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Begin part 3 of 3
Play Date: 01/14/2008
CI (Cigna--$56.05; +1.00; optionable): Healthcare plans
http://biz.yahoo.com/p/c/ci.html
EARNINGS: 2-6-08
STATUS: Double bottom w/handle. Nice base on base pattern the past 8 months, forming a double bottom w/handle the past 6 weeks on top of the 50 day EMA, forming the handle to the bigger base as well. Solid volume swell in late November as it surged off the bottom of the second bottom, and again the past week as it moved higher off the 50 day EMA following a quick test. Strong volume Monday as it tapped the 18 day EMA and rebounded for a nice gain. Ready to make the break; just has to show us the move.
Volume: 2.967M Avg Volume: 1.932M
BUY POINT: $56.48 Volume=2.9M Target=$66.95 Stop=$54.42
POSITION: CI DK - Apr. $55c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/ci.html
Play Date: 01/14/2008
IVGN (Invitrogen--$96.22; -0.06; optionable): Biotechnology
http://biz.yahoo.com/p/i/ivgn.html
EARNINGS: 2-5-08
STATUS: Cup w/handle. After an excellent run in 2007 IVGN needed to take a breather. This very nicely formed 6 week base showing solid up to down volume of late with a nice volume spike Monday. Nice hold at the 50 day EMA (92.16) shows plenty of support by the big money. May take another session or two to complete the handle before it makes the break but looks very good.
Volume: 1.45M Avg Volume: 805.536K
BUY POINT: $97.32 Volume=1.2M Target=$111.95 Stop=$94.39
POSITION: IUV ES - May $95c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/ivgn.html
Play Date: 01/14/2008
NOEC (New Oriental Energy Chemical--$7.47; +1.25; no options): Chinese fertilizer company
http://biz.yahoo.com/p/n/noec.html
STATUS: Cup w/handle. Surging volume Monday as the fertilizer stocks were on the buy list. A new issue in May 2007, it formed its first base starting in October. Some hard selling last week, but it held the 50 day EMA (5.78) on the low and then rebounding Friday and Monday on rising trade. Excellent action and looking to move in as NOEC continues the break high.
Volume: 2.904M Avg Volume: 206.067K
BUY POINT: $7.72 Volume=350K Target=$12.95 Stop=$7.19
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/noec.html
Play Date: 01/14/2008
RIG (Transocean--$141.75; +5.36; optionable): Offshore drilling
http://biz.yahoo.com/p/r/rig.html
EARNINGS: 2-20-08
STATUS: Test 50 day EMA. RIG made another test of its 50 day EMA (133.61), more or less, last week, coming back to test a strong surge to end December. It broke out from a 13 week base in early November and rallied higher. This is the test of the 50 day EMA that sets up the next run higher. We were looking for a bit more of a test, but it bounced before it made it there. Looking to take positions as it continues higher on this bounce.
Volume: 5.348M Avg Volume: 8.456M
BUY POINT: $142.22 Volume=10M Target=$162.95 Stop=$139.89
POSITION: RIG EH - May $140c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/rig.html
Downside:
Play Date: 01/14/2008
MS (Morgan Stanley--$48.90; +0.51; optionable): Investment brokerage
http://biz.yahoo.com/p/m/ms.html
EARNINGS: Mid-March
STATUS: Put. As with most financials, MS has trended lower, falling out of a 7 week trading range in early January as the financials broke lower once more on recession concerns. It bottomed last week and rebounded back to the 10 day EMA (49.22), but it rose on lower and lower volume. It tapped the 10 day on Fridays high and showed a doji at that level on Monday. Watching to see if that bounce is all that is in the tank. As it rolls over we will look at moving in with put options for the run down toward the January low (44.94) or lower if it continues selling. A move to the target lands a 50%ish gain.
Volume: 10.954M Avg Volume: 16.148M
BUY POINT: $48.35 Volume=17M Target=$45.00 Stop=$49.55
POSITION: MS NJ - Feb. $50p (-49 delta)
http://www.investmenthouse.com/ci/ms.html
Good Investing!
Jon L. Johnson and your IH Alerts Team
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 in 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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