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Begin part 3 of 3

THE PLAYS

Good movers: HAL; HURC; MTL; PCAR

New Plays:

Upside:

Play Date: 07/23/2007
COP (ConocoPhillips--$85.63; -0.67; optionable): Integrated oil and gas
http://biz.yahoo.com/p/c/cop.html
EARNINGS: 7-25-07 before the open
STATUS: Test 18 day EMA. Nice doji Monday, tapping the 18 day EMA (84.36) on the low and rebounding to post a modest loss on a third day of below average volume. Good to see the lower trade as COP tests its last run higher off the 50 day EMA. COP broke out from a 6 month base in May, tested the 50 day in late June, and then got it in gear, rallying to 90. We are looking to use this test as an entry point and grab on to make a run for 100.
Volume: 12.133M Avg Volume: 12.254M
BUY POINT: $86.39 Volume=14M Target=$99.75 Stop=$84.21
POSITION: COP KG - Nov. $85c (60 delta) &/or Stock
http://www.investmenthouse.com/cd/cop.html

Play Date: 07/23/2007
DRQ (Dril-Quip--$49.57; +0.71; optionable): Oil and gas service company
http://biz.yahoo.com/p/d/drq.html
EARNINGS: 8-1-07
STATUS: Double bottom w/handle. DRQ broke higher last Thursday after a test of the 90 day SMA intraday Wednesday and then the rebound to the close with the market. Friday it tested; good action forming the handle to its 11 week base. This base formed after the March breakout and run up to a new high at 52. DRQ is consolidating that move and with the strength in the sector the earnings are showing, it is ready to make the next breakout to another new high. Monday it gapped higher, but it could not hold its high. Looks ready to move. Very solid and yet another stock on the report that sports some of the top earnings growth rates in the market.
Volume: 342.6K Avg Volume: 567.816K
BUY POINT: $49.75 Volume=795K Target=$58.95 Stop=$47.55
POSITION: DRQ LJ - Dec. $50c (50 delta) &/or Stock
http://www.investmenthouse.com/cd/drq.html

Play Date: 07/23/2007
RIO (Companhia Vale Do Rio Doce--$53.10; +2.13; optionable): Steel and iron
http://biz.yahoo.com/p/r/rio.html
EARNINGS: 7-31-07
STATUS: Test breakout. RIO is break higher once more, starting the week on a positive note. 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 (50.84) 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, RIO is starting to make the next break higher as the 10 day is often the catalyst after this kind of breakout and test.
Volume: 9.858M Avg Volume: 10.062M
BUY POINT: $53.24 Volume=12M Target=$62.95 Stop=$50.21
POSITION: RIO LJ - Dec. $50c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/rio.html

Play Date: 07/23/2007
STP (Suntech Power Holdings--$41.80; -0.54; optionable): Photovoltaic cells and modules
http://biz.yahoo.com/p/s/stp.html
EARNINGS: 8-9-07
STATUS: Breakout test. Big surge in late June through early July, topping out near 45 on that move. It broke out from a 16 week double bottom in early July on some excellent volume, rallying back up to its IPO highs near 45. It has paused at that level and has faded to test, holding at the 10 day EMA (41.54) on lower volume. Excellent set up to give us an entry into this strong stock that sports very strong fundamentals growth rates to go with its pattern.
Volume: 2.249M Avg Volume: 2.637M
BUY POINT: $42.88 Volume=3M Target=$49.95 Stop=$40.92
POSITION: STP LH - Dec. $40c 64 delta) &/or Stock
http://www.investmenthouse.com/cd/stp.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

CELG: Really under pressure, breaking lower toward the 200 day SMA on rising, above average volume.

EDU: Surged right back on huge trade, breaking higher off the 18 day EMA. A buy on this move.

GME: Low volume continues as GME thumped down to the 18 day EMA again. Sure want this to be just a shakeout.

GOOG: Could not continue the rebound after the Friday gap lower on earnings. Managed to close at the 50 day EMA.

NVDA: Making a good, low volume test of the 18 day EMA level.

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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