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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside: Some more solid upside plays to take advantage of this bounce. All have solid fundamentals to back their strong technical patterns.
Play Date: 11/28/2007
AMT (American Tower--$44.63; +0.67; optionable): US cell towers
http://biz.yahoo.com/p/a/amt.html
EARNINGS: Announced 11-7-07
STATUS: Ascending base. AMT broke out from a 12 week cup with handle base in late October, rallying to near 47 on the move. It sold back in the market selling, but held the 50 day EMA, making higher lows off of that support as it consolidated and formed a new 4 week base on the heels of that breakout. It is pinching off at the end of this pattern, and that means it is ready to make its break. With the market moving higher we are looking for AMT to make the break to the upside. Volume is up the past two sessions, moving to average; looking for some more trade as it pushes higher to give us the good entry point.
Volume: 4.74M Avg Volume: 4.027M
BUY POINT: $45.21 Volume=6M Target=$51.95 Stop=$43.77
POSITION: AMT DZ - Apr. $42.50c (85 delta, 305 OI) &/or Stock
http://www.investmenthouse.com/cd/amt.html
Play Date: 11/28/2007
CHL (China Mobile--$90.81; +4.46; optionable): Chinese wireless
http://biz.yahoo.com/p/c/chl.html
EARNINGS: Third week of December
STATUS: Test 50 day EMA. CHL enjoyed a tremendous August to late October run, and when the market started to sell it had to test back. It gapped lower to start the month, but it held at the 50 day EMA (84.70) and worked laterally the past three weeks, forming something of a double bottom. Nice break higher Wednesday on strong, above average volume. Looking to move in as CHL continues higher and gives us the run toward the prior high. That move alone gives us a nice gain, just what you want in a bounce situation, i.e. not having to plough new ground if you can avoid it.
Volume: 4.176M Avg Volume: 3.447M
BUY POINT: $91.12 Volume=4.5M Target=$103.95 Stop=$87.55
POSITION: CHL CR - Mar. $90c (59 delta) &/or Stock
http://www.investmenthouse.com/cd/chl.html
Play Date: 11/28/2007
MR (Mindray Medical Intl.--$38.81; +2.29; optionable): Chinese medical instruments
http://biz.yahoo.com/p/m/mr.html
EARNINGS: Announced 11-1-07
STATUS: Test 50 day EMA. After a nice break higher in late August and run to 45 in early October, MR sold back to the 50 day EMA. It stumbled to start November as it announced earnings that did not meet market muster; of course not many did at that time given the selling. It recovered from the dip, however, holding at the 90 and the 50 day EMA (37.57). Some nice upside volume spikes the past two weeks and then a big spike Wednesday as MR surged past the 50 day EMA. Ready to move in as it clears the 50 day SMA (39.30) on continued solid trade. A new issue in September 2006, this pullback has given MR the rest it needs to resume its run.
Volume: 1.957M Avg Volume: 924.491K
BUY POINT: $39.38 Volume=1M Target=$45.32 Stop=$37.54
POSITION: MR DH - Apr. $40c (50 delta) &/or Stock
http://www.investmenthouse.com/cd/mr.html
Play Date: 11/28/2007
OTEX (Open Text--$32.40; +1.15; optionable): Internet enterprise content management solutions
http://biz.yahoo.com/p/o/otex.html
EARNINGS: Announced 11-1-07
STATUS: Test 50 day EMA. Gapped higher in late August, clearing a 16 week base. It has stair-stepped higher since, making two runs off the 18 day EMA (32.32) and coming back to test. With the market selling this month it came back a bit further, testing the 50 day EMA (30.11) on the Tuesday low and rebounding. Wednesday volume jumped back above average (it was below average on the entire test) as OTEX jumped up off the 50 day test. Strong money flow is running higher ahead of the stock even as it tests. Nice set up for a strong break higher.
Volume: 676.038K Avg Volume: 575.177K
BUY POINT: $32.85 Volume=700K Target=$39.45 Stop=$31.11
POSITION: QFT BF - Feb. $30c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/otex.html
Play Date: 11/28/2007
VIVO (Meridian Biosciences--$30.80; +1.31; optionable): Diagnostic substances
http://biz.yahoo.com/p/v/vivo.html
EARNINGS: Announced 11-14-07
STATUS: Test 50 day EMA. Taking another look at VIVO as it comes off the 50 day EMA (29.93) on stronger, above average volume, the first above average trade in over a week. Double top in October and November, but it has made a higher low at key support here at the 50 day. Not bad. Looking for some more volume as ti continues higher and gives us the entry point.
Volume: 433.499K Avg Volume: 368.226K
BUY POINT: $31.11 Volume=450K Target=$37.45 Stop=$29.87
POSITION: ZUG AF - Jan. $30c (62 delta, 437 OI) or ZUG DG - Jan. $35c (57 delta, 363 OI) &/or Stock
http://www.investmenthouse.com/cd/vivo.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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