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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: AGU; CVX; SLB; SPWR; UA
New Plays:
Upside:
Play Date: 07/18/2007
CBEY (CBeyond Communications--$41.00; +1.07; optionable): Telecom equipment
http://biz.yahoo.com/p/c/cbey.html
EARNINGS: 8-2-07
STATUS: Ascending base. CBEY broke out in April from a 5 month cup. It formed a 6 week reverse head and shoulders and rallied nicely to mid-June. It then slipped into the current 4 week pattern. Volume surged Monday and again Wednesday as it broke higher out of the base and onto a new high. Ready to move in as it continues higher and then on the first test. Very nice newer issue (IOP November 2005).
Volume: 621.648K Avg Volume: 345.79K
BUY POINT: $41.32 Volume=450K Target=$47.95 Stop=$39.11
POSITION: QYN IH - Sept. $40c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/cbey.html
Play Date: 07/18/2007
HAL (Halliburton--$35.65; +0.35; optionable): Oil and gas equipment
http://biz.yahoo.com/p/h/hal.html
EARNINGS: 7-23-07
STATUS: Test 50 day EMA. Volume was up Friday as HAL started higher off the 50 day EMA (34.76). Good move off the bottom of its 8 week base that is actually the handle to a much larger 16 month cup with handle pattern. Call it what you want, but it is a nice base and we are ready to move in as it continues higher on some above average volume.
Volume: 15.897M Avg Volume: 18.276M
BUY POINT: $35.88 Volume=20M Target=$40.95 Stop=$34.48
POSITION: HAL JG - Oct. $35c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/hal.html
Play Date: 07/18/2007
ICON (Iconix Brand Group--$23.32; +0.93; optionable): Apparel brands
http://biz.yahoo.com/p/i/icon.html
EARNINGS: 8-1-07
STATUS: Double bottom w/handle. Volume surged Wednesday as ICON broke higher out of its 19 week base. The move is launching ICON to a new high. Love to pick off those breakouts to new highs. Strong stock (of course; it is hitting a new high) and looking to buy on this breakout and then again after it tests, holds, and starts back up again.
Volume: 1.755M Avg Volume: 985.266K
BUY POINT: $23.55 Volume=1M Target=$28.31 Stop=$22.21
POSITION: QIA KX - Nov. $22.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/icon.html
New buy point:
Play Date: 07/12/2007
MON (Monsanto--$69.62; +0.24; optionable): Ag chemicals
http://biz.yahoo.com/p/m/mon.html
EARNINGS: 8-27-07
STATUS: Test breakout. MON jumped higher last week on strong, above average volume, moving out of a 4 week lateral move. It tested this week on lower trade, gapping town toward the 10 day EMA (68.40) Wednesday, and then rebounding to close positive on the session on rising, above average volume. Strong money flow, continued good upside volume. Looking to move in as MON continues the bounce back up.
Volume: 4.226M Avg Volume: 3.34M
BUY POINT: $69.89 Volume=3.5M Target=$79.95 Stop=$67.21
POSITION: MON JM - Oct. $65c (69 delta) &/or Stock
http://www.investmenthouse.com/ct/mon.html
New buy point on current positions:
Play Date: 07/18/2007
FCX (Freeport McMoran--$93.10; +1.20; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: 7-25-07
STATUS: Test 10 day EMA. Yep, looking at another position on FCX as it comes off this latest test of the 10 day EMA (90.77). FCX broke out from a 12 month base in May and is running up the 10 and 18 day EMA. Long run on the last move, but still had a couple more bounces in it on this run. Want to see some more trade as it continues higher, but like the way it was up in the weak Wednesday market.
Volume: 7.514M Avg Volume: 9.454M
BUY POINT: $93.55 Volume=12M Target=$104.95 Stop=$90.65
POSITION: FCX KS - Nov. $95c (49 delta)
http://www.investmenthouse.com/ct/fcx.html
Play Date: 07/18/2007
VIP (Vimple Communication--$111.67; -1.33; optionable): Russian wireless telecom
http://biz.yahoo.com/p/v/vip.html
EARNINGS: 8-24-07
STATUS: Test breakout. VIP showed a hammer doji at the 10 day EMA (111.57) Wednesday as it tests the strong move higher last week. Of course it flipped back down Monday, but it held its ground at near support Wednesday when the market was weak. Looking to move in again as it rebounds from this test and resumes the run. It can fly when it gets moving.
Volume: 535K Avg Volume: 784.353K
BUY POINT: $113.33 Volume=850K Target=$125.45 Stop=$109.86
POSITION: VIQ JC - Oct. $115c (49 delta, 211 OI)
http://www.investmenthouse.com/ct/vip.html
CURRENT PLAYS:
Upside:
Play Date: 07/16/2007
ATN (Atlas Energy Resources--$37.42; -0.20; optionable): Oil and gas drilling
http://biz.yahoo.com/p/a/atn.html
EARNINGS: 8-2-07
STATUS: Breakout test. Still in the nice test of the breakout, tapping the 10 day EMA (36.94) on the low and rebounding to post a modest loss on no volume. Strong money flow is leading the way. It is ripe to make the move. To recap: ATN surged higher the first week of July, clearing a 6 week cup base. It rallied to 38.74 and then came back to test on nice, low volume. Monday ATN showed a nice tight hammer doji at the 10 day EMA. Looks ready to resume the move higher. A new issue in December 2006, ATN looks ready to run again after its first real base since its IPO.
