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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: ASIA; FLIR; GRMN; IOC; RATE; SIMO; VIP
New Plays:
Upside:
Play Date: 06/25/2007
GMRK (Gulfmark Offshore--$52.12; -0.95; optionable): Oil and gas service company
http://biz.yahoo.com/p/g/gmrk.html
EARNINGS: Announced 4-30-07
STATUS: Double bottom w/handle. Nice lateral move over the 10 day EMA the past week as GMRK forms the handle to its 8 week base. Nice use of the 50 day EMA on the last leg lower as support that bounced it back up. This base consolidates the late February breakout and run up the 10 day EMA on into this base. It is set up well for the next break higher. Just looking for the clear break higher on strong trade.
Volume: 316.803K Avg Volume: 256.916K
BUY POINT: $53.78 Volume=385K Target=$64.50 Stop=$51.31
POSITION: GIU JJ - Oct. $50c (65 delta, 162 OI) &/or Stock
http://www.investmenthouse.com/ct/gmrk.html
Play Date: 06/25/2007
ICON (Iconix Brand Group--$22.11; -0.30; optionable): Branded apparel
http://biz.yahoo.com/p/i/icon.html
EARNINGS: Announced 5-1-07
STATUS: Double bottom with handle. Taking another look at ICON as it works laterally in the three week handle to its 17 week base that formed using the 90 day SMA (20.97) as support. Nice set up for a breakout to a new all-time high. Solid 5 to 2 accumulation in the pattern (5 up price weeks on rising volume to 2 down price weeks on rising volume) shows plenty of buying during the consolidation that is setting up the breakout to a new all-time high.
Volume: 548.633K Avg Volume: 984.791K
BUY POINT: $23.08 Volume=1.5M Target=$27.75 Stop=$21.74
POSITION: QIA KX - Nov. $22.50c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/icon.html
Play Date: 06/25/2007
SPTN (Spartan Stores--$31.51; -0.05; optionable): Wholesale food
http://biz.yahoo.com/p/s/sptn.html
EARNINGS: Announced 5-16-07
STATUS: Breakout test. SPTN exploded higher the second week of June, blasting out of a 17 week ascending base that formed using the 50 day EMA as support. After that explosive move took SPTN to a new all-time high it has come back to test on lower volume, holding the 10 day EMA (31.34) the past four sessions. Volume picked up Monday as it started to surge but it faded back with the market. Looks very good here for a continued run higher from the breakout.
Volume: 358.727K Avg Volume: 334.991K
BUY POINT: $32.05 Volume=500K Target=$38.50 Stop=$30.98
POSITION: QGH JF - Oct. $30c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/sptn.html
New buy point on a current position:
Play Date: 06/25/2007
CRZO (Carrizo Oil & Gas--$44.31; -0.75; optionable): Independent oil and gas
http://biz.yahoo.com/p/c/crzo.html
EARNINGS: Announced 5-9-07
STATUS: Test 18 day EMA. Looking for another run higher out of CRZO as it tests near support at the 18 day. It tested the 50 day EMA in mid-May after the breakout form a 16 week base in late March. Looking for some solid volume as it continues higher off of this test.
Volume: 792.771K Avg Volume: 635.486K
BUY POINT: $44.95 Volume=900K Target=$51.75 Stop=$43.77
POSITION: QOW JH - Oct. $45c (49 delta) &/or Stock
http://www.investmenthouse.com/ct/crzo.html
Play Date: 06/25/2007
RATE (Bankrate--$49.00; +1.27; optionable): Online banking services and products
http://biz.yahoo.com/p/r/rate.html
EARNINGS: Announced 5-2-07
STATUS: Breakout test. RATE blasted higher three weeks back, surging out of an 18 week cup with handle base, rallying on strong volume. It peaked at 51.32 last week and has tested back. Monday it undercut the 10 day EMA (47.87), tapping at the 18 day EMA on the low. It rebounded sharply on a nice jump in volume that moved back to average. Money flow is still running higher ahead of price. Showing a lot of buy side strength and looking to move in again as RATE makes the break higher.
Volume: 454.601K Avg Volume: 493.894K
BUY POINT: $49.78 Volume=741K Target=$57.45 Stop=$47.58
POSITION: QIB KJ - Nov. $50c (48 delta) or QIB HI - Aug. $45c (74 delta) &/or Stock
http://www.investmenthouse.com/ci/rate.html
Downside:
Play Date: 06/25/2007
CAL (Continental Airlines--$33.26; -0.71; optionable): Airlines
http://biz.yahoo.com/p/c/cal.html
EARNINGS: 7-19-07
STATUS: Put. CAL made a half-hearted attempt at moving higher when oil prices faded and gasoline fell as well. It rallied to the 10 day EMA (34.25), and in a massive showing of weakness it stalled. Monday CAL started heading lower again and looks ready to continue the move lower after failing to hold support at 35 that it managed to use not 1, not 2, not 3, but 4 times in the past year. That is a significant break and we are looking to ride it lower. A move to the target lands a 42%ish gain.
Volume: 2.918M Avg Volume: 4.476M
BUY POINT: $33.09 Volume=4.5M Target=$30.04 Stop=$33.68
POSITION: CAL TG - Aug. $35p (-50 delta)
http://www.investmenthouse.com/ct/cal.html
CURRENT PLAYS:
Upside:
Play Date: 06/21/2007
GME (Gamestop--$39.98; -0.08; optionable): Electronic games
http://biz.yahoo.com/p/g/gme.html
EARNINGS: Announced 5-23-07
STATUS: Test 10 day EMA. Another tight doji as GME continues its lateral move, refusing to give up any ground as it tests that strong move higher just over a week back. Excellent action, just waiting for the next break higher. To recap: GME is testing near support once again, tapping at the 10 day EMA the past week. 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: 2.155M Avg Volume: 2.301M
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: 06/23/2007
MTL (Mechel Steel Group--$38.23; -0.13; optionable): Steel and iron
http://biz.yahoo.com/p/m/mtl.html
EARNINGS: Late August
STATUS: Test breakout. Nice low volume as MTL holds above the 10 day EMA (37.55) as it continues the test of its strong break higher two weeks back. Excellent action has it in position to make the next move in its breakout run. To recap: 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: 225.8K Avg Volume: 364.334K
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--$64.50; -0.35; optionable): Online travel discounts
http://biz.yahoo.com/p/p/pcln.html
EARNINGS: 5-8-07
STATUS: Test breakout. Nice tight doji Monday at the 10 day EMA on very low, below average volume. This looks to be the extend of the pullback. What strength, what fortitude, what bad commercials. Who cares? It is set up to make the break higher. To recap: PCLN is coming back toward the 10 day EMA 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: 592.548K Avg Volume: 1.023M
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.--$28.47; -0.11; optionable): Chinese online games
http://biz.yahoo.com/p/s/snda.html
EARNINGS: Announced 5-23-07
STATUS: Flat base. Gapped lower but rebounded to flat. Volume was a bit lower but still some of the strongest in 3 weeks as SNDA bumps at the breakout point. Just need to see that volume continue higher as it makes the break. To recap: 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: 694.007K Avg Volume: 692.581K
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
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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us stock market
stock recommendation
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