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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: BCSI; BID; BIDU; CMI; CPHD; EDU; HAL; RATE; RIMM; SIMO; VIP
New Plays:
Upside:
Play Date: 07/14/2007
CNX (Consol Energy--$50.05; +1.66; optionable): Industrial metals
http://biz.yahoo.com/p/c/cnx.html
EARNINGS: 7-26-07
STATUS: Double bottom w/handle breakout. CNX surged higher Friday, making its breakout a day later than most as it cleared a 7 week base and moved to a new all-time high. The smaller base set up right at the prior all-time high reached last July, and a nice breakout followed. Given this year-plus base, CNX has put in its time and we are looking for it to run hard for us. Ready to move in as it continues the breakout. Excellent set up.
Volume: 2.908M Avg Volume: 2.469M
BUY POINT: $50.32 Volume=3.2M Target=$57.95 Stop=$47.54
POSITION: CNX JJ - Oct. $50c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/cnx.html
Play Date: 07/14/2007
MM (Metal Management--$48.19; -0.68; optionable): Steel & iron
http://biz.yahoo.com/p/m/mm.html
EARNINGS: Third week of August
STATUS: Cup. MM gapped higher Monday, surging off the bottom of the 7 week base it is forming. It cleared key resistance at the 50 and 90 day MA, surging again Thursday on some more strong, above average volume. Friday it did what the indices will likely do, i.e. tested back some, tapping the 50 day SMA on the low (47.65) and then rebounding to cut its losses on the session. May take a couple more days to finish the test, but want to be ready to move in as it breaks higher again as it is showing it has a lot of life in it.
Volume: 292.5K Avg Volume: 319.076K
BUY POINT: $49.04 Volume=475K Target=$56.95 Stop=$47.38
POSITION: MM JI - Oct. $45c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/mm.html
Play Date: 07/14/2007
SPSS (SPSS, Inc.--$45.64; -0.54; optionable): Application software
http://biz.yahoo.com/p/s/spss.html
EARNINGS: 7-31-07
STATUS: Breakout test. SPSS is working laterally in a tight range as the 10 day EMA (45.28) rises to meet it. It broke out from a 6 week base in to start July but it didn't show a lot of volume as it broke to a new high. After this lateral move to consolidate we are looking for SPSS to show some volume as it breaks higher for the next move. A top stock in its sector and strong earnings growth rates to go along with its nice technical position.
Volume: 86.539K Avg Volume: 293.884K
BUY POINT: $46.48 Volume=441K Target=$53.45 Stop=$44.55
POSITION: QSK LI - Dec. $45c (55 delta, 302 OI) &/or Stock
http://www.investmenthouse.com/ci/spss.html
Play Date: 07/14/2007
TSL (Trina Solar--$70.86; +4.22; optionable): Solar power products, primarily in China
http://biz.yahoo.com/p/t/tsl.html
EARNINGS: Announced 5-21-07
STATUS: Cup w/handle. TSL broke higher Friday on rising, above average volume, clearing a short handle that formed Tuesday through Thursday after it gapped higher Monday on very strong trade. The move is taking the stock out of its 12 week base, the first base TSL has formed since going public in December 2006. Ready to move in as TSL continues the break higher.
Volume: 1.875M Avg Volume: 1.221M
BUY POINT: $71.22 Volume=1.4M Target=$85.50 Stop=$67.38
POSITION: TSL LN - Dec. $70c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/tsl.html
Play Date: 07/14/2007
UA (Under Armour--$54.02; +0.78; optionable): Sportswear
http://biz.yahoo.com/p/u/ua.html
EARNINGS: 7-31-07
STATUS: Double bottom w/handle. UA exploded higher to start the month, coming off the bottom of a 12 week double bottom. It surged to 55 and then started the current pullback. It tested the 10 day EMA (51.71) on the low this past week then surged Friday on a big volume jump. It closed well off the high, but it was just testing the water at a new all-time high. Looking for UA to continue the move this week.
Volume: 2.722M Avg Volume: 1.124M
BUY POINT: $54.65 Volume=1.5M Target=$64.88 Stop=$51.65
POSITION: UA JK - Oct. $55c (50 delta) or UA JJ - Oct. $50c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/ua.html
New buy point on a current position:
Play Date: 07/14/2007
SIMO (Silicon Motion Technology--$27.92; +1.32; optionable): Semiconductors for the multimedia consumer electronics market
http://biz.yahoo.com/p/s/simo.html
EARNINGS: 7-26-07
STATUS: Test breakout. SIMO broke higher on strong volume Monday, clearing its 15 week double bottom with handle base. It then spent Tuesday through Thursday testing, tapping the 18 day EMA on the Thursday low before rebounding to cut its losses. Friday SIMO was bouncing higher again, making a new closing high on lower but average volume. Nice test of the breakout and a good start to continuing the run higher. Looking for it to clear the breakout high (28.20) on continued solid trade to give us the next entry point.
Volume: 665.429K Avg Volume: 791.706K
BUY POINT: $28.28 Volume=850K Target=$33.95 Stop=$26.32
POSITION: MQI LE - Dec. $25c (71 delta, 259 OI) &/or Stock
http://www.investmenthouse.com/ci/simo.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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trade stock
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