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us stock market, trade stock
Begin part 3 of 3
THE PLAYS
As the market sets to bounce we are again looking at more strong leaders that tested during the market selling.
Upside:
Play Date: 08/16/2007
BLUD (Immucor--$32.49; +0.69; optionable): Diagnostic Substances
http://biz.yahoo.com/p/b/blud.html
EARNINGS: Announced 7-25-07
STATUS: Cup w/handle. Nice volume surge Thursday after a week of very low trade as BLUD worked laterally over the 10 day EMA (31.89), forming the handle to its 18 week base. It is perched just below an all-time high, setting up a sweet little pattern for a breakout. Nice money flow is running higher ahead of price even as BLUD works laterally, another sign of the accumulation in the stock. Like the volume jump and looking for more as the stock moves through the buy point.
Volume: 946.33K Avg Volume: 927.633K
BUY POINT: $33.48 Volume=1.4M Target=$39.45 Stop=$31.22
POSITION: QMQ LF - Dec. $30c (67 delta)
http://www.investmenthouse.com/ci/blud.html
Play Date: 08/16/2007
MORN (Morningstar--$59.16; +1.90; optionable): Asset management
http://biz.yahoo.com/p/m/morn.html
EARNINGS: Announced 8-2-07
STATUS: Breakout test. Nice surge on the earnings to start August, breaking MORN out of a nice little 13 week cup with handle pattern. Excellent volume as it surged higher to 67, and then a nice lower volume test of the move, holding the 18 day EMA (56.86). Good test of near support and then bounced Thursday on a strong bounce in volume that took it back well above average. Strong money flow is leading the way as MORN runs higher to continue the breakout run.
Volume: 247.829K Avg Volume: 146.585K
BUY POINT: $59.65 Volume=225K Target=$69.95 Stop=$56.68
POSITION: QMR LL - Dec. $60c (51 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/morn.html
Play Date: 08/16/2007
UA (Under Armour--$60.39; +1.30; optionable): Sports clothing
http://biz.yahoo.com/p/u/ua.html
EARNINGS: Announced 7-31-07
STATUS: Breakout test. UA gapped higher on its earnings report, clearing a 16 week cup with handle base on the news. It was a big gap higher that did not give us a chance to get in, but after a run higher on that break it is testing back. Thursday it sold down to the 50 day EMA near 55 on the low and then rebounded on a strong shot of above average volume, posting a nice gain on the session close. Looking for a continued move up through the 10 day EMA (61.89) to move in. One of those leaders that is acting quite well and just sold a bit to test during the market blood letting.
Volume: 2.245M Avg Volume: 1.455M
BUY POINT: $61.94 Volume=1.8M Target=$74.45 Stop=$58.77
POSITION: UA AL - Jan. $60c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/ua.html
Play Date: 08/16/2007
WYNN (Wynn Resorts--$110.98; -3.49; optionable): Resorts & casinos
http://biz.yahoo.com/p/w/wynn.html
EARNINGS: Announced 8-6-07
STATUS: Breakout test. WYNN is another strong stock that gapped out of a base on its earnings news. It surged in early August on the report, gapping out of a 6 month double bottom with handle base. The gap made it very hard to get into, but patience has paid off as WYNN tests the move. It never sold back very hard, holding the 10 day EMA (110.90) every session until Thursday when it undercut the 18 day EMA and filled the gap. It rebounded sharply and closed at the 10 day EMA as volume ratcheted up. This doji indicates WYNN is done with the pullback and is ready to be an upside wynner for us.
Volume: 3.228M Avg Volume: 1.985M
BUY POINT: $114.65 Volume=2.9M Target=$134.95 Stop=$110.65
POSITION: UWY LC - Dec. $115c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/wynn.html
New buy point on current position:
Play Date: 08/16/2007
CPHD (Cepheid--$17.81; +0.95; optionable): Scientific instruments for testing biomarket threats, etc.
http://biz.yahoo.com/p/c/cphd.html
EARNINGS: Announced 8-6-07
STATUS: Breakout test. CPHD just made the second test of its late June breakout from an 11 week cup with handle base. Nice strong moves off of support, and Thursday was another one, bouncing nicely on stronger, above. Money flow is leading higher as CPHD stretches for a 7 year high. Very nice place to move in with new positions.
Volume: 1.161M Avg Volume: 939.649K
BUY POINT: $18.21 Volume=1.2M Target=$21.95 Stop=$16.94
POSITION: QHY LW - Dec. $17.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/cphd.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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