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Begin part 2 of 3
CONTINUING PLAYS
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LEGEND FOR CONTINUING PLAY TABLE
DATE: date play first appeared on report.
PLAY: Denotes the type of pattern or play.
Upside play types: Asc Tri=Ascending triangle; BO=Breakout; Cup=Cup base; Cup hdl=Cup w/handle; DB hdl=Double bottom w/handle; Dbl btm=Double bottom; Flat=Flat base; FlyPlat=Flying Plateau; Pennant=Pennant; Rv H&S=Reverse head & shoulders; Saucer=Saucer base; Test 18=Testing 18 day MVA; Test 50=Testing 50 day MVA; Test BO=Testing the breakout (could be 10 day MVA test, etc.) Downside play types: CCall=Covered Call; Dsc Tri=Descending triangle; Dbl Top=Double top; H&S=Head & shoulders; Put (generic downside);
PIVOT=Buy point
Tgt=Target stock price for the play. Applies to stock and options.
Vol=Volume for the most recent session.
TgtV=Target volume to enter the play.
Stop=Stop advisory point. This is advisory and we may or may not exit a play if it hits this level depending upon Market conditions.
PLAY STATUS: Buy not hit (stock has not hit buy point); Buy not issued (stock has hit buy point but did not enter due to weak volume, poor intraday action, poor Market action); Current (ongoing play already entered); Entered today (entered the play that session); Exited (closed the position); Target hit (play hit initial target; will note if took all or partial gain or let run further); Trailing stop (exited using a trailing stop loss).
Upside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
AAPL 12/03 Test 18 194.84 -3.24 184.30 203.95 38M 45M 195.88
Trailing Stop. Taking no chances with this one and locked in some gain, particularly on the January options. Looking to see if AAPL sets up a new buy soon after this pullback as it did manage to hold the 10 day EMA and early December high Wednesday in this light selling.
AAPL 11/20 Test 50 194.84 -3.24 175.11 198.95 38M 40M 195.88
Trailing Stop.
AFL 12/27 PreAnn 61.97 -0.66 63.22 72.95 2.4M 3.5M 61.32
Buy Not Hit. Aflac with a nice pickup to just below average volume Wednesday as it posted some more light selling in this quiet pullback from the December high. Hit the 10 day EMA and held the average as key support intraday. Just need to see AFL find its bottom in this short pullback and take the Dbl btm upside again for the buy.
APA 12/27 Test BO 110.31 +2.77 108.56 122.75 3.7M 4.4M 106.89
Current. APA with a huge boost in volume back to above average as it posted some excellent gains through the session. Just continuing a solid Asc Bse higher into January. Expecting APA to head even higher from here on this solid volume.
APA 12/18 PreAnn 110.31 +2.77 105.89 121.45 3.7M 5.3M 106.89
APH 12/22 Test BO 44.20 -2.17 46.82 53.95 2M 1M 44.78
Buy Not Issued. Had to let this one go after a huge gap lower and close past key support from the mid December lows. Not at all what we were looking to enter on as APH posted some hard selling Wednesday on high volume.
BG 12/26 Test 18 122.10 +5.69 121.82 139.95 2M 1.4M 117.88
Entered today. BG with some solid upside movement on high volume Wednesday to start the New Year right. Great bounce up off the pullback from late December back to the 18 day EMA as it test the early December high. Could not resist this awesome breakout from Wednesday as we are looking to ride this one much higher from here.
BG 11/29 Cup 122.10 +5.69 116.55 133.85 2M 1.6M 121.48
BIDU 12/29 Asc Bse 381.88 -7.92 395.24 454.00 5.5M 10M 383.44
Entered today. This one was entered Monday. Late recovery intraday for BIDU after some modest selling back to the 18 day EMA near 380. Love the setup here for a breakout after this easy pullback into January and expecting a bounce higher from here in this solid Asc bse. Nice.
CF 12/19 Asc Bse 110.61 +0.55 100.66 119.95 1.3M 3M 113.32
Current. Doji in the close flat Wednesday with rising, below average volume as CF starts to bottom near the 10 day EMA in the low 100s in this quick test from late December. Expecting a bounce higher in the Asc bse soon once volume picks up again.
