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Begin part 3 of 3
NOTE: Part 2 follows part 3 this evening.
THE PLAYS:
Good movers: GES; ICE; SBUX
New Positions on current Pre-Announcement Plays: Some leaders that have come back to test and setting up a new entry point.
Play Date: 06/06/2007
MA (MasterCard--$147.02; -2.18; optionable): Consumer credit services
http://biz.yahoo.com/p/m/ma.html
EARNINGS: Announced 5-2-07
STATUS: Test 10 day EMA. MA has made us a bundle on this move and now it is setting up to give us another entry point. It blasted out of a 15 week flat base to start May on some strong earnings and then rallied up the 10 day EMA (146). It is making just its second test of this near term support after the breakout, and a strong stock such as MA will give you 4 to 5 bounces off that near support following the breakout. Thus this low volume pullback is giving us a nice entry point for the next leg up. Want to see it hold and start higher on some decent trade; that is when we move in once again.
Volume: 2.262M Avg Volume: 2.847M
BUY POINT: $148.55 Volume=4M Target=$166.95 Stop=$145.55
POSITION: MAL JJ - Oct. $150c (49 delta)
http://www.investmenthouse.com/cs/ma.html
Play Date: 06/06/2007
RIMM (Research in Motion--$164.78; -3.49; optionable): Blackberries, Pearls, etc.
http://biz.yahoo.com/p/r/rimm.html
EARNINGS: Announced 4-11-07
STATUS: Test 10 day EMA. Another great market leader is testing near support at the 10 day EMA (163.58) following a big breakout move. RIMM broke higher in early May from a 4.5 month trading range. It was hit on its earnings report with a nasty gap lower, but it held the range, and then surged right back up through the top. It has given us a nice run already, and now it is making its second test of the 10 day, moving laterally the past week on very low, below average volume as it rests after its last leg higher. Like how it refuses to give back any gains as it does. Looking for a hold at this near support and then a break higher once more on a solid boost in volume.
Volume: 4.532M Avg Volume: 6.197M
BUY POINT: $165.89 Volume=7.2M Target=$186.95 Stop=$162.95
POSITION: RFY IM - Sept. $165c (53 delta)
http://www.investmenthouse.com/cs/rimm.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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