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trade stock, stock split
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 08/29/2007
CIEN (Ciena--$38.42; +1.83; optionable): Telecom equipment
http://biz.yahoo.com/p/c/cien.html
EARNINGS: 8-30-07 before the open.
STATUS: Reverse head and shoulders. Nice strong, above average volume Wednesday as CIEN broke higher in its 6 week base. You can call it a double bottom with handle (an intraday dip in early August matched later in the month) or a reverse H&S, but either way it is a nice pattern to consolidate the late May breakout from a larger 14 month base. Money flow is surging higher ahead of price and CIEN is ready to follow it. Looking for CIEN to move higher on the earnings. If it gaps we will buy some on the test and then see how it shakes out from there and plan our next buy point.
Volume: 4.353M Avg Volume: 3.77M
BUY POINT: $38.75 Volume=5M Target=$44.75 Stop=$36.25
POSITION: EUQ AG - Jan. $35c (70 delta) &/or Stock
http://www.investmenthouse.com/ct/cien.html
Play Date: 08/29/2007
CVX (Chevron-Texaco--$86.70; +2.40; optionable): Major oil and gas, refining
http://biz.yahoo.com/p/c/cvx.html
EARNINGS: 7-27-07
STATUS: Double bottom w/handle. Another one of the energy stocks that has formed a 7 week base after that strong April to early July run. It needed this rest and now it is set up to make the break higher and make a run toward 100.
Volume: 10.048M Avg Volume: 12M
BUY POINT: $87.68 Volume=18M Target=$99.95 Stop=$84.11
POSITION: CVX LQ - Dec. $85c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/cvx.html
Play Date: 08/29/2007
DO (Diamond Offshore--$103.18; +4.64; optionable): Offshore oil and gas drilling
http://biz.yahoo.com/p/d/do.html
EARNINGS: 7-26-07
STATUS: Double bottom with handle. Volume started up on Wednesday as DO broke higher over the handle of its short but very nice 6 week base. Broke higher out of a big base in June and rallied to 115. In the energy correction it sold back to form the current base, and is now breaking higher for a new run higher.
Volume: 2.45M Avg Volume: 2.789M
BUY POINT: $103.55 Volume=3M Target=$118.95 Stop=$99.90
POSITION: DO LA - Dec. $105c (53 delta)
http://www.investmenthouse.com/ct/do.html
Play Date: 08/29/2007
VIP (Vimple Communication--$23.16; +1.59; optionable): Russian wireless communications
http://biz.yahoo.com/p/v/vip.html
EARNINGS: 8-30-07
STATUS: Double bottom w/handle. Breaking higher on solid above average volume, clearing the handle in its 7 week base. Looking to move back into VIP as it moves toward a new all-time high following its split two weeks back. Earnings are out before the open, and as it ran into the number Wednesday we could see some early weakness. Maybe. We will just need to see how it reacts to the earnings and if it gives us an opening. If it gaps we will look to pick up a partial position on a test. If it opens weaker we will see if it can hold the 10 day EMA (21.65) and then break higher over 22.60 to move in.
Volume: 3.653M Avg Volume: 3.366M
BUY POINT: $23.91 Volume=4M Target=$28.75 Stop=$22.24
POSITION: VIQ AW - Jan. $23c (60 delta) &/or Stock
http://www.investmenthouse.com/ct/vip.html
Play Date: 08/29/2007
ZUMZ (Zumiez--$46.69; +1.97; optionable): Apparel stores
http://biz.yahoo.com/p/z/zumz.html
EARNINGS: 8-22-07
STATUS: Breakout test. Second test of the early August breakout from a 19 week base. Solid pattern and ZUMZ is one of those stocks that has the juice right now, retail sector or not. Excellent surge higher on the earnings, gapping and running to 48. It tested back and held the 10 day EMA (44.66). Now it is bouncing back up as volume rises though is still below average. Hard to resist this one, however, as it continues higher.
Volume: 606.025K Avg Volume: 776.838K
BUY POINT: $47.08 Volume=1M Target=$54.95 Stop=$44.55
POSITION: QUY BI - Feb. $45c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/zumz.html
CONTINUING PLAYS:
Play Date: 08/28/2007
ARTC (Arthrocare--$55.62; +1.21; optionable): Medical appliances
http://biz.yahoo.com/p/a/artc.html
EARNINGS: 7-26-07
STATUS: Breakout test. Still in the nice test of the break higher, tightening up the range as it moves over the 10 day EMA on low volume. Just waiting for the break higher on a jump in trade. To recap: ARTC is testing the 10 day EMA (54.63) as it makes a higher low in its 3 week consolidation of its strong late July breakout and surge to 58. An up and down test, but making higher highs as ARTC sets up for the next break higher. Low volume on this last part of the test so just looking for some pickup in trade to pick up ARTC for its next run.
