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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
Upside:
Play Date: 08/11/2007
BRCM (Broadcom--$32.31; -0.06; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/b/brcm.html
EARNINGS: Announced 7-19-07
STATUS: Test breakout. BRCM is working the way out of a deep base. After being a market leader through early 2006 it fell into a long, 18 month base. Over the past 9 months it has established a higher range, forming a base within a base. This past week it gapped higher clearing a 3 week handle to a shorter 6 month base within the base. Then in the Thursday and Friday selling it just eased back modestly. Very nice action setting up the next break higher in this move.
Volume: 5.097M Avg Volume: 15.127M
BUY POINT: $36.21 Volume=18M Target=$44.95 Stop=$34.88
POSITION: RCQ KG - Nov. $35c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/brcm.html
Play Date: 08/11/2007
HSIC (Henry Schein--$57.84; -2.80; optionable): Wholesale medical equipment
http://biz.yahoo.com/p/h/hsic.html
EARNINGS: Announced 8-7-07
STATUS: Breakout test. HSIC exploded from a 4 month cup with handle base early last week, surging on its strong earnings results. The move took HSIC to a new all-time high. It sold back pretty hard Friday, landing on the 10 day EMA to close. Volume was still above average but was lower than the strong upside sessions. Going to let HSIC complete its test and then be ready to move in as it makes its rebound and continues its breakout run. Very nice action.
Volume: 1.03M Avg Volume: 447.555K
BUY POINT: $58.11 Volume=700K Target=$66.95 Stop=$57.11
POSITION: HQE AK - Jan. $55c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/hsic.html
Play Date: 08/11/2007
OII (Oceaneering Intl.--$64.80; -0.75; optionable): Offshore drilling services
http://biz.yahoo.com/p/o/oii.html
EARNINGS: 8/1/07
STATUS: Test 10 day EMA. OII surged higher when a lot of energy stocks struggled, breaking higher from a 2 week lateral consolidation to start August. Surged to 70 intraday Wednesday and then in the subsequent market selling it tested its break higher, using the market weakness to take a breather. Like the strength, like the nice pullback to the 10 day EMA and then the jump off that level Friday. Looking to move in and catch OII as it continues its run higher.
Volume: 1.959M Avg Volume: 930.578K
BUY POINT: $65.65 Volume=15M Target=$78.94 Stop=$62.22
POSITION: OII AM - Jan. $65c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/oii.html
Play Date: 08/11/2007
SSYS (Stratasys--$49.44; -2.59; optionable): PC peripherals. Splits 2:1 on 8-30-07
http://biz.yahoo.com/p/s/ssys.html
EARNINGS: Announced 8-1-07
STATUS: Test breakout. Good week for SSYS as it broke higher from an 8 week base and continued higher Thursday when much of the market was weak. Friday it finally gave in to some selling, tapping the 10 day EMA on the intraday low and then bouncing back to recoup some lost ground. Nice doji on the pullback, and with the good earnings and the split we are looking for SSYS to rebound and continue its breakout move. Great strength in a weak market and in a good sector for this market as well.
Volume: 261.937K Avg Volume: 179.278K
BUY POINT: $50.32 Volume=280K Target=$58.75 Stop=$48.11
POSITION: QQG LJ - Dec. $50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/ssys.html
Play Date: 08/11/2007
SUN (Sunoco--$67.45; +3.87; optionable): Oil and gas refining
http://biz.yahoo.com/p/s/sun.html
EARNINGS: 8/1/07
STATUS: Double bottom. SUN sold off with much of the energy sector in late July, but with earnings and the start of August SUN has held the line and has formed a short two week double bottom. These short patterns in strong stocks often yield strong rebounds back toward the prior highs, and with the energy sector recovering it is in excellent position to make the rebound.
Volume: 4.814M Avg Volume: 3.311M
BUY POINT: $67.77 Volume=5M Target=$81.45 Stop=$64.89
POSITION: SUN KM - Nov. $65c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/sun.html
Play Date: 08/11/2007
WNR (Western Refining--$55.67; +2.97; optionable): Oil and gas refining
http://biz.yahoo.com/p/w/wnr.html
EARNINGS: Announced 8/9/07
STATUS: Double bottom w/handle. WNR made us some strong green in its early 2007 runs, and it needed a break after such strong moves. It peaked at 60 in July and then faded back to test, holding in a range bracketing the 50 day EMA (53.53). It has used this support to move laterally, forming a short but nice 5 week double bottom with handle base. Some ver nice upside moves on volume last week show us there are buyers in the stock Looking for the break higher on more good trade to show us the buyers are back and ready to drive WNR higher.
Volume: 1.905M Avg Volume: 1.283M
BUY POINT: $56.96 Volume=1.9M Target=$65.45 Stop=$53.38
POSITION: WNR LK - Dec. $55c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/wnr.html
Continuing plays:
Still looking at a downside plays if the market cannot continue a Fed bid.
DIA
ETFC
SIRF
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
AAPL: Continues its test lower, tapping at the June consolidation range at 120 and bouncing some. This is a key support level.
GOOG: Still working on its 4 week lateral move and overall this looks constructive as it holds the line while the market sells.
NVDA: Gapped lower on some supply concerns with its earnings and stock split, but held the 50 day EMA and bounced nicely. Still looking for new positons if it holds and makes a new bounce.
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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