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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: BIDU; DO; MA; NCTY; RIG; SLB; SPWR; WNR; IDU; ETR
New Plays:
Upside:
Upside: We looked all across the market and came up with these plays. They of course have a great technical pattern and they all have top earnings growth rates.
Play Date: 06/23/2007
MTL (Mechel Steel Group--$38.36; +0.04; optionable): Steel and iron
http://biz.yahoo.com/p/m/mtl.html
EARNINGS: Late August
STATUS: Test breakout. MTL broke sharply higher mid-month, surging out of a 10 week ascending base (calling it that because it doesn't look like much of a 'pattern' of any sort). Strong, strong volume on the break higher from the last part of the base, a 5 week double bottom at the 90 day SMA. It spent the past week testing that move on lower volume, then showing strong volume Thursday as it tapped the 18 day EMA on the low and rebounded positive. Looking for it to continue the bounce higher from here given the strong volume on the test. Solid stock both in technical pattern and the earnings growth which are some of the tops in the market.
Volume: 457K Avg Volume: 367.655K
BUY POINT: $38.76 Volume=500K Target=$46.50 Stop=$36.77
POSITION: MTL JG - Oct. $35c (70 delta, 310 OI) &/or Stock
http://www.investmenthouse.com/ct/mtl.html
Play Date: 06/23/2007
PCLN (Priceline.com--$64.85; -1.00; optionable): Online travel discounts
http://biz.yahoo.com/p/p/pcln.html
EARNINGS: 5-8-07
STATUS: Test breakout. PCLN is coming back toward the 10 day EMA (64.12) after breaking higher two weeks back as it cleared a short 5 week base. A market leader that used this base to take a breather in its continued run higher. We are looking for a full test of the 10 day EMA and then a bounce that gives us an entry point as PCLN continues its run higher. Solid stock and a solid leader in earnings growth rates.
Volume: 1.956M Avg Volume: 1.027M
BUY POINT: $65.08 Volume=1.4M Target=$74.95 Stop=$62.78
POSITION: PUZ JM - Oct. $65c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/pcln.html
Play Date: 06/23/2007
SNDA (Shanda Interactive Ent.--$28.58; +0.74; optionable): Chinese online games
http://biz.yahoo.com/p/s/snda.html
EARNINGS: Announced 5-23-07
STATUS: Flat base. Of course as soon as we took SNDA off the report it bounces up on the strongest volume in three weeks, posting a nice gain on average volume Friday. Of course the Russell rebalance probably added to the trade, but that does not take away from the great pattern. If it continues higher on stronger volume it is a buy. A top stock as well in terms of earning growth rates.
Volume: 800.557K Avg Volume: 698.42K
BUY POINT: $28.74 Volume=1.1M Target=$34.55 Stop=$26.82
POSITION: QKU IE - Sept. $25c (74 delta) &/or Stock
http://www.investmenthouse.com/ct/snda.html
Play Date: 05/30/2007
VIP (Vimple Communication--$104.65; -1.24; optionable): Russian wireless telecom
http://biz.yahoo.com/p/v/vip.html
EARNINGS: Announced 5-25-07
STATUS: Breakout test. VIP surged in mid-June out of a 12 week lateral consolidation. We were watching it, but when it faded to the 90 day SMA we dropped it. VIP then surged higher to 112. Okay. It is now testing, coming back to tap the 18 day EMA on the Friday low and recovering to hold the 10 day EMA. Nice low, below average volume test showing a tight doji with tail Friday. It is ready to continue the run higher and we are going to stay on this one and pick it up as it makes the move.
Volume: 356.4K Avg Volume: 883.52K
BUY POINT: $106.04 Volume=1.2M Target=$121.95 Stop=$103.33
POSITION: VIQ JA - Oct. $105c (52 delta)
http://www.investmenthouse.com/ct/vip.html
New buy points on current positions: Ready to pick up some more positions in leaders that are ready to move. Why not stick with proven winners?
Play Date: 06/23/2007
ICE (Intercontinental Exchange--$155.52; -3.03; optionable)
http://biz.yahoo.com/p/i/ice.html
EARNINGS: Announce 5-2-07
STATUS: Test 10 day EMA. ICE faded Friday to the 10 day EMA (154.40) on lower, below average volume, testing the solid breakout just over a week back. This low volume test is giving us a new entry point on this stock that can fly like the wind (couldn't really say it can flow like ice). Looking for the bounce on stronger volume.
Volume: 2.809M Avg Volume: 3.517M
BUY POINT: $158.75 Volume=4.5M Target=$178.95 Stop=$154.32
POSITION: IHH IK - Sept. $155c (57 delta)
http://www.investmenthouse.com/ct/ice.html
Play Date: 06/23/2007
MR (Mindray Medical Intl.--$30.05; -0.05; optionable): Medical instruments in China
http://biz.yahoo.com/p/m/mr.html
EARNINGS: Announced 5-15-07
STATUS: Test breakout. MR is a bit volatile, but volatile with an uptrend. It was a new issue here in September 2006. It broke out from a 13 week cup with handle base to start June. It came back to test the 18 day EMA (28.93) and then shot higher Tuesday on strong trade. It finished the week quietly, holding the gains and showing a doji on the 10 day EMA with very low trade. Nice fundamentals and a good position to break higher and give us a great entry point.
