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stock recommendation, stock investment information
Begin part 3 of 3
Part 2 will be forwarded after part 3 tonight.
THE PLAYS
Upside:
Play Date: 10/04/2007
CHU (China Unicom--$20.52; +0.17; optionable): Chinese wireless communications
http://biz.yahoo.com/p/c/chu.html
EARNINGS: 10-26-07
STATUS: Breakout test. Nice gap higher the last week of September sent CHU out of a 9 week base, sending CHU to a new 6 year high. Strong volume on that move shows plenty of buying. In the selling to start the quarter CHU fell with the other Chinese stocks. Thursday it opened down at the 10 day EMA (20.09) and rebounded for a gain. Looking for CHU to continue the breakout move from here.
Volume: 1.099M Avg Volume: 1.173M
BUY POINT: $20.78 Volume=1.5M Target=$24.95 Stop=$19.21
POSITION: CHU AD - Jan. $20c (60 delta) &/or Stock
http://www.investmenthouse.com/cd/chu.html
Play Date: 10/04/2007
DVN (Devon Energy--$85.82; +2.19; optionable): Independent oil and gas
http://biz.yahoo.com/p/d/dvn.html
EARNINGS: 11-7-07
STATUS: Double bottom w/handle breakout. Volume was up on Thursday as DVN made the break from a 15 week base. Volume was not huge, but it was definitely higher as it made the move to a new high. Nicely formed base has put in its time, and with money flow leading the way higher DVN looks ready to give us a nice breakout run that can make us some solid coin.
Volume: 3.29M Avg Volume: 3.438M
BUY POINT: $86.05 Volume=4M Target=$98.95 Stop=$83.88
POSITION: DVN AQ - Jan. $85c (53 delta) &/or Stock
http://www.investmenthouse.com/cd/dvn.html
Play Date: 10/04/2007
WFR (Memc Electronic--$64.00; +2.23; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/w/wfr.html
EARNINGS: 10-24-07
STATUS: Flat base. While many chip stocks head lower, WFR is heading higher the past week and on nicely improved upside volume. Cleared the September high on Thursday as it moves toward the top of its 6 month base. Showing excellent relative strength to its peers, and on a solid price move coupled with strong volume it is a buy.
Volume: 3.799M Avg Volume: 4.491M
BUY POINT: $64.32 Volume=5.5M Target=$73.95 Stop=$61.18
POSITION: WFR AL - Jan. $60c (67 delta) or WFR AM - Jan. $65c (51 delta) &/or Stock
http://www.investmenthouse.com/cd/wfr.html
New Buy Points on Current Position:
Play Date: 10/04/2007
OIH (Oil Services ETF--$193.96; +1.36; optionable)
http://biz.yahoo.com/p/o/oih.html
STATUS: Breakout test. OIH has formed a two week flying plateau as the 18 day EMA (189.93) moved higher to catch up with its great breakout move from September that took it out of an 8 week double bottom with handle base. Nice low volume as it moved laterally to test the move, indicating no sellers. Like the Thursday action as OIH tested down to the 18 day EMA (189.93) intraday and then rebounded positive on rising volume. Looks super and ready to break higher from this consolidation for the next run. That gives us our next entry point.
Volume: 7.112M Avg Volume: 9.141M
BUY POINT: $195.22 Volume=10M Target=$209.95 Stop=$192.45
POSITION: ODL AS - Jan. $195c (55 delta)
http://www.investmenthouse.com/cd/oih.html
SUBSCRIBER PORTFOLIO: These are stocks subscribers suggest by vote that we put in a portfolio to track and move into the stocks if they perform well. If you have any suggestions for additions or deletions, email us. We don't cover them all each report, just when something interesting is developing.
AAPL, AKAM, CELG, EDU, GME, GOOG, MA, PCLN, NVDA, VLO
EDU: Ready to resume the move after this test.
GME: Plunked to the 18 day EMA. Lower volume but GME is a bit overdone here. A nice consolidation would do it well, but this far it is refusing to give much back.
NVDA: Critical test for NVDA on this run. Nice reach lower and recovery to show a doji over the 18 day EMA. This is where it needs to show the next leg.
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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 investment information
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