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Begin part 3 of 3
THE PLAYS
New Plays:
Upside: All have great earnings growth rates and are in excellent position to make the next move higher.
Play Date: 11/03/2007
GSOL (Global Sources Ltd.--$32.82; +1.92; no options): B to B media for the web in China
http://biz.yahoo.com/p/g/gsol.html
EARNINGS: 11-15-07
STATUS: Test breakout. Exploded out of a 13 week double bottom with handle base the second week of October and surged higher to 37.70 before starting back the past week to test that strong move. It held the 18 day EMA (30.79) all week, then jumped higher on stronger, above average volume, posting a solid gain. Lower volume test, starting to bounce in higher volume. Looks as if this test is over, and we are looking to move in as it breaks higher from here and heads for a new all-time high. Very solid, using the selling last week to test and set up its next move just as a leader should.
Volume: 381.322K Avg Volume: 286.088K
BUY POINT: $33.04 Volume=400K Target=$39.95 Stop=$30.98
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/gsol.html
Play Date: 11/03/2007
ININ (Interactive Intelligence--$26.37; +1.54; optionable): Internet VOIP software
http://biz.yahoo.com/p/i/inin.html
EARNINGS: 10-29-07
STATUS: Breakout test. Exploded out of a 10 month ascending triangle the last week of October on its earnings report, surging to 26 on that move. It paused Thursday in the selling but on much lower volume. Friday is started higher again on very strong volume. A top stock fundamentally in terms of growth rates, and a super technical position as well. Moving in as it continues this move higher.
Volume: 511.282K Avg Volume: 179.38K
BUY POINT: $26.54 Volume=300K Target=$31.85 Stop=$24.92
POSITION: NQX CE - Mar. $25c (65 delta) &/or Stock
http://www.investmenthouse.com/ct/inin.html
Play Date: 11/03/2007
NOV (National Oilwell--$73.99; +3.64; optionable): Oil and gas equipment, services
http://biz.yahoo.com/p/n/nov.html
EARNINGS: Announced 10-24-07
STATUS: Test 50 day EMA. NOV is a powerhouse with an impressive run from February to mid-October. It made us some great money on its last run and it is in the process of setting up for another great move. It is a case study of a strong stock's lifecycle. It broke out in February and rallied up the 18 day EMA until August. After that move it needed a breather and it came back to the 50 day EMA to test for three weeks, forming a short double bottom. Then it was on the rally again, moving up the 10 and 18 day EMA through mid-October, then coming back to make its test of key support at the 50 day EMA (70.08) once again. It looks like it just came off its second bottom on this double bottom test of support, and if it continues higher from here on rising volume we will be looking to move into NOV and ride it up the 10 and 18 day EMA once again for another 15 to 20 points.
Volume: 5.522M Avg Volume: 6.05M
BUY POINT: $74.35 Volume=7.5M Target=$88.95 Stop=$70.89
POSITION: NOV BO - Feb. $75c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/nov.html
Play Date: 11/03/2007
PAY (VeriFone Holdings--$47.98; -0.31; optionable): Transaction automation systems for electronic payments
http://biz.yahoo.com/p/p/pay.html
EARNINGS: 12-6-07
STATUS: Breakout test. PAY formed a nice 7 month cup with handle and broke higher in late September. It has rallied nicely and is making its second test of that breakout move, using last week's late selling to come back and test the 10 day EMA (47.63) on lower, below average volume. That shows no real selling, just some happy feet moving out. Looking for PAY to hold this near support and start higher on rising trade, and that is our buy signal.
Volume: 1.008M Avg Volume: 1.521M
BUY POINT: $48.48 Volume=1.6M Target=$55.95 Stop=$47.28
POSITION: PAY DI - Apr. $45c (67 delta) &/or Stock
http://www.investmenthouse.com/ct/pay.html
Play Date: 11/03/2007
SNDA (Shanda Interactive Ent.--$39.46; +0.04; optionable): Online games in China
http://biz.yahoo.com/p/s/snda.html
EARNINGS: Late November
STATUS: Ascending base. Looking at one that has made us great coin in the past. SNDA is part of the China cadre that is moving well and looks ready to move some more. SNDA has moved through a 6 week base up the 18 day EMA (38.28) and closed the week bumping up against the resistance in the pattern. Has shown good upside volume on the bounces higher. Looking for that volume to surge as it makes the breakout move. That gives us the buy point.
Volume: 1.597M Avg Volume: 1.673M
BUY POINT: $40.76 Volume=2.4M Target=$48.95 Stop=$38.11
POSITION: QKU CH - Mar. $40c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/snda.html
Play Date: 11/03/2007
STP (Suntech Power Holdings--$57.00; +0.28; optionable): Photovoltaic cells and modules . . . in China.
http://biz.yahoo.com/p/s/stp.html
EARNINGS: 11-15-07
STATUS: Breakout test. Explosive move in October as STP blasted out of a 13 week reverse head and shoulders base mid-month. Huge surge on the breakout and last week during the selling, it calmly, on lower volume, came back to test the 10 day EMA (54.65) on the low, tapping it intraday Friday and then rebounding for a modest gain on some rising volume. May try to come back a bit more to test near support at the 10 day, but it has a lot of momentum, and we are ready to move in as it continues this rebound off of this near support.
