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trend trading stock, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 12/05/2007
BGC (General Cable--$77.04; +4.61; optionable): Wire, cable, etc.
http://biz.yahoo.com/p/b/bgc.html
EARNINGS: Late January 2008
STATUS: Ascending base. Huge volume Wednesday as BGC jumped off its 50 day EMA and cleared the highs in its 7 week base. This is part of a larger 5 month cup with handle base, and it is just starting its breakout move that is going to take it to a new all-time high. A big winner in all of 2006 and into the summer of 2007, BGC needed a nice long rest to regroup and set up for a new run. It has consolidated, and now it is on the cusp of the next run. Ready to move in as it continues higher.
Volume: 3.705M Avg Volume: 1.448M
BUY POINT: $77.55 Volume=1.5M Target=$89.95 Stop=$74.92
POSITION: BGC BO - Feb. $75c (67 delta) &/or Stock
http://www.investmenthouse.com/cd/bgc.html
Play Date: 12/05/2007
IMA (Inverness Medical--$59.45; +0.72; optionable): In vitro diagnostic fertility, pregnancy products
http://biz.yahoo.com/p/i/ima.html
EARNINGS: Late January 2008
STATUS: Test 50 day EMA. Broke out from a 14 week base in late September and rallied up the 10 day EMA. It then tested the 50 day EMA (57.45), bounced to a new high, and then in the November selling it came back again to test that key support level. After two weeks of lateral movement it broke higher Wednesday on very strong volume. Looking to move in as IMA continues higher and follows the rising money flow to a new high.
Volume: 1.488M Avg Volume: 746.126K
BUY POINT: $60.39 Volume=1M Target=$69.45 Stop=$58.32
POSITION: IMA BL - Feb. $60c (65 delta, 191 OI) &/or Stock
http://www.investmenthouse.com/cd/ima.html
Play Date: 12/05/2007
MSFT (Microsoft--$34.15; +1.38; optionable): Windows, X-Box
http://biz.yahoo.com/p/m/msft.html
EARNINGS: -24-07
STATUS: Test 50 day EMA. Strong volume burst Wednesday as trade moved above average while MSFT moved up off the 50 day EMA (32.78) after forming a short double bottom at that level. This move tests the late October gap higher on earnings, and MSFT is ready to continue the move and 7 year high.
Volume: 84.895M Avg Volume: 74.982M
BUY POINT: $34.31 Volume=90M Target=$40.45 Stop=$33.31
POSITION: MSQ DZ - Apr. $32.50c (69 delta) &/or Stock
http://www.investmenthouse.com/cd/msft.html
Play Date: 12/05/2007
WFR (Memc Electronic--$76.36; +2.09; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/w/wfr.html
EARNINGS: Late January 2008
STATUS: Double bottom w/handle. Big leap higher in October on its earnings, rallying over 80 on the move. It sold back in the November selling but used it to set up a double bottom over the 50 day EMA, rallying sharply last week on rising, above average volume. Nice pullback this week to form a handle and starting back up on Wednesday. Looking for more volume as it continues the move. If we get it we will move in.
Volume: 4.092M Avg Volume: 4.576M
BUY POINT: $77.92 Volume=5.5M Target=$93.45 Stop=$74.78
POSITION: WFR AO - Jan. $75c (60 delta) or WFR DP - Apr. $80c (47 delta) &/or Stock
http://www.investmenthouse.com/cd/wfr.html
Play Date: 12/05/2007
WFT (Weatherford International--$65.71; +2.01; optionable): Oil and gas service company
http://biz.yahoo.com/p/w/wft.html
EARNINGS: Third week of January 2008
STATUS: Trend reversal. WFT ran to a high in September after clearing a 14 week trading range. It surged to 70 on the move and then started a pullback, trending lower for 9 weeks to the top of the summer 2007 trading range. It held using that level and the 90 day SMA as support. It started to show some life late last week with some higher volume upside; we looked at it over the weekend and again on early this week. Well, it broke higher Wednesday on rising, above average volume. Watched it move right up. It is still a buy, however, and we are ready to move in as it continues higher, and if it gives us a test we will pick up some more then.
Volume: 4.251M Avg Volume: 4.04M
BUY POINT: $66.31 Volume=6.1M Target=$76.00 Stop=$63.95
POSITION: WFTBM - Feb. $65c (57 delta) &/or Stock
http://www.investmenthouse.com/cd/wft.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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