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stock split, stock option
Begin part 3 of 3
*NOTE: Part 2 will be forwarded after part 3 this evening.
THE PLAYS
New Plays: Again looking for an upside bounce and looking at some very strong stocks that still held up in the selling last week and are in good shape after Monday. After a rebound we can look at some downside as well.
Upside:
Play Date: 07/30/2007
ALGN (Align Tech--$27.01; -0.07; optionable): Invisalign system for straightening teeth
http://biz.yahoo.com/p/a/algn.html
EARNINGS: 7-25-07
STATUS: Test breakout. ALGN is testing back after gapping higher on its earnings results announced last week. That gap higher took ALGN out of a nicely formed 11 week base with a very flat, tight lateral move from mid-July. Great break higher from a solid pattern, filling the gap Monday on the intraday low (26.36) and then a rebound to close flat. Now that it has filled the gap we will see if ALGN can run for us. It has a great trend but it tends to gobble up ground in a hurry; with this test it is giving us a better entry point than some of the prior moves. Like the test and the fact that it reported solid earnings already.
Volume: 868.805K Avg Volume: 984.336K
BUY POINT: $27.77 Volume=1.2M Target=$33.38 Stop=$2597.00
POSITION: CUA JE - Oct. $25c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/algn.html
Play Date: 07/30/2007
OIH (Oil Services Hldrs Trust--$179.12; +1.12; optionable)
http://biz.yahoo.com/p/o/oih.html
STATUS: Test 50 day EMA. OIH is getting right for a buy again so it can once more make us some money. It broke out from a year long base in April and ran higher up the 18 day EMA (180.73). After 5 bounces up the 18 day EMA, it needed a deeper test and has come back to the 50 day EMA (174.93) to test, tapping that level on the Monday intraday low and then bouncing back up nicely. That is what you like to see off the 50 day, and we are looking to move in as OIH continues higher after re-setting its rally with this test of key support.
Volume: 11.433M Avg Volume: 9.828M
BUY POINT: $181.68 Volume=12M Target=$198.95 Stop=$177.55
POSITION: ODL JP - Oct. $180c (55 delta)
http://www.investmenthouse.com/ci/oih.html
Play Date: 07/30/2007
SJR (Shaw Communications--$48.97; -0.38; no options): Broadband cable, internet, etc. in US, Canada.
http://biz.yahoo.com/p/s/sjr.html
EARNINGS: 7-13-07
STATUS: Test breakout. SJR broke higher in early July and rallied nicely up the 10 day EMA (48.61). It surged Thursday and then reversed on the session, indicating it needed a pullback to set up for its next move higher. Nice fade back to the 10 day EMA (48.61) on the Monday low and we are looking for SJR to continue the run. It just split and it did not give up any ground other than this little test. Looking for a bounce from here to start it up again and to show us it is time to move in.
Volume: 219.8K Avg Volume: 147.362K
BUY POINT: $50.15 Volume=221K Target=$57.95 Stop=$48.22
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/sjr.html
Still ready to move. Many good stocks are set to move higher and provide leadership if this selling can run its course:
BBBB
FTK
NVDA
PFWD
RIMM
SNDK
TPX
End part 3 of 3
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stock split
stock option
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