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us stock market, stock split
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 08/01/2007
BDX (Becton Dickinson--$78.97; +2.61; optionable): Medical instruments
http://biz.yahoo.com/p/b/bdx.html
EARNINGS: 7-26-07
STATUS: Cup w/handle. Very neat little 12 week cup with handle base has formed. Nice surge on the earnings, then a test of near support in the market selling. Wednesday another big upside session on strong volume. Very nice action with strong money flow leading higher. Nice.
Volume: 1.947M Avg Volume: 1.12M
BUY POINT: $79.22 Volume=1.5M Target=$91.45 Stop=$76.88
POSITION: BDX LP - Dec. $80p (50 delta) &/or Stock
http://www.investmenthouse.com/ct/bdx.html
Play Date: 08/01/2007
CTXS (Citrix Systems--$36.30; +0.13; optionable): Internet info access software
http://biz.yahoo.com/p/c/ctxs.html
EARNINGS: 7-18-07
STATUS: Breakout test. CTXS is working on a nice 15 month cup base, and after gapping higher on earnings it has used the market selling to test, forming a handle to that base. It has filled the gap on earnings, showing a doji Wednesday at the 18 day EMA. Like how it has filled the gap and rebounded to hold near support as most stocks in the market broke apart. Excellent money flow and love this set up for a break higher to jump all over.
Volume: 2.135M Avg Volume: 2.853M
BUY POINT: $37.65 Volume=3.2M Target=$44.95 Stop=$35.55
POSITION: XSQ LG - Dec. $35c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/ctxs.html
Play Date: 08/01/2007
LMT (Lockheed Martin--$101.70; +3.22; optionable): Defense, aerospace
http://biz.yahoo.com/p/l/lmt.html
EARNINGS: Announced 7-24-07
STATUS: Breakout test. You could call this a handle forming the past week in market selling, holding at the 18 day EMA on the test. Then a big bounce Wednesday. Looks ready to make that breakout move once more, and its 6 month cup base is a very solid foundation for LMT to take flight and make us some great money.
Volume: 2.775M Avg Volume: 2.125M
BUY POINT: $103.22 Volume=3.2M Target=$118.75 Stop=$98.45
POSITION: LMT LT - Dec. $100c (59 delta) &/or Stock
http://www.investmenthouse.com/ct/lmt.html
Play Date: 08/01/2007
LRCX (Lam Research--$57.91; +0.07; optionable): Chip equipment
http://biz.yahoo.com/p/l/lrcx.html
EARNINGS: Announced 7-24-07
STATUS: Breakout test. Another leader that used the market selling to test its breakout, not giving up its pattern, ready to move higher when the selling abated. Strong breakout from an 8 month reverse head and shoulders base, and a good test that held the 18 day EMA (56.58) on the low. Just waiting for the break higher.
Volume: 3.255M Avg Volume: 3.099M
BUY POINT: $59.12 Volume=4.5M Target=$67.98 Stop=$56.38
POSITION: LMQ LL - Dec. $60c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/lrcx.html
Play Date: 08/01/2007
PKI (Perkinelmer--$28.10; +0.27; optionable): Medical instruments
http://biz.yahoo.com/p/p/pki.html
EARNINGS: Announced 7-26-07
STATUS: Breakout test. Nice surge out of a 7 week ascending base on the earnings news. It showed amazing resilience during the selling, tapping at the 10 day EMA (27.54) on the Wednesday low and bouncing positive. Solid volume. Looks ready to surge higher off of this test and give us a nice buy point.
Volume: 1.182M Avg Volume: 750.172K
BUY POINT: $28.42 Volume=1.1M Target=$32.89 Stop=$27.08
POSITION: PKI LE - Dec. $25c (72 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/pki.html
CONTINUING PLAYS:
Play Date: 07/30/2007
ALGN (Align Tech--$25.95; -0.15; optionable): Invisalign system for straightening teeth
http://biz.yahoo.com/p/a/algn.html
EARNINGS: 7-25-07
STATUS: Test breakout. Nice doji at the 18 day EMA Wednesday after ALGN has filled the prior gap. Looking for the bounce to give us the buy. To recap: 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: 1.077M Avg Volume: 980.667K
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/ct/algn.html
Play Date: 07/30/2007
SJR (Shaw Communications--$47.60; +0.07; no options): Broadband cable, internet, etc. in US, Canada.
http://biz.yahoo.com/p/s/sjr.html
EARNINGS: 7-13-07
STATUS: Test breakout. Nice test lower and rebounded on huge volume to hold the 18 day EMA. Good shakeout and ready to make the move higher. To recap: SJR broke higher in early July and rallied nicely up the 10 day EMA. 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 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: 2.579M Avg Volume: 152.738K
BUY POINT: $50.15 Volume=221K Target=$57.95 Stop=$48.22
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/sjr.html
Play Date: 07/31/2007
SPN (Superior Energy--$40.57; +0.25; optionable): Oil and gas service company
http://biz.yahoo.com/p/s/spn.html
EARNINGS: 7-30-07
STATUS: Ascending base. Gapped higher Wednesday on solid volume, but just a modest gain. Still looks very nice for the breakout move. To recap: Good earnings shot SPN higher and over its mid-June high. With this market, however, it could not hold the move. Very nice 10 week base has formed over the 50 day EMA with a tap at the 90 day SMA on Monday and a good recovery. Excellent pattern and looking for SPN to reload and break higher again, giving us a breakout that holds; a superior move.
Volume: 1.748M Avg Volume: 963.925K
BUY POINT: $41.88 Volume=1.5M Target=$48.22 Stop=$39.22
POSITION: SPN LH - Dec. $40c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/spn.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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us stock market
stock split
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