CHU 12/27 DB hdl 21.34 -1.06 23.15 27.95 1.4M 2.6M 21.89
Buy Not Hit. Gap lower for some harsh selling Wednesday on a slight pickup in volume although still below average. Held the 18 day EMA and early December high as support at the close. Needs to hold the line here to stay on our good side.
CMED 12/22 Rev HS 46.86 +2.47 44.28 54.95 1.2M 1M 43.68
Current. Bought this one Monday and have watched it soar from there. Great gap higher Wednesday and then a solid climb into the upper 40s through the session with high volume in this Rev HS base. CMED looking pretty unstoppable in this breakout. Awesome.
CY 12/04 Cup 35.07 -0.96 35.90 41.65 5M 7M 37.21
Current. Saw some more selling Wednesday on a pickup of volume at the start of the year as CY returned below the 18 day EMA to hold the 50 day SMA as support at the close. Need to see CY find support from the average and mid December lows and bottom there in this test of the Cup high.
CYBS 12/22 Cup 18.50 +0.73 18.03 21.65 1.2M 1.1M 17.77
Current. Decent recovery from the Monday low as CYBS bounced off the 10 day EMA for some modest gains on above average volume. Nice, long cup base for CYBS here that looks to take it higher soon once this volatile consolidation near 19 ends.
DE 12/20 Test 18 90.20 -2.92 88.48 101.55 5.1M 6M 90.04
Trailing Stop. Protecting some gain as the early action looked bad for DE with the harsh selling Wednesday. It held the 10 day EMA at the close and if it can show it is going to hold, we will look at new buys.
EDU 12/22 Asc Tri 76.70 -3.89 83.88 99.95 780K 700K 79.92
Buy Not Issued. Saw some tough selling Wednesday on high volume to close at the 50 day EMA after what looked to be EDU holding support near 80 from the 18 day EMA. Not the move we were looking to enter on at all and with early January a typically shaky time for the market we let this one go.
EGOV 12/01 Rev HS 8.50 +0.06 8.39 10.25 245K 300K 8.68
Lateral movement Wednesday on above average volume as EGOV holds at the 10 day EMA at the bottom of its test. Need to see EGOV continue to stay above the 18 day EMA near 8.40 here to keep itself out of trouble.
ESLR 12/17 Test BO 17.44 +0.17 15.63 18.85 4.1M 7.4M 17.31
Trailing Stop. Started Wednesday with a gap higher but started to sell so saved some gains from December. Still, managed to only post a doji and recover the intraday selling so if it holds here we will look at new positions.
ESLR 11/15 Test 18 17.44 +0.17 14.17 16.95 4.1M 5.4M 17.31
Trailing Stop.
FCEL 12/18 Test BO 9.91 -0.01 12.12 14.95 1.6M 1.4M 12.42
Exited. Got out of this one Monday. Still testing the 90 day SMA as FCEL begins to quiet down on the selling a bit. Volume returned to average here as FCEL still tries to bottom here
FCX 12/29 Asc Bse 103.29 +0.85 105.88 122.95 8.1M 15M 102.95
Buy Not Hit. Has a nice Asc bse into the New Year just needs stronger volume as FCX continued with another quiet move along the 50 day SMA to post a doji Wednesday.
GIGM 12/26 Asc Bse 18.63 -0.12 20.91 25.22 705K 2M 19.45
Buy Not Hit. GIGM with a doji on the quiet step lower Wednesday with volume fading and low. Expecting GIGM to bottom in the test soon with volume and selling momentum fading near support from the December lows. Watching for the buy once we see a solid bottom in this pullback.
GILD 11/27 Dbl btm 45.34 -0.67 45.77 52.89 6.5M 7.8M 46.27
Exited. GILD hitting the stop losses on some hard selling Wednesday as it sold back to the 50 day SMA on a spike of volume to near average levels. Managed to hold the average and December lows as support so will see if it can hold the line here, otherwise GILD just testing the Dbl btm higher with some harsh market selling.
GMCR 12/18 Cup hdl 39.62 -1.08 41.50 49.95 159K 300K 39.69
Current. Gave this one the benefit of the doubt Wednesday as GMCR sold slightly past the 10 day EMA on low volume. Held the 18 day EMA as support in the session as it recovered some of the intraday selling and just need to see GMCR continue holding the 18 day EMA to stay out of trouble.
