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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 08/16/2007
AGE (A.G. Edwards--$81.32; +2.71; optionable): Investment brokerage
http://biz.yahoo.com/p/a/age.html
EARNINGS: 9-28-07
STATUS: Test 50 day EMA. Gapped higher in late May on earnings, moving to a new high as it did. That was the last it had left in the tank after the early April breakout and run higher from a 3 month base. It has spent the past 11 weeks testing the move as the financial sector burned. It lost ground, but it did not break down, instead holding near the 90 day SMA (80.36) the past two weeks as it started laterally. It has filled almost all of the gap, and with that we are looking for AGE to start a new rise. It held up much better than 98% of the financial sector, and that means it has a loyal following. Looking for a move up through the 50 day EMA (81.71) to give us the buy point.
Volume: 1.414M Avg Volume: 1.604M
BUY POINT: $81.78 Volume=2.2M Target=$93.95 Stop=$79.68
POSITION: AGE KP - Nov. $80c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/age.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/ct/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/ct/ua.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 recommendation
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