Volume: 295.77K Avg Volume: 490.034K
BUY POINT: $56.25 Volume=750K Target=$64.95 Stop=$53.39
POSITION: ARU LK - Dec. $55c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/artc.html
Play Date: 08/25/2007
GRMN (Garmin Ltd.--$100.96; +4.58; optionable): GPS devices
http://biz.yahoo.com/p/g/grmn.html
EARNINGS: 8-1-07
STATUS: Reverse head and shoulders. Sold off Tuesday but then bounced off the 18 day EMA, maintaining the pattern. Nice action to shake out some of the sellers. Still has to show the break higher on strong volume to give us the buy point. To recap: GRMN has already given us a good gain and we took some of it. Now it is setting up to give us another buy point with this three week reverse head and shoulders pattern. Super solid, very strong.
Volume: 3.145M Avg Volume: 2.987M
BUY POINT: Aggressive: $104.35; breakout: $105.22 Volume=4M Target=$120.95 Stop=$99.88
POSITION: RZJ AA - Jan. $105c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/grmn.html
Play Date: 08/27/2007
MORN (Morningstar--$62.50; +0.62; optionable): Asset management services
http://biz.yahoo.com/p/m/morn.html
EARNINGS: 8-2-07
STATUS: Breakout test. Nice doji with tail at the 10 day EMA (62.09) as MORN sets up for the break higher after this very nice test. Nice action, just needs to show the break higher. To recap: MORN exploded higher to start August, clearing a 14 week cup base, rallying to 67 on the high. It tested the 18 day EMA after that surge, then gapped higher just over a week back. That was the initial play we were looking to get in on but the gap did not give us a good entry. It has worked laterally the past week as the 10 day EMA (62.02) rose to meet it. The 10 day EMA is now with it as MORN tapped it on the low and bounced. Looking for MORN to resume its breakout move; showed some good average volume Monday, and looking for some more.
Volume: 133.915K Avg Volume: 166.178K
BUY POINT: New: $64.25 (orig. $64.68) Volume=240K Target=$74.50 Stop=$61.96
POSITION: QMR LM - Dec. $65c (51 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/morn.html
Play Date: 08/27/2007
OIH (Oil Services Hldrs Trust--$176.47; +5.97; optionable)
http://biz.yahoo.com/p/o/oih.html
STATUS: Double bottom. Volume was up as OIH started off the 50 day EMA test and the handle that formed at that level. Very solid action and looking for a bit more volume as it continues higher to make a run at the prior high at 190. Looking to move in as it continues the run higher. To recap: OIH is setting up above the 50 day EMA (172.24) on the low and under the 50 day SMA (175.78) on the high. Looking for it to slide laterally along the 50 day EMA for two to three more sessions to form more of a handle and then make the break higher. OIH surged April to July and it needed a base. This is giving it that base to set back up and renew the move. Oil prices are lower, but oil service companies look very good. If it shows us the move with the associated volume it is a buy.
Volume: 7.206M Avg Volume: 9.814M
BUY POINT: On a continued move from here (orig. $174.92) Volume=11M Target=$190.00 Stop=$172.11
POSITION: ODL AO - Jan. $175c (50 delta)
http://www.investmenthouse.com/ct/oih.html
Play Date: 08/22/2007
RVBD (Riverbed Technologies--$44.57; +1.41; optionable): Networking and communication equipment
http://biz.yahoo.com/p/r/rvbd.html
EARNINGS: 7-26-07
STATUS: Test 50 day EMA. Started the bounce off of the 50 day EMA on Wednesday, but volume did not follow. Still very solid and just looking for a bit more trade to get the river flowing. Looks very good. To recap: Volume jumped as RVBD does the same thing off the 90 day SMA Tuesday and through the 50 day EMA on Wednesday. Money flow is surging higher and we are ready to move in as RVBD continues this solid break higher. A new issue in September 2006, RVBD is celebrating early for its first birthday.
Volume: 729.508K Avg Volume: 1.248M
BUY POINT: $44.25 Volume=1.4M Target=$53.95 Stop=$42.24
POSITION: UEX LI - Dec. $45c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/rvbd.html
Play Date: 08/28/2007
UTHR (United Therapeutics--$68.46; +0.60; optionable): Drugs
http://biz.yahoo.com/p/u/uthr.html
EARNINGS: 7-31-07
STATUS: Ascending base. Moved higher late in the session to clear the buy point but volume did not move with it, indeed coming in lower on the session. Just looking for some more trade as it continues higher. To recap: Nice, easy higher low at the 50 day EMA (66.42) the past week in a nice tight range in the 14 week base. Nice higher lows up the 50 day EMA is setting UTHR up for what looks to be a strong break higher.
Volume: 309.481K Avg Volume: 701.59K
BUY POINT: $68.28 Volume=1M Target=$78.65 Stop=$66.32
POSITION: FUH KM - Nov. $65c (68 delta) or FUH JN - Jan. $70c (47 delta) &/or Stock
http://www.investmenthouse.com/ct/uthr.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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trade stock
stock split
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