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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS
New Plays:
Upside:
Play Date: 09/26/2007
ICON (Iconix Brand Group--$23.99; +0.81; optionable): Branded consumer apparel
http://biz.yahoo.com/p/i/icon.html
EARNINGS: Early November
STATUS: Double bottom w/handle. ICON is starting the breakout from its 9 week base, moving to a new high on the move. Volume was up, but it was still not above average as ICON makes the break. That will have to improve. Solid stock with great earnings growth to go along with its pattern.
Volume: 836.865K Avg Volume: 998.726K
BUY POINT: $24.21 Volume=1M Target=$28.95 Stop=$22.92
POSITION: QIA BX - Feb. $22.50c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/icon.html
Play Date: 09/26/2007
IBM (International Business Machines--$117.30; +0.79; optionable)
http://biz.yahoo.com/p/i/ibm.html
EARNINGS: 10-18-07
STATUS: Cup w/handle. IBM looks close to breaking from its 9 week base formed using the 50 day EMA (114) as support. This is part of a much larger 8 year base, and IBM has moved back up to the top of the pattern. Indeed, the current base looks to be the final shakeout before a breakout and move to a new all-time high. Not bad at all.
Volume: 6.696M Avg Volume: 8.575M
BUY POINT: $118.24 Volume=13M Target=$133.45 Stop=$115.65
POSITION: IBM AC - Jan. $115c (62 delta) &/or Stock
http://www.investmenthouse.com/ct/ibm.html
New buy point on current positions:
Play Date: 09/26/2007
FCX (Freeport McMoran--$103.91; -1.30; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: 9-26-07
STATUS: Breakout test. After a great breakout two weeks back from a 9 week base, FCX is testing the move on lower volume, coming back to tap the 10 day EMA (102.66) on the Wednesday low. May take another session or two to complete the test, but when it starts back up on volume we will be ready to move into this strong leader with some more positions.
Volume: 10.479M Avg Volume: 10.866M
BUY POINT: $105.05 Volume=12M Target=$124.95 Stop=$101.89
POSITION: FCX AA - Jan. $105c (63 delta) &/or Stock
http://www.investmenthouse.com/ct/fcx.html
Play Date: 09/26/2007
FTK (Flotek Industries--$44.30; +0.41; no options): Oil and gas service company
http://biz.yahoo.com/p/f/ftk.html
EARNINGS: Early November
STATUS: Breakout test. FTK is making its second test at the 10 day EMA (42.96) from the late August breakout from a 7 week base. Strong leader showing solid volume on the upside moves on the breakout and run higher, and now testing on lower trade. Looking for it to hold the line at the 10 day and start back up on stronger trade. That is when we move in.
Volume: 275.75K Avg Volume: 509.463K
BUY POINT: $45.25 Volume=550K Target=$52.95 Stop=$42.85
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/ftk.html
Play Date: 09/26/2007
NILE (Blue Nile--$96.85; -3.15; optionable): Online diamond sales
http://biz.yahoo.com/p/n/nile.html
EARNINGS: Early November
STATUS: Breakout test. Broke higher two weeks back, giving us a nice run higher and we banked a nice gain. As always happens, it has to test, and it is making a nice, low volume test to near support at the 10 day EMA (94.70). Looking for this leader to hold here after the run to 100 and make the break back up through that level for a new run.
Volume: 536.806K Avg Volume: 513.274K
BUY POINT: $97.42 Volume=770K Target=$116.95 Stop=$94.42
POSITION: JWU AT - Jan. $100c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/nile.html
Jumping right back at it:
Play Date: 09/26/2007
SLB (Schlumberger--$103.00; -1.62; optionable): Oil and gas service company
http://biz.yahoo.com/p/s/slb.html
EARNINGS: 10-19-07
STATUS: Breakout test. Okay, we sold our positions and took the rest of the gain off the table as SLB tested below the 18 day EMA. It rebounded however and held the breakout on the move. Given this action we are looking to move back in as SLB rebounds on continued rising trade. It broke higher from a nice 9 week cup with handle two weeks back and has tested with this move.
Volume: 10.746M Avg Volume: 9.696M
BUY POINT: $105.22 Volume=11M Target=$120.95 Stop=$102.11
POSITION: SDB AA - Jan. $105c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/slb.html
CONTINUING PLAYS:
Play Date: 09/25/2007
RIG (Transocean--$111.52; -1.17; optionable): Offshore drilling
http://biz.yahoo.com/p/r/rig.html
EARNINGS: 10-31-07
STATUS: Test breakout. Gapped higher but sold back after the inventory data. Managed to bounce up off a tap toward the 18 day EMA and close over the 10 day EMA. Good recovery and looking for a break higher from here. To recap: After the solid breakout last week from the handle of its 8 week cup with handle, RIG is making a nice, easy test on low volume. Excellent action in its base and it looks ready to follow some excellent money supply growth. Nice base that is perched near an all-time high and ready to send it higher. Strong fundamentals to go with the pattern, and we are looking to add to positions as it breaks higher.
Volume: 4.691M Avg Volume: 6.434M
BUY POINT: $113.25 Volume=8M Target=$126.95 Stop=$110.28
POSITION: RIG AC - Jan. $115c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/rig.html
Play Date: 09/25/2007
VIP (Vimple Communication--$27.28; +0.18; optionable): Russian wireless telecom
http://biz.yahoo.com/p/v/vip.html
EARNINGS: Late November
STATUS: Test breakout. Still testing the 10 day EMA, still ready to make the next break higher from this test. To recap: VIP broke out in late August from a 7 week double bottom with handle base. It surged and came back to the 10 day EMA (now at 26.89), then surged again. It is making its second test of the 10 day EMA, coming back on low volume to make the test. Nice doji at that level on Tuesday, and looking for volume to come back in as it makes the bounce off this near support. That is our next buy point as VIP follows the strong money flow higher.
Volume: 2.628M Avg Volume: 3.332M
BUY POINT: $27.75 Volume=3.4M Target=$33.31 Stop=$26.39
POSITION: VIQ AZ - Jan. $27c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/vip.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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stock recommendation
stock option
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