 18 day EMA (15.80) near support on the Friday low and then rebounded to close flat. Volume shot higher to end the week; with the Friday intraday dip that shows buyers stepping in on the low and scooping up shares. Nice money flow is leading higher. Solid 6 to 3 accumulation in the pattern (6 up price weeks on rising volume to 3 down price weeks on rising volume) shows a continued breakout run to come.
Volume: 880.334K Avg Volume: 280.122K
BUY POINT: $16.65 Volume=425K Target=$19.97 Stop=$15.68
POSITION: UTO JC - Oct. $15c (68 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/pfwd.html
Play Date: 06/02/2007
SMOD (SMART Modular Technologies--$14.89; +0.56; no options): Semiconductor integrated circuits
http://biz.yahoo.com/p/s/smod.html
EARNINGS: Late June
STATUS: Breakout test. SMOD broke higher in mid-May on some solid trade, moving out of a 16 week cup with handle base. Nice breakout move and then spent the past two weeks testing, coming back to the breakout point and holding last week, before starting back up on some better Thursday and Friday volume. Looking for a continued move higher on some more solid trade to move into positions.
Volume: 528.115K Avg Volume: 417.645K
BUY POINT: $15.11 Volume=625K Target=$18.32 Stop=$14.05
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/smod.html
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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trade stock
stock recommendation
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