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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Good movers: BTJ; DO; FCX; HRS; PCLN; SLB
New Plays:
Upside:
Play Date: 07/21/2007
CMED (China Medical Technologies--$34.11; -0.21; optionable): Medical instruments
http://biz.yahoo.com/p/c/cmed.html
EARNINGS: Announced 6-18-07
STATUS: Test breakout. CMED exploded higher in mid-June on its earnings result, gapping it out of a big 17 month base. We were watching it at the time and the gap didn't give us anything to buy into. It has come back to test, however, holding above the 10 day EMA (33.55) on last week's lows. Volume was very low on the fade, showing no sellers, just a few profit takers after the break higher. We are looking for the next break higher on rising trade to enter this strong stock. Another play with some of the best earnings growth rates in the market right now.
Volume: 469.075K Avg Volume: 597.23K
BUY POINT: $35.15 Volume=896K Target=$41.95 Stop=$33.38
POSITION: QCY LG - Dec. $35c (47 delta) &/or Stock
http://www.investmenthouse.com/ct/cmed.html
Play Date: 07/21/2007
RIO (Companhia Vale Do Rio Doce--$50.97; -0.84; optionable): Steel and iron
http://biz.yahoo.com/p/r/rio.html
EARNINGS: 7-31-07
STATUS: Test breakout. After a massive breakout and run from January to May, RIO turned a bit choppy, bobbing up and down in an 8 week trading range that lasted through early July. Just over a week back it gapped out of that range on strong volume then spent last week moving laterally on lower volume, testing the move as the 10 day EMA (50.34) played catch-up. Like how it refused to give any of the gains back on that move, instead consolidating in place. Now that the 10 day EMA has caught it we are looking for RIO to make the next break higher as the 10 day is often the catalyst after this kind of breakout and test.
Volume: 8.867M Avg Volume: 10.352M
BUY POINT: $51.96 Volume=12M Target=$61.95 Stop=$49.95
POSITION: RIO LJ - Dec. $50c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/rio.html
Play Date: 07/21/2007
STLD (Steel Dynamics--$47.63; -0.14; optionable): Steel processing
http://biz.yahoo.com/p/s/stld.html
EARNINGS: 7-23-07
STATUS: Double bottom w/handle. STLD is tapping at the breakout from its 10 week base. Deep test to end June but that was just the lower leg, the penultimate shakeout. It reversed and rallied to 47 where it started to slide laterally and form the handle, the last shakeout in the pattern. Started to move last Wednesday but volume was still well below average. Need to see that trade spike up as it moves higher and makes a clean breakout. That move will take it to a new high where there is no resistance.
Volume: 2.087M Avg Volume: 1.873M
BUY POINT: $48.65 Volume=2.5M Target=$57.45 Stop=$46.46
POSITION: RQL KI - Nov. $45c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/stld.html
Play Date: 07/21/2007
WHQ (W-H Energy Services--$66.20; +0.84; optionable): Oil and gas service company
http://biz.yahoo.com/p/w/whq.html
EARNINGS: 7-26-07
STATUS: Ascending base. Strong volume Friday as WHQ rallied on the coattails of the SLB earnings. The move started toward the breakout from its current 10 week base that used the 50 day EMA as support as it made higher lows. Nice consolidation base of the late April breakout and surge from a larger 9 month double bottom with handle. May test back to start this week, shaking out a bit before continuing higher. Very nice pattern and another stock that has some of the better earnings growth rates in the market.
Volume: 593.1K Avg Volume: 404.569K
BUY POINT: $67.12 Volume=450K Target=$79.95 Stop=$63.94
POSITION: WHQ JM - Oct. $65c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/whq.html
New buy point on current position:
Play Date: 07/21/2007
BIDU (Baidu.com--$189.50; -8.69; optionable): Chinese internet search
http://biz.yahoo.com/p/b/bidu.html
EARNINGS: 7-25-07
STATUS: Test 18 day EMA. BIDU had a tough week last week as it came back on the GOOG news. It had a strong, strong run behind it, so the test was rather normal. It also held the 18 day EMA (189.71) on the close, a typical place for a strong stock to start a new run. Earnings in April triggered this massive run and our gains in the stock. Now we are looking for some more life off of this test. GOOG's earnings were down but we don't expect the same from BIDU and thus we are looking to get in ahead of the results, sooner if it starts back up before then.
Volume: 4.396M Avg Volume: 2.888M
BUY POINT: $192.45 Volume=5M Target=$219.95 Stop=$185.89
POSITION: BDU IR - Sept. $190c (57 delta) or BDU LS - Dec. $195c (51 delta)
http://www.investmenthouse.com/ct/bidu.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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