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us stock market, trade stock
Begin part 3 of 3
NOTE: Part 2 follow part 3 this evening.
THE PLAYS
Good movers: CRZO; ICE; SBUX
New Plays:
Upside:
Play Date: 06/06/2007
AMP (Ameriprise Financial--$63.71; -0.34; optionable): Asset Management
http://biz.yahoo.com/p/a/amp.html
EARNINGS: Announced 4-24-07
STATUS: Breakout test. AMP showed some strong volume last week as it broke higher from a 14 week ascending base that formed using the 50 day EMA (60.88) as support for the higher and higher lows. It really jumped Monday, making a clear break higher, but then the market caught it and pulled it back Tuesday and Wednesday. Volume was lower, and it has easily and quite nicely held above the 10 day EMA (62.96) on the Wednesday low before bouncing to recoup most of the losses. Looking for it to rebound on some more solid trade and again move to a new high.
Volume: 1.091M Avg Volume: 1.116M
BUY POINT: $64.12 Volume=1.4M Target=$73.75 Stop=$62.82
POSITION: AMP IL - Sept. $60c (64 delta) &/or Stock
http://www.investmenthouse.com/cd/amp.html
Play Date: 06/06/2007
MICC (Millicom Cellular--$87.42; -1.24; optionable): Mobile telecom services in Central and South America
http://biz.yahoo.com/p/m/micc.html
EARNINGS: Announced 4-24-07
STATUS: Breakout test. MICC blasted out of a 14 week ascending base last Friday on a huge volume surge as S&P upgraded its ratings. This week it is testing back in the general market weakness, coming back to tap at the 18 day EMA (86.47) on the Wednesday low and then rebounding to hold the 10 day EMA. Volume was lower and below average on the Wednesday pullback, indicating very little selling of this strong NASDAQ 100 stock. Excellent leader with some of the best fundamentals growth rates in the market. Looking for a good solid bounce off this test.
Volume: 484.983K Avg Volume: 517.211K
BUY POINT: $88.11 Volume=750K Target=$99.95 Stop=$85.88
POSITION: CQD JQ - Oct. $85c (60 delta) &/or Stock
http://www.investmenthouse.com/cd/micc.html
New buy points on current positions: 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/cd/ma.html
Downside:
Play Date: 06/06/2007
PRFT (Perficient--$19.85; -0.67; optionable): eBusiness software solutions
http://biz.yahoo.com/p/p/prft.html
EARNINGS: Announced 5-10-07
STATUS: Put. Taking another look at PRFT as it simply cannot gain any traction after its April peak. It tried to move back up in early May but failed to take out the prior high, tumbling through the 90 day EMA (20.74). It rebounded to end May and tried the break higher, but could not hold the move over a logjam of resistance at the 90 and 50 day EMA. Wednesday it was heading lower, breaking below the trading range to end May. Looking to move in as it heads toward the 200 day SMA (18.45). A move to the target lands a 43%ish gain.
Volume: 302.247K Avg Volume: 383.705K
BUY POINT: $19.74 Volume=385K Target=$18.55 Stop=$20.05
POSITION: UTJ SD - July $20p (-47 delta)
http://www.investmenthouse.com/cd/prft.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CELG, DRIV, GME, GOOG, ISE, MA, PCLN, NVDA, NYX
AAPL: Still moving higher and still on above average volume, so letting it continue higher for now.
GME: Testing the 10 day EMA with a tap at it on the low Wednesday. When it rebounds from this on some rising trade it can be added to.
GOOG: Took a day off after a strong, strong surge.
PCLN: Holding up very nicely in the market mush this wee.
NVDA: Showing enviable strength with a second session of strong volume.
NYX: Turning back down from the 200 day SMA on rising volume. Looks ominous.
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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