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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 08/21/2007
AAPL (Apple Computer--$127.57; +5.35; optionable): iPods
http://biz.yahoo.com/p/a/aapl.html
EARNINGS: 7-25-07
STATUS: AAPL is coming off the 90 day SMA after finally selling off after its big run. It took a long time to crack but it did and it was able to work off some froth. Tuesday it received a table pounding upgrade and it bounced off this test of 120 (where there is a lot of support from June) on strong, above average volume. It cleared the 50 day EMA but still need to see a continued strong move to enter positions. Looks to be ripening again.
Volume: 46.537M Avg Volume: 39.472M
BUY POINT: $128.75 Volume=45M Target=$148.00 Stop=$125.31
POSITION: APV AF - Jan. $130c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/aapl.html
Downside:
Play Date: 08/21/2007
BBY (Best Buy--$44.09; +0.22; optionable): Electronics stores
http://biz.yahoo.com/p/b/bby.html
EARNINGS: 9-18-07
STATUS: Put. BBY is in a steady downtrend, continuing lower and lower as it rides the moving averages. It last tested the 50 day EMA (45.51) two weeks back and failed, dropping hard once more in last week's selling. After the Thursday reversal day it has made it back up to the 10 and 18 day EMA, tapping at the 18 day EMA the past two sessions on the highs on very low volume. Looking for it to continue lower from this test of near resistance. A move to the target lands a 45%ish gain.
Volume: 4.192M Avg Volume: 7.011M
BUY POINT: $43.64 Volume=7M Target=$41.55 Stop=$44.52
POSITION: BBY VI - Oct. $45c (-57 delta)
http://www.investmenthouse.com/ct/bby.html
CONTINUING PLAYS:
Downside:
Play Date: 08/20/2007
AMD (Advanced Micro Devices--$12.17; +0.07; optionable): Semiconductors
http://biz.yahoo.com/p/a/amd.html
EARNINGS: 7-1-07
STATUS: Put. Gapped higher but on very low volume as AMD shows another doji below the 10 day EMA (12.41). Waiting for AMD to roll over and give us the downside play. To recap: AMD remains massively weak despite the recovery earlier of the semiconductors. It fell hard from the 10 day EMA (12.46) last week, then rebounded Thursday through Monday, coming back to tap near the 10 day Monday. Showed a doji on lower, below average volume, an indication it is ready to turn back down. Looking for a further turn back down from the 10 day. Another run lower to the target lands a 50%ish gain.
Volume: 13.166M Avg Volume: 29.106M
BUY POINT: $11.95 Volume=30M Target=$10.95 Stop=$12.32
POSITION: AMD VN - Oct. $12p (-43 delta)
http://www.investmenthouse.com/ct/amd.html
Play Date: 08/18/2007
SPY (S&P Depository Receipts--$144.93; +0.29; optionable)
http://biz.yahoo.com/p/s/spy.html
STATUS: Put. Tried the 200 day SMA (145.58) on the high but fell back from there again on low trade. Don't like shorting a quiet market, but if the market starts back down, SPY is primed to make us some money as it does. To recap: Another downside that we are ready to reload on and take advantage of if it rolls over again. After that plunge lower last week to 137 on the low it gapped higher on the Fed action, opening just below the 200 day SMA. It tried to move through that level but it could not hold it on the close. It did hold the 10 day EMA (144.65) on the close, but that is not the key moving average here. If SP500 cannot move up through the 200 day and hold we are going to look to play it on the next downside move. A run to the initial target lands a 39%ish gain. If the financials are in full flight again at that point we will, of course, let it continue to run.
Volume: 155.799M Avg Volume: 236.373M
BUY POINT: $144.48 Volume=235M Target=$140.35 Stop=$145.72
POSITION: SFB UO - Sept. $145p (-46 delta)
http://www.investmenthouse.com/ct/spy.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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