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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
Good movers: BCSI; BIDU; MR; NTGR; PQ; RIG; SPN; TRA
New Plays:
Upside:
Play Date: 06/19/2007
ATLS (Atlas America--$54.78; -0.11; no options): Oil and gas drilling
http://biz.yahoo.com/p/a/atls.html
EARNINGS: Announced 4-30-07
STATUS: Test breakout. ATLS is moving laterally on low volume, consolidating the early June surge higher. It has made two strong breaks higher starting mid-May, and it is setting up for a third. Strong money flow is leading the way higher. The moves can be explosive from this one, so when it takes off we need to be ready to move in.
Volume: 71.823K Avg Volume: 169.411K
BUY POINT: $55.65 Volume=250K Target=$63.95 Stop=$53.65
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/atls.html
Play Date: 06/19/2007
CMI (Cummins--$101.17; +4.65; optionable): Diesel engines
http://biz.yahoo.com/p/c/cmi.html
EARNINGS: Third week of July
STATUS: Test breakout. After a surge in April CMI formed a short 5 week cup with handle. It broke sharply higher to start June but then turned right back down. It worked laterally along the 10 day EMA (96.70) and then broke higher Tuesday on rising though still below average volume. Strong money flow is leading the way higher. Looking to move in as CMI continues the move.
Volume: 1.935M Avg Volume: 2.191M
BUY POINT: $101.48 Volume=2.5M Target=$116.85 Stop=$96.65
POSITION: CDM IT - Sept. $100c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/cmi.html
Play Date: 06/19/2007
CVX (Chevron-Texaco--$83.29; -0.10; optionable): Integrated oil and gas
http://biz.yahoo.com/p/c/cvx.html
EARNINGS: Announced 4-27-07
STATUS: Double bottom w/handle. CVX has set up a neat little 5 week base over the 50 day EMA (79.74) as it consolidates a nice April breakout and run from a 13 week base. Some solid price and volume moves last week set up the pattern, and now it is moving laterally the past two sessions on lower, below average volume. May take a session or two, but it looks just about ripe for the next break higher.
Volume: 7.034M Avg Volume: 9.016M
BUY POINT: $83.78 Volume=10M Target=$99.95 Stop=$81.68
POSITION: CVX IP - Sept. $80c (73 delta) &/or Stock
http://www.investmenthouse.com/cd/cvx.html
Play Date: 06/19/2007
PXP (Plains Exploration & Production--$51.34; -0.57; optionable): Independent oil and gas
http://biz.yahoo.com/p/p/pxp.html
EARNINGS: Announced 5-3-07
STATUS: Test 18 day EMA. Nice breakout in late May took PXP out of a 5.5 month range. Strong volume on the surge took it to 54. Then it turned over and fell to the 50 day EMA where it found support. That bounced it higher last week, and now it is testing, coming back to the 10 day EMA (51.09) on the Tuesday low. Good upside volume Monday, and looking for that to come back in as PXP makes a higher low here and continues the breakout run.
Volume: 584.4K Avg Volume: 1.185M
BUY POINT: $52.05 Volume=1.4M Target=$59.95 Stop=$50.65
POSITION: PXP KJ - Nov. $50c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/pxp.html
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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stock recommendation
stock option
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