Volume: 44.8K Avg Volume: 130.298K
BUY POINT: $38.04 Volume=200K Target=$43.95 Stop=$36.48
POSITION: ATN KG - Nov. $35c (62 delta, 85 OI) &/or Stock
http://www.investmenthouse.com/ct/atn.html
Play Date: 07/17/2007
CMC (Commercial Metals--$35.67; -0.20; optionable): Steel fabrication
http://biz.yahoo.com/p/c/cmc.html
EARNINGS: Announced 6-20-07
STATUS: Breakout test. Nice doji at the 18 day EMA on the low, making the test we wanted to see and then rebounding on volume to close flat. Looking to move in as it continues higher off of this test on some more decent trade. To recap: 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 it tested the 10 day EMA as expected.
Volume: 1.595M 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: 07/16/2007
CLF (Cleveland-Cliffs--$85.92; +0.80; optionable): Steel & iron
http://biz.yahoo.com/p/c/clf.html
EARNINGS: 7-26-07
STATUS: Cup w/handle. Volume started to move higher Wednesday and it looks as if CLF is ready to make the move out of the handle. Really nice pattern and ready to jump all over it as it continues higher. To recap: After a nice break higher to start July on some solid, above average volume that took CLF off of the 50 day EMA, CLF has started to drift laterally on below average volume. It tapped the 10 day EMA on the low and bounced modestly to recoup some losses. This is forming the handle to a 6 week base, i.e. the shakeout of the last sellers after a stock moves up off the bottom of a base. It may take a few sessions to finish the handle, but it can move very rapidly and thus we want to be ready when it makes the next break higher. Solid money flow is leading higher, and we are simply waiting for CLF to make the next move.
Volume: 1.028M Avg Volume: 1.559M
BUY POINT: $86.82 Volume=2.2M Target=$99.95 Stop=$83.77
POSITION: CLF JQ - Oct. $85c (51 delta) &/or Stock
http://www.investmenthouse.com/ct/clf.html
Play Date: 07/11/2007
CTRP (Ctrip.com International--$83.68; -0.58; optionable): Chinese travel
http://biz.yahoo.com/p/c/ctrp.html
EARNINGS: 8-15-07
STATUS: Breakout test. Still salivating on this one as it continues to tempt. Nice tight star doji at the 18 day EMA on Wednesday on very low trade. Looking for a bounce up here on some rising trade for the buy. Nice. To recap: Very nice test of the last breakout, a surge out of a short 6 week cup with handle base that was formed after the breakout in mid-May from a 15 week base. Wednesday CTRP reached way down to the 10 day EMA on the low (83.36) and rebounded, showing a nice doji with tail that often signals a pullback is over, particularly in a strong stock. Looking to move in as CTRP rebounds from another nice test of a nice breakout.
Volume: 156.153K Avg Volume: 324.877K
BUY POINT: $84.54 Volume=425K Target=$99.95 Stop=$82.48
POSITION: QCT IQ - Sept. $85c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/ctrp.html
Play Date: 07/02/2007
SMSC (Standard Microsystems--$35.66; +0.05; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/s/smsc.html
EARNINGS: Announced 6-27-07
STATUS: Test breakout. Reached lower toward the 18 day EMA (34.95) and rebounded. Volume was up a notch. SMSC still looks ready to make the break. To recap: SMSC surged out of a nicely formed 10 week reverse head and shoulders in late June on the earnings announcement, blasting higher on strong, strong volume. It made a quick test, and then was back on the move higher on a return to higher volume. Excellent. Ready to move in as SMSC continues the move higher.
Volume: 187.621K Avg Volume: 267.806K
BUY POINT: Aggressive: 36.08; Clear resistance: $36.58 Volume=300K Target=$43.95 Stop=$34.02
POSITION: SMQ JG - Oct. $35c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/smsc.html
Play Date: 07/16/2007
UCO (Universal Compression Holdings--$79.51; +1.34; optionable): Natural gas compression services
http://biz.yahoo.com/p/u/uco.html
Earnings: 8-8-07
STATUS: Reverse head and shoulders. Volume bumped higher as UCO gapped lower but reversed to close positive. Still solid, and still ready to move in as UCO makes the break higher. To recap: This pattern is a bit skewed but it is showing strength as it builds; thus the reason for the skew higher in the right 'shoulder.' UCO broke out of a 16 week cup with handle in early June then formed the current 6 week base. Strong volume the past two sessions as UCO held the 10 day EMA (78.99). Money flow is leading higher and looking for continued solid volume as UCO makes its next break higher toward a new all-time high.
Volume: 426.9K Avg Volume: 457.925K
BUY POINT: $80.88 Volume=650K Target=$94.95 Stop=$77.94
POSITION: UCO KP - Nov. $80c (51 delta, 134 OI) &/or Stock
http://www.investmenthouse.com/ct/uco.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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