GME 12/15 Test 50 60.30 -1.81 60.98 72.65 2.3M 4M 60.77
Current. Managed to hold the 18 day EMA as support Wednesday in some modest selling so let it ride for another session. Has to stay above the key support here at the average to keep us interested.
GOOG 12/29 Asc Bse 685.19 -6.29 703.55 785.00 4.3M 8M 695.85
Buy Not Hit.
GOOG 12/03 Cup hdl 685.19 -6.29 687.88 742.00 4.3M 8M 713.32
Current. Wednesday GOOG held the 50 day SMA after some modest selling and seeing if it can get through the early year push back. Still an excellent ascending base into 2008 that we would love to continue to ride higher if GOOG can hold up against the New Year for a bit here.
GOOG 11/17 Test 50 685.19 -6.29 659.65 724.95 4.3M 8.6M 713.32
Current.
GTI 12/15 Cup hdl 17.29 -0.46 19.04 22.95 1.1M 2M 17.71
Buy Not Hit. GTI with some harsh selling to continue even lower from the late December test of its Cup hdl. Wednesday saw a pickup in volume as GTI had to be dropped from the table, selling past the key 50 and 90 day SMAs.
HOLX 12/29 Test BO 67.51 -1.13 69.75 80.95 3.8M 3.2M 67.68
Buy Not Issued. HOLX with some hard selling back to the 18 day EMA on above average volume Wednesday as it held the average and late October highs as support. Has picked up speed in the test of the late December high now and just waiting for this one to bottom in the test before we can consider some entry points.
HOLX 12/15 Asc Bse 67.51 -1.13 67.88 77.65 3.8M 3.6M 69.39
ICE 12/17 Test BO 185.50 -7.00 185.36 209.95 1.3M 2.2M 188.11
Current. ICE with some rough selling back near the 18 day EMA at the close with a boost in volume. Just testing the late December Dbl btm high and decided to leave it alone another day to see if it can hold the 18 day EMA in the test. Needs to hold the average to stay out of trouble.
IMO 12/22 Rev HS 54.92 +0.14 55.15 65.95 317K 325K 54.57
Current. Closed flat Wednesday on average volume as IMO rests a bit after the solid December uptrend. Has a great Rev HS base to work higher from and looks to do so after this rest ends with volume picking up again.
ININ 12/19 Test 50 26.06 -0.29 26.98 32.38 217K 300K 25.77
Buy Not Issued. Doji Wednesday as ININ held the 50 day SMA intraday as support with below average volume. Looks to have bottomed in this pullback as selling momentum fades, but still keeping a close watch to see how ININ handles the New Year as the market tends to be a bit shaky here. Read to enter once ININ bottoms and shows its ready to start the Dbl btm higher.
IRM 12/11 Cup hdl 35.91 -1.11 38.52 44.45 418K 991K 36.89
Exited. Let this one go Monday and was a good decision as Wednesday saw IRM with some more downside movement on rising, below average volume. Finally found some support, however, at the 50 day SMA and late November lows. May give another buy soon if it can show some recovery from this selling into the New Year.
ISRG 12/27 Asc Bse 323.95 +0.95 335.35 395.00 835K 2.1M 323.11
Buy Not Hit. Closed flat with a doji Wednesday at the 18 day EMA to hold support there intraday. Downside momentum looks to be dried up here as ISRG holds at key support. Expecting a bounce higher soon, but with the market typically pretty shaky on the first couple sessions of the year we will watch closely to see how ISRG handles it and ready to enter if it gets strong volume in the bounce upside.
LKQX 12/18 Asc Bse 21.01 -0.01 21.57 25.95 1.2M 2M 21.45
Current. Nice doji at key support at the 18 day EMA Wednesday with rising, near average volume now. LKQX looks good to have bottomed here with the downside momentum fading and finally posting a doji at key support. Not bad.
MA 12/17 Test 18 214.68 -0.52 211.98 244.95 2M 4.8M 204.22
Current. MA with some light selling Wednesday on low volume as it continues to rest from mid December after the pullback from its DB hdl high. Still just waiting for volume to pick back up again before MA can make any solid moves higher, otherwise just taking it easy and resting into 2008.
