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Begin part 3 of 3
THE PLAYS
Good movers: CBEY; DO; FCX; FLIR; GRMN; ICE; LYO; MON; MRO; ONMI; SLB; SPN; XTO; CLF
New Plays:
Upside:
Play Date: 06/14/2007
CCJ (Cameco--$53.76; +1.72; optionable): Industrial metals
http://biz.yahoo.com/p/c/ccj.html
EARNINGS: 7-27-07
STATUS: Test 18 day EMA. Taking another run at CCJ. It broke out in April from a year long base and this is the start of its third bounce off the 18 day EMA. It should have 2 to 3 more solid bounces ahead of it. The Thursday action was a solid upside move on rising though still below average volume. the start of its third bounce off the 18 day EMA. It should have 2 to 3 more solid bounces ahead of it. The Thursday action was a solid upside move on rising though still below average volume. Looking to move in as it continues higher.
Volume: 2.634M Avg Volume: 2.927M
BUY POINT: $54.05 Volume=3M Target=$62.00 Stop=$51.65
POSITION: CCJ IJ - Sept. 50c (67 delta) or CCJ LK - Dec. $55c (47 delta) &/or Stock
http://www.investmenthouse.com/ct/ccj.html
Play Date: 06/14/2007
CXW (Corrections Corp of America--$64.51; +0.51; optionable): Private prisons. Splits 2:1 on 7-9-07
http://biz.yahoo.com/p/c/cxw.html
STATUS: Test 18 day EMA. CXW broke higher from a 7 month base on base pattern in late April, and it is starting its third bounce off the 18 day EMA as it moves toward its July split date. It is still working laterally here, setting up nicely for the next break higher. It will likely be explosive so we are going to be ready to move in quickly when it hits the buy.
Volume: 285K Avg Volume: 424.128K
BUY POINT: $64.89 Volume=425K Target=$72.95 Stop=$63.54
POSITION: CXW IM - Sept. $65c (51 delta) or CXW HL - Aug. $60c (69 delta, no OI) &/or Stock
http://www.investmenthouse.com/ct/cxw.html
Play Date: 06/14/2007
MUR (Murphy Oil--$59.31; +0.32; optionable): Oil and gas refining, marketing
http://biz.yahoo.com/p/m/mur.html
EARNINGS: Announced 4-25-07
STATUS: Breakout test. MUR is working through a 4 week trading range from 58 to 60. This move is consolidating a strong run that took it out of a 13 month base. It cleared the January 2006 high on the May surge. Volume exploded higher Thursday as MUR gapped higher. Looking for a break over 60 on some solid volume.
Volume: 3.146M Avg Volume: 1.377M
BUY POINT: $60.08 Volume=2.1M Target=$69.50 Stop=$57.95
POSITION: MUR JL - Oct. $60c (47 delta) &/or Stock
http://www.investmenthouse.com/ct/mur.html
Downside:
Play Date: 06/14/2007
IDU (Utilities ETF--$98.19; +0.39; optionable): Utilities ETF
http://biz.yahoo.com/p/i/idu.html
STATUS: Put. IDU (the utilities) collapsed two weeks back, falling through the 90 day SMA (98.11) on that move. It rebounded the past week, trying to move through the 90 day Thursday on lower, average trade. Looking for it to roll over again and make its third run lower. Looking for a turn back down to move in for a run to the target and a 42%ish gain.
Volume: 86.2K Avg Volume: 85K
BUY POINT: $97.77 Volume=100K Target=$95.25 Stop=$98.38
POSITION: IDU ST - July $98p (-49 delta)
http://www.investmenthouse.com/ct/idu.html
Play Date: 06/14/2007
NEM (Newmont Mining--$39.85; +0.13; optionable): Gold
http://biz.yahoo.com/p/n/nem.html
EARNINGS: 8-2-07
STATUS: Put. NEM is in a continuing downtrend. It sold down the 18 day EMA (40.15) in May and then rebounded to end May and start June. It moved up to the 50 day EMA, coming up for air after the sharper downtrend. That stalled it and the selling began anew. It is now bouncing up to test the 18 day EMA again, and we anticipate it failing there resuming the trend down below the 18 day. A move to the target lands a 40%ish gain.
Volume: 5.525M Avg Volume: 7.401M
BUY POINT: $39.68 Volume=7.4M Target=$37.65 Stop=$40.25
POSITION: NEM UH - Sept. $40p (-43 delta)
http://www.investmenthouse.com/ct/nem.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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