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us stock market, trade stock
Begin part 3 of 3
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/ct/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/ct/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/ct/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/ct/rimm.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/ct/prft.html
CURRENT PLAYS:
Upside:
Play Date: 06/04/2007
APC (Anadarko Petroleum--$50.30; -0.73; optionable): Independent natural gas exploration and production
http://biz.yahoo.com/p/a/apc.html
EARNINGS: Announced 4-30-07
STATUS: Double bottom w/handle breakout. Still a nice test of the Monday strong price and volume surge higher, coming back to tap at the 10 day EMA (49.80) on the low, rebounding modestly to close. Like the low volume; no dumping after the breakout and it gives us a very nice entry point. We modified the buy point to accommodate this action. To recap: The gas pocket burst Monday and gas stocks were spewing higher. APC broke higher in mid-May from a 6 month double bottom with handle base. The breakout took it up to 50, the December and September highs. There it stalled and tested near support then broke higher Monday on very strong, above average volume. This base is part of a larger pattern with highs up near 57. We are looking for a solid surge up to the target as our initial profit point. We will evaluate it then, but it looks as if APC is ready to move higher again after a nice, long base.
Volume: 4.709M Avg Volume: 5.481M
BUY POINT: $51.11 Volume=5.8M Target=$58.95 Stop=$49.88
POSITION: APC KJ - Nov. $50c (69 delta) &/or Stock
http://www.investmenthouse.com/ct/apc.html
Play Date: 06/05/2007
FISV (Fiserv--$57.37; -0.28; optionable): Transaction processing, etc.
http://biz.yahoo.com/p/f/fisv.html
EARNINGS: Announced 4-25-07
STATUS: Breakout test. Still in the test, tapping the 10 day EMA (56.81) on the Wednesday low and posting a nice rebound to recoup much of the losses. Lower volume so no dumping, just a nice pullback. It is ready to move. To recap: FISV blasted out from a 12 week double bottom of sorts last Wednesday, surging on very strong volume to a new all-time high. It is making a test the past three days, coming back to test the move, showing a doji above the 10 day EMA Tuesday on lower volume. Money flow is very strong and after this test FISV is ready to resume the breakout move. Just waiting for a bounce on continued solid volume.
Volume: 1.816M Avg Volume: 1.42M
BUY POINT: $58.05 Volume=2.1M Target=$66.75 Stop=$56.55
POSITION: FQV IK - Sept. $55c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/fisv.html
Play Date: 06/02/2007
NUE (Nucor--$67.05; -0.66; optionable): Steel and iron
http://biz.yahoo.com/p/n/nue.html
STATUS: Ascending base breakout. Another test back, tapping at the 50 day SMA (66.19) on the low and rebounding to the 10 day EMA. Lower, below average volume. No selling and NUE is still setting up nicely for that next break higher. To recap: Volume jumped to end last week as NUE made a run off a higher low in its 24 week base and started the breakout move. Volume was lower Friday, but it was still average and followed two solid above average sessions. Nice break in progress and ready to move in as it continues. It may show some weakness to start the week, and frankly that is all the better if it comes back near 68 and rebounds from there. Either way it looks solid as it breaks to a new high.
Volume: 2.734M Avg Volume: 3.513M
BUY POINT: $69.52 Volume=4.5M Target=$79.95 Stop=$66.68
POSITION: NUE JN - Oct. $70c (49 delta) &/or Stock
http://www.investmenthouse.com/ct/nue.html
Play Date: 05/26/2007
SNDA (Shanda Interactive Ent.--$27.75; -0.24; optionable): Chinese internet
http://biz.yahoo.com/p/s/snda.html
EARNINGS: Announced 5-23-07
STATUS: Ascending base. Testing the 18 day EMA (27.57) on continued low, below average volume as SNDA makes a higher low in its 15 week base. It has used the 50 day EMA (26.38) as support for the bounces, but is now making a higher low at near support; that typically precedes the breakout move. Holding up very well in the market selling, another good indication.
Volume: 554.009K Avg Volume: 723.718K
BUY POINT: $28.65 Volume=1.1M Target=$34.45 Stop=$27.31
POSITION: QKU IE - Sept. $25c (74 delta) &/or Stock
http://www.investmenthouse.com/ct/snda.html
Play Date: 06/05/2007
UPL (Ultra Petroleum--$61.62; -0.68; optionable): Independent oil and gas
http://biz.yahoo.com/p/u/upl.html
EARNINGS: Announced 5-1-07
STATUS: Cup w/handle. Nice doji with tail at the 18 day EMA (61.45) Wednesday, rebounding to hold that level on the close. Low volume so no selling, just biding its time in the handle as it sets up for the breakout when the current selling pressure subsides. Nice action. To recap: UPL is working on a 5 week handle to a 13 month base, moving laterally along the 18 day EMA as it sets up for a breakout move. Some solid Monday upside volume shows some renewed buying. Looking for this to take it out of the base, but we have to wait for it to give us a breakout move.
Volume: 735.8K Avg Volume: 975.563K
BUY POINT: $63.89 Volume=1.5M Target=$73.50 Stop=$60.55
POSITION: UPL IL - Sept. $60c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/upl.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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