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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS
Upside:
Play Date: 10/31/2007
ABAX (Abaxis--$29.32; +1.15; optionable): Diagnostic substances
http://biz.yahoo.com/p/a/abax.html
EARNINGS: Announced 10-24-07
STATUS: Breakout test. ABAX blasted higher on its earnings report, clearing the handle in its 7 month cup with handle base. Very nicely formed pattern that set up ABAX for the break to a new all-time high on this move. It spend the past four days fading back to test, then bouncing Wednesday. No real volume Wednesday, but looking for more trade as ABAX continues higher after this breakout test. It may come back more to test as the 10 day EMA is down at 27.38, a point coincident roughly with the April high, the left side of the base. Either way we will look for a strong volume push higher to move in and get in on this stock that sports a great technical pattern to go along with very solid fundamentals growth rates.
Volume: 224.577K Avg Volume: 271.644K
BUY POINT: $29.55 Volume=365K Target=$35.55 Stop=$27.89
POSITION: QOX AE - Jan. $25c (80 delta) or QOK BF - Feb. $20c (45 delta, low OI) &/or Stock
http://www.investmenthouse.com/cd/abax.html
Play Date: 10/31/2007
FTK (Flotek Industries--$50.80; -1.32; optionable): Pumps, oilfield equipment
http://biz.yahoo.com/p/f/ftk.html
EARNINGS: 11-1-07 before the open
STATUS: Test breakout. FTK gapped higher Monday on strong volume, clearing a short 3 week cup that formed at near support at the 18 day EMA. After that gap higher it came back to test, holding at the 10 day EMA (49.73) on the Wednesday low. Earnings are out before the open and we will see if that gives FTK a boost of the test and not so much such that it allows us a good entry point as FTK continues its run higher.
Volume: 831.482K Avg Volume: 470.212K
BUY POINT: $51.27 Volume=700K Target=$61.75 Stop=$49.57
POSITION: FTK CJ - Mar. $50c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/ftk.html
Play Date: 10/31/2007
NM (Navios Maritime Holdings--$18.07; +1.76; optionable): Shipping
http://biz.yahoo.com/p/n/nm.html
EARNINGS: Early December
STATUS: Breakout test. NM made us some solid money on its run after breaking out from its nice 12 week cup base. It got caught up in the selling on Tuesday in the shipping sector, and we exited, but did so looking for another entry point. It gapped higher Wednesday, tested the 10 day EMA on the low and rebounded for a nice gain. Looking to pick it up as it continues higher and runs toward a new high once more.
Volume: 3.861M Avg Volume: 1.53M
BUY POINT: $18.21 Volume=1.3M Target=$21.95 Stop=$16.94
POSITION: NM CW - Mar. $17.50c (65 delta) &/or Stock
http://www.investmenthouse.com/cd/nm.html
Play Date: 10/31/2007
SGR (Shaw Group--$74.60; +1.62; optionable): Power plant construction
http://biz.yahoo.com/p/s/sgr.html
EARNINGS: Announced 10-10-07
STATUS: Test breakout. SGR is making the second test of its early October breakout from a very nicely formed 12 week cup with handle base. Nice volume on the two surges higher, and Wednesday SGR tested the 10 day EMA (71.98) on the intraday low and rebounded for a solid gain on a second session of above average volume. Very strong with rising money flow and solid fundamentals underpinning the stock. Looking for a continued break higher on solid trade to move in and take some more positions on this great stock.
Volume: 1.495M Avg Volume: 1.202M
BUY POINT: $75.11 Volume=1.7M Target=$85.89 Stop=$71.78
POSITION: SGR AO - Jan. $75c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/sgr.html
Play Date: 10/31/2007
XTO (XTO Energy--$66.38; +1.90; optionable): Independent oil and gas
http://biz.yahoo.com/p/x/xto.html
EARNINGS: Announced 10-23-07
STATUS: Breakout test. XTO has formed a short little reverse head and shoulders pattern the past three weeks, a pattern we are seeing in many stocks (e.g. CTRP; it just broke out from its short little pattern this week). It has formed as a test of the breakout three weeks back from a larger 15 week reverse head and shoulders base. Volume surged Wednesday, moving back above average as XTO bounced off the 18 day EMA, moving up to the recent highs and looking for yet another all-time high as it makes the break. Looks very good to continue higher.
Volume: 3.926M Avg Volume: 3.868M
BUY POINT: $66.84 Volume=4.5M Target=$76.95 Stop=$64.12
POSITION: XTO BM - Feb. $65c (63 delta) &/or Stock
http://www.investmenthouse.com/cd/xto.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
GME: Volume was up to average as GME bounced off the 18 day EMA. Still working laterally in its 5 week flat base.
GOOG: Broke 700 on the way to 1000
MA: Gapped higher, exploding out of the base on strong volume.
PCLN: Nice break higher.
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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trade stock
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