us stock market, trade stock

Begin part 3 of 3

THE PLAYS:

Good movers: CMI; FCX; GRMN; OPTN; RIG; RIMM

New Post-Split:

Play Date: 06/11/2007
FLIR (Flir Systems--$40.51; +0.36; optionable): Thermal imaging and infrared camera systems
http://biz.yahoo.com/p/f/flir.html
EARNINGS: Announced 4-27-07
STATUS: Test 50 day EMA. FLIR made us some very nice green in its March through April run. A nice spring higher that peaked at 44, and after that move it needed a breather. It is currently in the sixth week of its test, coming back to the 50 day EMA (39.78) and holding at that level. That is where it bottomed in mid-May and the mid-April consolidation before it surged again. That makes this a great point to hold and resume the move. Monday volume bumped higher as FLIR started of the 50 day. Looking for some more trade and a move through the 10 and 18 day EMA (40.94) on strong volume to start the play.
Volume: 549.519K Avg Volume: 626.608K
BUY POINT: $41.08 Volume=940K Target=$48.95 Stop=$39.57
POSITION: FFQ JH - Oct. $40c (56 delta) &/or Stock
http://www.investmenthouse.com/cs/flir.html

Downside:

Play Date: 06/11/2007
XLU (Utilities ETF--$39.80; +0.52; optionable)
http://biz.yahoo.com/p/x/xlu.html
STATUS: Put. The utilities are under tremendous pressure. XLU collapsed lower in late May, recovered to the 18 day EMA (now at 40.96), and then tanked again, falling through the 90 day SMA (40.16). It rebounded with the market the past two sessions, tapping at the 90 day Monday and then fading back from there. Low low volume on that bounce. Looking for XLU to roll back over here and head down to the February/March lateral consolidation near 38. A move to the target lands a 50%ish gain.
Volume: 9.541M Avg Volume: 5.504M
BUY POINT: $39.75 Volume=1M Target=$38.25 Stop=$40.21
POSITION: XLU SN - July $40p (-50 delta)
http://www.investmenthouse.com/cs/xlu.html

Either way: This stock can go either way in the current market. It has been a market leader and has faded to key support after a long run. Whichever way it goes we will go with it.

Play Date: 06/11/2007
CLF (Cleveland-Cliffs--$79.88; -4.75; optionable): Steel and iron
http://biz.yahoo.com/p/c/clf.html
EARNINGS: Announced 4-26-07
STATUS: Test 18 day EMA. CLF surged higher to end May in a move that looks something like a climax run at the end of a 5 month run following the breakout from a cup with handle base. It bounced Friday on strong volume on the rumors X might be taken out. It was down Monday as NUE warned. One up, one down. If it breaks higher on strong volume once more we won't argue, and we will look to play the next run higher as it can obviously fly when it gets moving.
Volume: 2.145M Avg Volume: 1.14M
BUY POINT: $81.65 Volume=2.4M Target=$94.95 Stop=$78.89
POSITION: CLF JP - Oct. $80c (53 delta) &/or Stock
http://www.investmenthouse.com/cs/clf.html

Play Date: 06/11/2007
CLF (Cleveland-Cliffs--$79.88; -4.75; optionable)
http://biz.yahoo.com/p/c/clf.html
STATUS: Put. If CLF cannot hold the line here it has an easy drop to the 50 day EMA (73.84) as it that lat run was fast and furious and those tend to come back rapidly if the move has run out of gas. That move lands a 40%ish gain.
Volume: 2.145M Avg Volume: 1.14M
BUY POINT: $79.55 Volume=1.5M Target=$75.35 Stop=$80.89
POSITION: CLF SP - July $80p (-46 delta)
http://www.investmenthouse.com/cs/clf.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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