Volume: 3.618M Avg Volume: 3.172M
BUY POINT: $58.18 Volume=4M Target=$69.95 Stop=$54.45
POSITION: STP AK - Jan. $55c (61 delta) or STP CL - Mar. $60c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/stp.html
Play Date: 11/03/2007
WFR (Memc Electronic--$72.27; +2.76; optionable): Semiconductor integrated circuits used in solar power among other applications
http://biz.yahoo.com/p/w/wfr.html
EARNINGS: 10-25-07
STATUS: Breakout test. Blasted higher last week on a strong earnings report, gapping out of a 6 month flat or saucer base, rallying to 76 on that move. Nice, orderly base. It used last week's selling to test the move, coming back to tap at the 10 day EMA (68.82). Friday it bounced off of that test and posted a nice gain. Looking to move in as WFR continues the breakout move.
Volume: 5.527M Avg Volume: 4.463M
BUY POINT: $72.88 Volume=6.2M Target=$86.95 Stop=$69.22
POSITION: WFR DO - Apr. $75c (52 delta) &/or Stock
http://www.investmenthouse.com/ct/wfr.html
New buy point on current position:
Play Date: 11/03/2007
EDU (New Oriental Education & Tech--$81.95; -3.78; optionable): Chinese business training
http://biz.yahoo.com/p/e/edu.html
EARNINGS: Announced 10-15-07
STATUS: Test 18 day EMA. Looking at a new position in EDU as it tested last week, coming back on the Friday low to tap at the 18 day EMA (78.89) before rebounding to cut its losses. This is the second test of the 18 day EMA since the breakout, and that means EDU still has more upside ahead of it. May test a bit more toward the 18 day, but ready to move in as EDU makes its next break higher on solid trade.
Volume: 873.9K Avg Volume: 438.782K
BUY POINT: $83.05 Volume=658K Target=$99.75 Stop=$78.68
POSITION: EDU AP - Jan. $80c (61 delta) &/or Stock
http://www.investmenthouse.com/ct/edu.html
CONTINUING PLAYS: So many great stocks set up to move higher. Chose those that fit your style and go with those.
Play Date: 10/31/2007
ABAX (Abaxis--$29.50; +0.61; optionable): Diagnostic substances
http://biz.yahoo.com/p/a/abax.html
EARNINGS: Announced 10-24-07
STATUS: Breakout test. Still working laterally as it tests the strong break higher. Just waiting for the break higher to move in. To recap: 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: 324.604K Avg Volume: 273.448K
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/ct/abax.html
Play Date: 11/01/2007
EJ (E-House China Holdings--$33.60; +0.36; optionable): Chinese property management
http://biz.yahoo.com/p/e/ej.html
EARNINGS: September 20ish (not confirmed)
STATUS: Test 10 day EMA. Big test lower Friday and recovery on volume to close positive. Looking to move in as it continues the rebound from the test. To recap: A new issue in August, EJ is stair-stepping up the 10 and 18 day EMA as it makes higher and higher lows. It was caught in the Thursday selling because it was a big mover last week, making us some great money. It sold back and tapped the 10 day EMA (31.94) on the low, rebounding to recoup some lost ground. Volume was lower and below average, indicating no heavy selling. This test is giving us a new entry point when it starts back up off the near support.
Volume: 1.24M Avg Volume: 989.461K
BUY POINT: $33.68 Volume=1.2M Target=$40.95 Stop=$31.94
POSITION: EJ BF - Feb. $30c (69 delta) &/or Stock
http://www.investmenthouse.com/ct/ej.html
Play Date: 10/31/2007
JOYG (Joy Global--$57.18; +1.18; optionable): Farm and construction equipment
http://biz.yahoo.com/p/j/joyg.html
EARNINGS: 12.18-07
STATUS: Test breakout. Setting up well, reaching down to the 18 day EMA on the Friday low and rebounding. Now it is ready after this shakeout and looking for the break higher. To recap: JOYG broke sharply higher last week, clearing a three week handle to its 15 week cup with handle base. Strong volume as it broke higher through Monday and then a fade in trade as it tested on Tuesday. Volume was back up, however, Wednesday as JOYG started back up. That is solid price/volume action, just what you want to see as a stock sets up and makes its move. Has some nice room overhead to run before it hits resistance, and we are looking to play the rest of this move as far as it will take us.
Volume: 3.132M Avg Volume: 1.819M
BUY POINT: $56.95 Volume=2.2M Target=$66.95 Stop=$55.32
POSITION: JQY AK - Jan. $55c (65 delta) or JQY DL - Apr. $60c (48 delta) &/or Stock
http://www.investmenthouse.com/ct/joyg.html
Play Date: 10/31/2007
NTGR (Netgear--$34.15; +0.31; optionable): Telecom equipment
http://biz.yahoo.com/p/n/ntgr.html
EARNINGS: Announced 10-25-07
STATUS: Island reversal. A nice tight doji with tail, tapping the 10 day EMA on the low and rebounding. The test looks to be done. To recap: Gapped higher last Friday on a strong earnings report, clearing the early October high on that move. It gapped lower in late July, spent 12 weeks working laterally in a trading range, and then made the gap higher. That is a bullish pattern, and we are looking to move in as NTGR continues the move higher, showing us some rising volume as it does.
Volume: 418.281K Avg Volume: 738.835K
BUY POINT: $35.66 Volume=1M Target=$41.32 Stop=$33.69
POSITION: TUD CG - Mar. $35c (55 delta) &/or Stock
http://www.investmenthouse.com/ct/ntgr.html
Play Date: 10/31/2007
SGR (Shaw Group--$74.01; +0.45; optionable): Power plant construction
http://biz.yahoo.com/p/s/sgr.html
EARNINGS: Announced 10-10-07
STATUS: Test breakout. The test continued Friday with a reach down to the 18 day EMA on the low (70.13) and then rebounding for a modest gain on a surge in volume. That tells us the buyers moved in on the test and drove it back up. Looking for a continued move higher from here to enter. To recap: 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 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: 1.883M Avg Volume: 1.192M
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/ct/sgr.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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