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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: ALY; BIDU; CAT
New Plays:
Upside:
Play Date: 07/10/2007
ASCA (Ameristar Casinos--$35.81; -0.38; optionable): Resorts and casinos
http://biz.yahoo.com/p/a/asca.html
EARNINGS: 5-1-07
STATUS: Test 10 day EMA. ASCA is making the second test of its mid-June breakout from a 12 week double bottom with handle base. Big gap higher on strong volume and now a second low volume test of the 10 day EMA (35.62) is setting up the next bounce higher. Excellent money flow is leading the way. Just looking for the next bounce higher to move into the play so to speak.
Volume: 311.378K Avg Volume: 595.933K
BUY POINT: $36.31 Volume=700K Target=$41.95 Stop=$35.05
POSITION: UWT LG - Dec. $35c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/asca.html
Play Date: 07/10/2007
PFWD (Phase Forward--$16.77; -0.46; optionable): Software services for clinical drug trial and safety activities
http://biz.yahoo.com/p/p/pfwd.html
EARNINGS: 7-24-07
STATUS: Breakout test. PFWD looks as if it has ironed out some of its volatility it had in May. It broke higher from a 5 month cup with handle base in late May then slipped right into a lateral consolidation in June, trading in a nice tight range. It then ignited a new breakout in late June and early this month. Good volume on that move. It reached 17.50 and is now testing this week, coming back to the 18 day EMA (16.65) on the Tuesday low. Volume has dropped off on the pullback just as it should. Want to see PFWD hold in this range and then break higher on some stronger trade to show us the buyers are back. Nice test of the break to a new high and after the market pullback it is ready to move right back up.
Volume: 128.528K Avg Volume: 310.328K
BUY POINT: $16.95 Volume=425K Target=$20.45 Stop=$15.94
POSITION: UTO JC - Oct. $15c (70 delta, 33 OI) &/or Stock
http://www.investmenthouse.com/cd/pfwd.html
Play Date: 07/10/2007
PRFT (Perficient--$21.90; +1.32; optionable): IT consulting and eBusiness solutions
http://biz.yahoo.com/p/p/prft.html
EARNINGS: 8-9-07
STATUS: Reverse head and shoulders. Very strong volume Tuesday as PRFT broke sharply higher off of the 50 day EMA (20.50), clearing the right shoulder in its 7 week pattern that is part of a larger 13 week base. Surging money flow. The blast higher was because PRFT raised its Q2 revenue guidance. Looking to move in as PRFT continues higher.
Volume: 858.927K Avg Volume: 423.426K
BUY POINT: $22.05 Volume=450K Target=$26.45 Stop=$20.55
POSITION: UTJ JD - Oct. $20c (71 delta, 352 OI) &/or Stock
http://www.investmenthouse.com/cd/prft.html
Play Date: 07/10/2007
VLO (Valero Energy--$77.71; +0.76; optionable): Oil and gas refining, marketing
http://biz.yahoo.com/p/v/vlo.html
EARNINGS: 7-31-07
STATUS: Ascending base. VLO bucked the market trend Tuesday, continuing its move higher as it cleared the June highs on rising, average volume. It closed almost 1 point off the session high; it may try to pause here before continuing higher. Whether it continues higher from here or slides laterally for a few sessions we want to be ready to move in as it makes the next break higher. If it continued from here we will take a half position and then let it test the move. When it bounces from there we will buy the remaining position.
Volume: 11.524M Avg Volume: 11.629M
BUY POINT: $77.95 Volume=13M Target=$90.95 Stop=$75.08
POSITION: ZPY IO - Sept. $75c (68 delta) or ZPY LP - Dec. $80c (48 delta) &/or Stock
http://www.investmenthouse.com/cd/vlo.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
AAPL: Selling? Didn't affect AAPL
AKAM: Gapped up to the 200 day SMA on strong volume as AKAM is being added to the SP500
GME: Gapped higher and then reversed negative. Lower volume but at least there was a silver lining.
MA: Needs to find some support here as it slipped below the 18 day EMA.
NDVA: Another stock that ignored the market selling.
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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