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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
New Pre-Announcement Play:
Play Date: 12/10/2007
OII (Oceaneering Intl.--$72.53; +1.01; optionable): Offshore drilling services
http://biz.yahoo.com/p/o/oii.html
EARNINGS: Early February
STATUS: Cup w/handle. Working on the handle the past two sessions to its 8 week base. Broke back over the 50 day EMA (69.40) last week after breaking higher off the bottom of the base on stronger volume. After the strong run from March through early October it needed a new base to consolidate the gains and set up the next break higher. May take some more time to form the handle, but it is setting up coincident with the FOMC meeting though energy is less governed by the moves of the Fed. Looking for some strong volume to send it higher.
Volume: 499.82K Avg Volume: 756.738K
BUY POINT: $73.65 Volume=1.1M Target=$84.95 Stop=$71.28
POSITION: OII DN - Apr. $70c (66 delta) &/or Stock
http://www.investmenthouse.com/cs/oii.html
New Leader Plays:
Play Date: 12/10/2007
CF (CF Industries--$95.76; +1.04; optionable): Ag chemicals
http://biz.yahoo.com/p/c/cf.html
EARNINGS: Last week of January
STATUS: Cup w/handle. Very nice action the past five weeks as CF used the November selling to test back to its 50 day EMA (83.68) and consolidate the September to October run following its last breakout. It bounced off the 50 day and formed the right side of the base to end November. Moved more or less laterally last week, then reached down to the 10 day EMA (92.66) on the Monday low and rebounded for a gain. Looks to have just about finished the handle shakeout and looking for a bounce on rising volume to give us the entry point. Another stock that has set up coincident with the FOMC decision, and that may provide the catalyst for the breakout. A top rated stock in terms of earnings growth rates.
Volume: 1.894M Avg Volume: 2.077M
BUY POINT: $97.38 Volume=3M Target=$111.98 Stop=$92.55
POSITION: CF BS - Feb. $95c (56 delta, 248 OI) &/or Stock
http://www.investmenthouse.com/cs/cf.html
Play Date: 12/10/2007
CMED (China Medical Technologies--$45.03; +0.01; optionable): Chinese medical instruments
http://biz.yahoo.com/p/c/cmed.html
EARNINGS: Announced 11-20-07
STATUS: Double bottom w/handle. A volatile but consistent market leader, CMED has made us a lot of money over the past six months. It is setting up to break higher once, more, forming a 6 week double bottom with handle, working on the handle right now with a low volume, lateral move the past two sessions, testing lower then rebounding to close flat. That is the shaking out of the sellers as they give up as the stock appears to stall just below the prior highs. Getting close, and we are just going to be ready to move in as CMED makes its breakout move.
Volume: 293.531K Avg Volume: 737.595K
BUY POINT: $45.68 Volume=1M Target=$54.95 Stop=$42.94
POSITION: QCY CI - Mar. $45c (55 delta) &/or Stock
http://www.investmenthouse.com/cs/cmed.html
Good Investing!
Jon L. Johnson and the Stock Split Report 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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us stock market
stock recommendation
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