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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS: Looking at some stocks that held up well during the selling and are good defensive stocks for a weaker market. On a market rebound we will look at some new downside positions.
Upside:
Play Date: 11/08/2007
CLR (Continental Resources--$23.24; +1.02; no options): Oil and gas exploration
http://biz.yahoo.com/p/c/clr.html
EARNINGS: Announced 11-6-07
STATUS: Test 18 day EMA. CLR broke out from its first base in late September and has moved up the 18 day EMA (22.32) since. It tested the past week as the market sold and Tuesday was pretty wild for it as it announced earnings and plunked down to some support at 21. It held and bounced on Wednesday and Thursday on continued solid volume. Looking to move in as it continues higher. Like these new, strong issues in the energy sector.
Volume: 768.225K Avg Volume: 372.694K
BUY POINT: $23.68 Volume=650K Target=$28.45 Stop=$22.21
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/clr.html
Play Date: 10/25/2007
DE (Deere & Co.--$157.91; +3.59; optionable): Farm and construction machinery
http://biz.yahoo.com/p/d/de.html
EARNINGS: 11-21-07
STATUS: Breakout test. DE showed its strength this week, holding gains as the market sold off. It did sell back, but it held near support at the 10 day EMA and bounced Thursday on rising, above average volume. Excellent action as it forms a short 4 week base that gave it a rest and test of the 50 day EMA after the late August breakout from a base and run up the 10 day EMA. Money flow remains strong and so does DE. Looking to move in as it breaks higher once more.
Volume: 2.621M Avg Volume: 2.634M
BUY POINT: $154.63 Volume=3M Target=$169.65 Stop=$157.32
POSITION: DE AJ - Jan. $150c (52 delta)
http://www.investmenthouse.com/cd/de.html
Play Date: 11/08/2007
VIP (Vimple Communication--$32.85; +2.42; optionable): Russian wireless telecom
http://biz.yahoo.com/p/v/vip.html
EARNINGS: Late November
STATUS: Test 18 day EMA. Broke higher in late August clearing a short 7 week base. Nice rally up the 18 day EMA with a big surge to end October. It came back to test the past week with a gap lower but it held the 18 day EMA and consolidated a bit on lower trade. Nice strong volume and price break higher Thursday in a weak market. Foreign telecom is working.
Volume: 4.943M Avg Volume: 3.21M
BUY POINT: $33.04 Volume=3.2M Target=$39.85 Stop=$31.11
POSITION: VIQ DF - Apr. $30c (68 delta) &/or Stock
http://www.investmenthouse.com/cd/vip.html
Play Date: 11/08/2007
XRAY (Dentsply--$43.99; +0.90; optionable): Medical instruments and supplies
http://biz.yahoo.com/p/x/xray.html
EARNINGS: Announced 11-1-07
STATUS: Test 18 day EMA. Good market for XRAY as things turn a bit defensive. It broke out from an 8 week base in September, then came back to test the 50 day EMA to end October, right before it announced earnings. The results were great and XRAY blasted higher on the news. It spent the past week of selling easing back on low volume to test that move. Thursday it tapped the 18 day EMA on the low (42.82) and rebounded on strong, above average volume to post a solid gain. Looking to move in as XRAY continues higher.
Volume: 1.332M Avg Volume: 880.42K
BUY POINT: $44.39 Volume=885K Target=$51.95 Stop=$42.72
POSITION: XEQ DH - Apr. $40c (72 delta) &/or Stock
http://www.investmenthouse.com/cd/xray.html
New buy point on current position:
Play Date: 11/08/2007
RIG (Transocean--$126.51; +0.72; optionable): Offshore drilling
http://biz.yahoo.com/p/r/rig.html
EARNINGS: Announced 10-31-07
STATUS: Breakout test. Basically immune to the selling, RIG cleared the highs in a 13 week base to end October and surged higher through Wednesday when it reversed off its high and started the test of the move. Thursday it sold down to the 10 day EMA (123) on the low and then rebounded for a modest gain. Looking to move in as RIG continues higher. Still early in the breakout move.
Volume: 7.404M Avg Volume: 6.455M
BUY POINT: $127.05 Volume=7M Target=$142.00 Stop=$122.65
POSITION: RIG BE - Feb. $125c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/rig.html
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 option
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