MCD 12/26 Test 50 58.10 -0.81 60.57 69.75 7.8M 10M 59.69
Buy Not Hit. Sold past the key 50 day EMA on rising, now near average volume as MCD continues this test of the early December high. Had to let go of this one as it broke key support from the early November consolidation and 50 day EMA.
MDR 12/15 Cup hdl 59.83 +0.80 59.24 69.32 1.5M 3.4M 55.69
Buy Not Issued. Still continuing laterally along the upper 50s from its late December rest at the Cup hdl high. Just running on low volume for now and once trade picks up again MDR looks to be in good shape to take the base higher for the buy.
MOS 12/17 FlyPlat 94.74 +0.40 86.10 99.95 3.6M 5M 93.11
Current. MOS resting at the top of its December run into the mid 90s as it gave another close flat Wednesday. Saw the return of some average volume to start January off in decent shape as MOS just cools it for a bit.
MSFT 12/05 Test 50 35.22 -0.38 34.59 40.74 63M 90M 35.45
Current. Continued a bit lower into the New Year as MSFT met the 18 day EMA on a slight pickup in volume as it held the average and mid December high as support at the close. MSFT still in pretty good shape here as it tests back near the mid 30s and looks to bottom near here at key support soon.
NDAQ 12/13 Cup hdl 48.23 -1.26 48.32 56.00 1.6M 4M 47.98
Current. Struggling at the November high which is the high in NDAQs Cup hdl base as it sold back to the 10 day EMA Wednesday from light resistance at the prior high. Needs to hold near the 10 day EMA and make a run at that old high and take it out.
NVDA 12/20 Cup hdl 33.01 -1.01 35.57 41.65 12M 14M 33.98
Buy Not Issued. A victim of the chip sector downgrade as NVDA sold well past the 90 day SMA and 50 day EMA Wednesday. Both key averages as support for NVDA that it managed to hold Monday before the downgrade. Had to drop it after this negative action.
NYX 11/01 Test BO 84.65 -3.12 91.29 99.95 3.2M 7M 87.08
Current. Pretty hard selling Wednesday on rising, below average volume with NYX closing below the 50 day EMA. Needs to buck it up from here to stay out of trouble and on the table.
NYX 10/23 Cup 84.65 -3.12 88.85 99.95 3.2M 5M 87.08
Current.
ONXX 12/26 Asc Bse 55.74 +0.12 59.15 70.95 1.2M 1.8M 56.45
Buy Not Hit. ONXX still in a quiet test of the late December high of its Asc bse. Doji Wednesday to kick off 2008 in what looks to be the bottom of this short pullback. With the market typically pretty iffy here early in the year we will watch closely to see if ONXX continues lower, otherwise expecting a bounce upside soon for the buy with volume already back at average.
PZE 12/13 Cup hdl 13.80 -0.15 12.84 15.55 1.6M 400K 13.68
Current. Doji in the close flat Wednesday with high volume as PZE slowly tests its late December breakout in the Cup hdl. With the doji here it looks good to resume higher soon especially with volume still well above average. Nice.
RIMM 11/27 Test 50 113.71 +0.31 119.22 136.95 24M 32M 116.21
Current. RIMM still testing the massive gap from late December as it slowly works its way back to the 50 day SMA this week. Nice job holding the average as key support intraday Wednesday as RIMM looks to be in good shape to start upside again soon with volume rising and already near average.
SDS 12/12 Rolling 55.12 +0.94 53.96 60.75 12M 21M 55.08
Current. SDS heading uphill again from the late December pullback as it saw a nice pickup in volume Wednesday although still below average. Nice, progressive breakout as SDS continues to pick up speed from the late December bounce higher and in good shape to continue through the week.
SLB 12/29 Dbl btm 100.58 +2.21 100.93 114.95 9.2M 12M 98.48
Entered today. Gapped higher and climbed through the session for a great buy point. Saw the return of above average volume for SLB finally as it looks to continue higher from here this week. Nice.
SOHU 12/15 Cup hdl 52.26 -2.26 56.68 69.95 874K 2.6M 54.69
Current. One of our solid China positions as SOHU sold a bit but with low volume so let it test the 50 day EMA this week. Needs to hold here and looks good to do just that.
