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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS
Upside:
Play Date: 10/23/2007
ELN (Elan--$23.30; +0.35; optionable): Drug delivery systems
http://biz.yahoo.com/p/e/eln.html
EARNINGS: 10-25-07
STATUS: Test breakout. Nice gap higher just over a week back as ELN broke out from a 14 week cup with handle base (note how it formed a reverse head and shoulders at the bottom in August and September). Big gap and it has spent the past week testing and filling the gap, coming back to the 10 day EMA (22.93) on low volume. It started the bounce Tuesday off of that near support, but volume was not yet moving with it. Excellent set up to move higher; just needs to show us some volume as it continues the breakout move.
Volume: 1.568M Avg Volume: 3.965M
BUY POINT: $23.65 Volume=4.2M Target=$28.45 Stop=$22.55
POSITION: ELN AX - Jan. $22.50c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/eln.html
Play Date: 10/23/2007
GLNG (Golar LNG--$25.77; +1.50; optionable): Shipping
http://biz.yahoo.com/p/g/glng.html
EARNINGS: 11-30-07
STATUS: Test 50 day EMA. Looking for GLNG to make us some more money after it tested its 50 day EMA (22.48) on the Monday low and reversed. Nice breakout in the third week of September from its 10 week base, and this is the first test of that move; a bit deeper than usual what with the Friday selling, but a great recovery. Looking to move in as GLNG continues higher toward a new all-time high.
Volume: 544.781K Avg Volume: 432.021K
BUY POINT: $25.95 Volume=445K Target=$31.22 Stop=$24.55
POSITION: QGL CE - Mar. $25c (63 delta, 60 OI) &/or Stock
http://www.investmenthouse.com/cd/glng.html
Play Date: 10/23/2007
NYX (NYSE Euronext--$87.70; +3.36; optionable): Stock exchanges
http://biz.yahoo.com/p/n/nyx.html
EARNINGS: 11-2-07
STATUS: Cup. NYX came off the bottom of a long 10 month base in mid-September, rallying to the 200 day SMA (83.79) two weeks back. It faded from that resistance, but then gapped higher Friday as the market sold. It held the break Monday, and then surged up Tuesday on another strong shot of volume. That made a higher high for NYX and puts it in excellent shape to make a run up to the prior highs between 105 and 110. It won't run up to their in a straight line, of course, but it is in great shape to make a steady climb to test those old highs.
Volume: 7.663M Avg Volume: 4.708M
BUY POINT: $88.05 Volume=5M Target=$99.95 Stop=$85.89
POSITION: NYX AQ - Jan. $85c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/nyx.html
Play Date: 10/23/2007
SLT (Sterlite Industries--$22.05; +1.50; optionable): Copper
http://biz.yahoo.com/p/s/slt.html
EARNINGS: 11-21-07
STATUS: Test 50 day EMA. Another stock that made us some great money in its September and early October run as it broke out from its first base and rallied higher. It sold off sharply the past two weeks, but on Monday it found support at the 50 day EMA on the intraday low and surged back up. It continued the move Tuesday on continues solid volume. A new issue in June and has its first base under its belt. Looking to move in as SLT continues the run higher.
Volume: 2.145M Avg Volume: 1.466M
BUY POINT: $22.22 Volume=2M Target=$26.48 Stop=$20.88
POSITION: SLT CD - Mar. $20c (68 delta) &/or Stock
http://www.investmenthouse.com/cd/slt.html
Play Date: 10/23/2007
SNDA (Shanda Interactive Ent.--$38.08; +2.55; optionable): Chinese internet services
http://biz.yahoo.com/p/s/snda.html
EARNINGS: 11-27-07
STATUS: Test 50 day EMA. SNDA broke higher in September from a nicely formed 10 week base. It ran higher up the 18 day EMA (37.22), but in the selling last week and Monday it came back for a full test, tapping at the 50 day SMA on the Monday low and then rebounding to recoup some of its losses. It then surged Tuesday on continued strong, above average volume, moving back into the uptrend formed following the breakout. Very strong and looking for a continued move higher as SNDA resumes its uptrend. We are looking to move in as it does.
Volume: 2.427M Avg Volume: 1.6M
BUY POINT: $38.34 Volume=1.8M Target=$45.95 Stop=$36.94
POSITION: QKU AG - Jan. $35c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/snda.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
AAPL: Surged on the earnings of course. Surprisingly it was off about 4 points after hours on the AMZN, JNPR, BRCM, etc. earnings.
AKAM: It is making a higher low and looks as if it is trying to make this the bottom of its long selloff.
CELG: Gapped higher up to the 18 day EMA but could go no further. A clearer indication is a break over the 10 day EMA (71.49).
GME: Looks as if it is trying to make the break from its 4 week lateral consolidation after that Monday shakeout down to the 50 day EMA intraday.
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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us stock market
stock recommendation
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