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stock recommendation, stock investment information
Begin part 3 of 3
Part 2 follows part 3 tonight.
THE PLAYS
New Plays:
Upside:
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/ct/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/ct/wfr.html
New Buy Points on Current Positions:
Play Date: 10/04/2007
BHP (BHP Billiton--$78.26; +0.08; optionable): Gold
http://biz.yahoo.com/p/b/bhp.html
EARNINGS: Early November
STATUS: Breakout test. Explosive upside move in September on the announcement of a huge gold find made us some very nice money as the news powered BHP higher after it broke out from its 9 week reverse head and shoulders base. Powerful move and then a nice, easy, lower volume test this week. It tapped the 10 day EMA on the Thursday low and then bounced to close modestly positive. Nice test and looking to move in as BHP continues its breakout run higher.
Volume: 3.311M Avg Volume: 3.968M
BUY POINT: $78.65 Volume=4M Target=$93.95 Stop=$76.38
POSITION: BHP AP - Jan. $80c (50 delta) &/or Stock
http://www.investmenthouse.com/ct/bhp.html
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/ct/oih.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 investment information
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