Volume: 391.1K Avg Volume: 631.332K
BUY POINT: $30.72 Volume=954K Target=$38.95 Stop=$28.88
POSITION: MR JF - Oct. $30c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/mr.html
CURRENT PLAYS:
Upside:
Play Date: 06/20/2007
ASIA (Asiainfo Hldgs--$9.42; +0.01; optionable): Telecom software security products in China
http://biz.yahoo.com/p/a/asia.html
EARNINGS: Announced 4-26-07
STATUS: Breakout test. Volume exploded Friday, but that was rebalancing volume. Outside of that, some very solid action as it tested lower toward the 18 day EMA and rebounded to flat. Good shakeout and leaves ASIA is excellent position to surge higher and give us a buy as it resumes the run. To recap: ASIA blasted higher two Thursdays back on strong volume, making the second break higher from its 19 week base that formed using the 90 day SMA (7.74) as support. Both breaks were on strong volume, showing the buyers are surging into the stock as it starts these moves. It is coming back to test its move to a four year high, still above the 10 day EMA (9.26) as it faded back on lower and lower volume, falling to average Wednesday. Looking for ASIA to fully test the 10 day EMA and then rebound to give us an entry point on the next run higher in this nice breakout.
Volume: 4.019M Avg Volume: 358.12K
BUY POINT: $9.45 Volume=400K Target=$11.55 Stop=$8.91
POSITION: EUJ JB - Oct. $10c (45 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/asia.html
Play Date: 06/21/2007
GME (Gamestop--$40.06; +0.01; optionable): Electronic games
http://biz.yahoo.com/p/g/gme.html
EARNINGS: Announced 5-23-07
STATUS: Test 10 day EMA. Nice tight doji that tapped the 10 day EMA on the low and rebounded to close flat. This is part of an ongoing test of the strong surge higher the prior week. The doji indicates it is at the bottom of the pullback, so we look for a rebound this week on some rising trade. To recap: GME is testing near support once again, tapping at the 10 day EMA (39.02) last Thursday low then bouncing smartly on rising, average volume. This is one of the periodic tests of the near support it makes as it trends higher after testing the 50 day EMA in mid-May. We are looking for a couple more of these bounces on this run. Showing excellent price/volume action (i.e. higher volume on the upside sessions, lower volume on the down sessions), showing the buyers are in control. Ready to move in as it continues higher.
Volume: 1.899M Avg Volume: 2.275M
BUY POINT: $40.57 Volume=2.5M Target=$48.75 Stop=$38.57
POSITION: GME JH - Oct. $40c (58 delta) &/or Stock
http://www.investmenthouse.com/ct/gme.html
Play Date: 06/21/2007
VSEA (Varian Semiconductor--$41.32; +0.54; optionable): Chip equipment
http://biz.yahoo.com/p/v/vsea.html
EARNINGS: Announced 4-26-07
STATUS: Test 50 day EMA. VSEA moved up Friday on tremendous volume, but we know what we can do with that. The more important feature is the excellent pullback to test the 50 day EMA that has set up a run higher. If this move from Friday continues we are ready to move in. To recap: A nice winner for us earlier in the year, VSEA has fully filled its last gap higher from late April, the exhaustion gap on that move. With the chips starting to move we are looking for VSEA to start a move off of this support and resume its role. Volume was up close to average Thursday as it bounced up off the 50 day. Want to see some strong volume as it continues higher.
Volume: 12.924M Avg Volume: 2.26M
BUY POINT: $41.38 Volume=3M Target=$48.95 Stop=$39.25
POSITION: USJ KH - Nov. $40c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/vsea.html
Play Date: 06/21/2007
WFT (Weatherford International--$58.10; +0.37; optionable): Oil and gas service company
http://biz.yahoo.com/p/w/wft.html
EARNINGS: Announced 4-25-07
STATUS: Test breakout. Another stock showing strong volume Friday as it tested lower and rebounded for a modest gain. Very nice action in the test of near support after that break higher just over a week back. Looking for continued solid trade as WFT breaks higher once more. To recap: WFT broke higher from a short 5 week double bottom, then dumped back to the 18 day EMA (55.75) on last Wednesday. It held and rebounded on more strong volume Thursday. This is part of a much larger 15 month double bottom with handle base, and this action is setting up the breakout to a new all-time high. Have to really like that action. Looking for the good volume to continue as WFT makes its break.
Volume: 15.268M Avg Volume: 4.401M
BUY POINT: $58.48 Volume=5.5M Target=$67.45 Stop=$55.55
POSITION: WFT KK - Nov. $55c (68 delta) &/or Stock
http://www.investmenthouse.com/ct/wft.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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