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Begin part 3 of 3
THE PLAYS
Good movers: AAPL; BIDU; CTRP; CXW; FFIV; GES; GME; GOOG; GRMN; ICE; PCLN; SPIL; TRA; WNR
New Plays:
Upside:
Play Date: 07/05/2007
HPQ (Hewlett-Packard--$45.90; +0.32; optionable): PC's, printers, etc.
http://biz.yahoo.com/p/h/hpq.html
EARNINGS: 8-16-07
STATUS: Test 50 day EMA. After a strong break higher to start May, HPQ surged up to 46 on the high. It came back to test and consolidate that move to end June, holding above the 50 day EMA (44.60) on the close. Bouncing back up this week, approaching the prior highs (46.29 intraday) though on lower volume. A technology leader, looking to step in as HPQ makes the breakout move with some volume.
Volume: 8.795M Avg Volume: 13.964M
BUY POINT: $46.32 Volume=20M Target=$53.32 Stop=$44.48
POSITION: HPQ KI - Nov. $45c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/hpq.html
Play Date: 07/05/2007
JCG (J. Crew Group--$54.44; -0.25; optionable): Men's apparel
http://biz.yahoo.com/p/j/jcg.html
EARNINGS: Last week of August
STATUS: Breakout test. A new issue a year ago. It formed its first base starting late November, a 6.5 month saucer with handle (a flatter cup with handle). JCG exploded higher to start June (earnings), rallying to 57.17 on the high. It came back to test to end June, holding near support at the 18 day EMA. It bounced last week on some solid trade and has paused the past two sessions on very low volume. Looking for it to hold this general range and we are ready to step in as it breaks higher and continues the breakout run.
Volume: 423.3K Avg Volume: 609.447K
BUY POINT: $55.31 Volume=620K Target=$64.45 Stop=$53.11
POSITION: JCG LK - Dec. $55c (50 delta, 321 OI) &/or Stock
http://www.investmenthouse.com/cd/jcg.html
Play Date: 07/05/2007
TEX (Terex--$84.58; -0.23; optionable): Heavy machinery
http://biz.yahoo.com/p/t/tex.html
EARNINGS: Last week of July
STATUS: Double bottom w/handle. TEX has formed a nice little 6 week pattern over the 50 day EMA (81.05), consolidating the last breakout and run higher from February when TEX formed a similar pattern. Nice easy low volume test the past two sessions as TEX works on the handle to its base after a nice surge higher on solid trade Monday. Excellent money flow, excellent strength. Ready to move in as TEX breaks higher again.
Volume: 580.5K Avg Volume: 1.17M
BUY POINT: $86.05 Volume=1.5M Target=$99.95 Stop=$83.05
POSITION: TEX JQ - Oct. $85c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/tex.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CELG, EDU, GME, GOOG, MA, PCLN, NVDA, VLO
NVDA: Reaching the June high on no volume. Always have to watch these second new highs that occur on no trade as they sometimes turn into a double top sell off.
VLO: Working in a 9 week lateral range, holding the 50 day SMA the past week. This is where it needs to break higher from to show this is not a broad umbrella-type top.
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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