SRCL 12/27 Asc Tri 57.84 -1.56 59.65 69.95 696K 575K 57.42
Buy Not Issued. SRCL with some more selling Wednesday in this test of the late December high. Still selling on above average volume as it held the 50 day EMA at the close Wednesday and need to see SRCL bottom near here at key support to stay on the table.
SRCL 12/20 Asc Tri 57.84 -1.56 60.38 69.45 696K 575K 58.38
Buy Not Issued.
TKC 12/29 Pennant 27.47 -0.10 28.22 33.95 838K 2M 26.65
Buy Not Hit. Still inside its consolidation range from mid December as TKC continues its lateral movement from the test of its early December high. Just hanging around the upper 20s as it rests a bit along the bottom of this test, waiting for higher volume to start it upside again for the buy.
VIP 12/03 Test BO 43.74 +2.14 36.78 42.85 3.9M 5M 42.38
Current. Great rebound off the Monday low at the 10 day EMA as VIP starts uphill again from here with above average volume. In good shape to continue higher and take the Asc Bse into the mid 40s from here, just watching to see how it handles the shaky New Year market for early January.
VIP 11/08 Test 18 43.74 +2.14 32.52 40.45 3.9M 3.2M 42.38
Current.
WFT 12/05 Trnd Rv 70.95 +2.35 67.58 77.95 3.6M 6.1M 69.95
Current. WFT with a nice rebound from the Monday selling off the 10 day EMA as it saw a nice boost in volume to near average. Back in business here to resume the Cup hdl and head uphill early this month with volume rising.
XTO 12/12 DB hdl 52.14 +0.78 52.88 59.95 4.4M 5M 51.11
Buy Not Issued. Awesome job rebounding from the Monday low as XTO kicked off 2008 with a doji back at the key 18 day EMA to hold the average as support. Nice above average volume here with XTO recovering the harsh, late December selling. Needs to continue higher with this strong, rising volume for the buy.
YGE 12/17 Cup hdl 38.46 -0.24 35.48 42.50 2.5M 4.3M 39.88
Current. Doji to hold the 10 day EMA as support Wednesday with just below average volume in the session as YGE looks t have bottomed in this late December test of the Cup high. In good shape to start upside again soon with volume picking up and YGE holding near the key 10 day EMA.
Downside Plays
Stock Date Play Close +/- Pivot Tgt Vol TgtV Stop
GRMN 12/20 Put 92.10 -4.90 98.98 92.85 4.7M 6.4M 92.75
GRMN with a nice gap lower Wednesday on a boost of volume to post some solid downside movement for the start of the New Year. Held support from the late November and mid December lows near 91 at the close Wednesday and GRMN still in good shape to continue lower on this strong selling volume.
IWM 12/11 Put 75.16 -0.76 76.21 73.15 94M 90M 75.46
Current. Saw some decent selling Wednesday for IWM as it continues into January from the late December test of the 200 day SMA. Nice job of keeping up the selling from that test of the key average as IWM shows no signs of slowing down yet.
JAKK 12/29 Put 23.26 -0.35 23.54 22.00 257K 400K 24.05
Buy Not Issued. Fell quickly and then rebounded off an old TL so we will wait to see if it bounces a hair and then rolls back over. High volume Wednesday with trade continuing to pick up into the New Year as JAKK continued a bit lower Wednesday.
MDY 12/29 Put 154.05 -1.05 155.96 152.00 7.3M 5.5M 154.44
Saw some more smooth selling Wednesday on rising, above average volume as MDY continues lower from its late December test of the 200 day SMA. Looks great to keep up the downsides with this rising volume as MDY works its way back near the low 150s.
SMH 12/29 Put 31.36 -1.10 31.88 30.45 16M 9M 31.72
Entered today. Posted some excellent, high volume selling finally from the Monday doji as SMH broke past support from the mid December low near 32. Nice, high volume in the selling here with SMH setting up to continue even lower this week. Very nice.
SPY 12/11 Put 144.93 -1.28 147.98 143.65 204M 200M 145.38
Current. SPY on a boost of volume, back to average level finally, Wednesday with some modest selling to continue lower from the late December downsides. Tapped support intraday from the mid December low but looks to run right by the support on its way lower from here. Awesome volume.
End part 2 of 3
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