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trade stock, stock recommendation
Begin part 3 of 3
Full report issues Wednesday
THE PLAYS
New Plays:
Upside:
Play Date: 07/17/2007
CMC (Commercial Metals--$35.87; -0.30; optionable): Steel fabrication
http://biz.yahoo.com/p/c/cmc.html
EARNINGS: Announced 6-20-07
STATUS: Breakout test. CMC gapped higher last week, moving out of a 9 week base on a strong shot of volume. It gapped higher again Monday but then reversed course and closed lower. Lower trade showed no volume selling. It continued lower Tuesday and looks as if it will test toward the 10 day EMA (35.30) before resuming the move. After that test we look to move in as it rebounds and continued the breakout.
Volume: 1.626M Avg Volume: 1.256M
BUY POINT: Test $35.25 then 35.55 on the rebound. Volume=1.8M Target=$40.95 Stop=$34.32
POSITION: CMC LG - Dec. $35c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/cmc.html
Play Date: 07/17/2007
CVX (Chevron-Texaco--$91.10; -1.02; optionable): Integrated oil and gas
http://biz.yahoo.com/p/c/cvx.html
EARNINGS: 7-27-07
STATUS: Test breakout. CVX is testing back toward the 10 day EMA (90.01) after the early July breakout from a 6 week flat base. Excellent surge higher that took CVX to a new all-time high. Looking for a full test of the 10 day and then a rebound on stronger trade to move in. One of those leaders that rallied and is making its test, setting up the next move. Note how CVX rallied on very solid upside volume and now trade is tailing off as it fades back. Unlike many energy stocks its selling volume is drying up, showing there is no wide scale dumping.
Volume: 9.742M Avg Volume: 9.583M
BUY POINT: $90.35 Volume=12M Target=$101.95 Stop=$88.88
POSITION: CVX LR - Dec. $90c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/cvx.html
Play Date: 07/17/2007
SID (Companhia Siderurgical Nacional--$56.00; -0.09; optionable): Steel processing
http://biz.yahoo.com/p/s/sid.html
EARNINGS: 7-24-07
STATUS: Breakout test. SID surged higher last Thursday when the market broke out, making the breakout from its 7 week ascending base. That base consolidated the March to May run out of a larger 10 month cup with handle pattern. It is pulling back this week on below average volume, and we are looking for SID to come back a bit more to complete the test down to the 10 day EMA (54.82). It may not make it all the way back, but when it starts to bounce back on some solid trade we are ready to enter.
Volume: 959K Avg Volume: 1.039M
BUY POINT: Test 54.85ish and then $55.25 on the rebound. Volume=1.4M Target=$63.45 Stop=$53.76
POSITION: SID LK - Dec. $55c (57 delta, 132 OI) &/or Stock
http://www.investmenthouse.com/ct/sid.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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trade stock
stock recommendation
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