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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Good movers: ILMN; VDSI; WFR
New Plays: Looking for an upside bounce and looking at some very strong stocks that held up in the selling as they will be leaders in any rebound. After a rebound we can look at some downside as well.
Upside:
Play Date: 07/26/2007
CPO (Corn Products--$45.10; +0.06; optionable): Food ingredients, industrial products from . . . corn
http://biz.yahoo.com/p/c/cpo.html
EARNINGS: Announced 7-24-07
STATUS: Test 50 day EMA. CPO broke out from a 5 month base in late April on a strong earnings report and ran higher up the 18 day EMA through the end of June. It needed a test after that move and faded on low volume back to the 50 day EMA (42.75) in a nice, orderly move. It announced earnings and then gapped higher Tuesday on strong volume. In the market selling it has moved laterally, refusing to give up any gains. Nice strength. Looking for that to turn into more upside as it continues higher and gives us the buy point.
Volume: 1.462M Avg Volume: 707.556K
BUY POINT: $46.44 Volume=1.1M Target=$53.45 Stop=$43.88
POSITION: CPO JI - Oct. $45c (52 delta) &/or Stock
http://www.investmenthouse.com/cd/cpo.html
Play Date: 07/26/2007
GSF (Globalsantafe--$75.00; -2.09; optionable): Offshore drilling
http://biz.yahoo.com/p/g/gsf.html
EARNINGS: 8-1-07
STATUS: Breakout test. GSF has made us good money on its run higher, and as it tests the Monday gap higher after announced a merger with RIG it has tested back, using the market selling to fill the gap. That is setting it up for the next move higher as it has shown great strength even in this market selling, using it for its own purposes. We are looking to move in and catch GSF as it continues back up. Two sectors of the oil portion of energy held up (drilling and services), and GSF is on the first and is set up to move again.
Volume: 8.012M Avg Volume: 4.988M
BUY POINT: $76.22 Volume=6M Target=$87.85 Stop=$74.11
POSITION: GSF JO - Oct. $75c (49 delta) &/or Stock
http://www.investmenthouse.com/cd/gsf.html
Play Date: 07/26/2007
PFWD (Phase Forward--$17.52; -0.48; optionable): Software for use in clinical trial and drug safety monitoring
http://biz.yahoo.com/p/p/pfwd.html
EARNINGS: Announced 7-24-07
STATUS: Test breakout. PFWD surged higher Wednesday on tremendous volume as it announces strong earnings results. Thursday it tested back to the 18 day EMA on the low, but then rebounded, doing a very good job of recovering in a weak market. The break higher finally gave PFWD a clear break from a 7 month cup with handle. We are looking to move in as it continues back up off of this test.
Volume: 511.54K Avg Volume: 314.811K
BUY POINT: $18.11 Volume=400K Target=$21.95 Stop=$16.84
POSITION: UTO JW - Oct. $17.50c (52 delta) &/or Stock
http://www.investmenthouse.com/cd/pfwd.html
New buy point on a current position:
Play Date: 07/26/2007
HAL (Halliburton--$36.87; -0.68; optionable): Oil services
http://biz.yahoo.com/p/h/hal.html
EARNINGS: Announced 7/23/07
STATUS: Test breakout. HAL gapped higher Monday on strong volume, clearing a 9 week cup base on some strong earnings. In the subsequent selling it has come back to test, tapping all the way down at the 50 day SMA on the Thursday low (35.63) and then recovering for a modest loss. Nice shakeout and HAL is set up well to continue the break higher.
Volume: 20.364M Avg Volume: 17.566M
BUY POINT: $37.82 Volume=20M Target=$43.50 Stop=$35.98
POSITION: HAL JT - Oct. $37.50c (50 delta) &/or Stock
http://www.investmenthouse.com/cd/hal.html
Continuing plays still looking solid:
NVDA
CSCO
TRMB
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
AKAM: Nasty gap lower on earnings.
CELG: Gapped higher on earnings, clearing the 50 day SMA on the move. Now we see if this move can hold and build back higher and form the right side of the base.
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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us stock market
stock recommendation
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