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stock recommendation, stock market report
Begin part 3 of 3
THE PLAYS:
Upside:
GENZ (Genzyme--$78.50; -0.18; optionable): Biotechnology
http://biz.yahoo.com/p/g/genz.html
EARNINGS: 2-13-08
STATUS: Breakout test. Broke higher last week on strong volume on news of an acquisition. Nice 10 week ascending base formed using the 50 day EMA (74.33) to make higher lows. Strong volume on the breakout, lower volume on the test as the 10 day EMA (77.57) rose to meet it. Nice jump in volume Tuesday as GENZ moved up off the 10 day. Looking to move in as it continues its strong break higher.
Volume: 3.197M Avg Volume: 2.677M
BUY POINT: $79.48 Volume=3M Target=$91.45 Stop=$76.55
POSITION: GAA DP - Apr. $80c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/genz.html
Play Date: 01/15/2008
NUVA (Nuvasive--$40.05; +1.65; optionable): Products for surgical treatment of spine disorders
http://biz.yahoo.com/p/n/nuva.html
EARNINGS: 10-24-08
STATUS: Test breakout. NUVA surged higher in late October on strong earnings results, capping a strong 4-month run. It peaked out at 44 and then spent the past 10 weeks testing back during the market chop, selling down to support at 38. It held that support this past week and then bounced Tuesday on the strongest volume in a month. Could not hold all of the move but looks strong in a weak market, and certainly is getting some money as it is in one of the 'right' sectors.
Volume: 593.895K Avg Volume: 392.262K
BUY POINT: $40.85 Volume=395K Target=$48.95 Stop=$39.31
POSITION: QNU CH - Mar. $40c (56 delta) &/or Stock
http://www.investmenthouse.com/cd/nuva.html
Downside: Look ready to sell further even with the market decline thus far.
Play Date: 01/15/2008
GRA (W.R. Grace & Co.--$20.15; -1.81; optionable): Chemicals
http://biz.yahoo.com/p/g/gra.html
EARNINGS: 1-30-08
STATUS: Put. GRA peaked in mid-October then started testing. It tested, and tested, and tested some more. It fell through the 200 day SMA up at 25.75, tried to recover it, then rolled over to start 2008. It is coming off a test of near resistance at the 10 day EMA (22.21), dropping hard Tuesday on a volume spike. Looking to move in as GRA continues its move lower, but want to see how it responds to Wednesdays weaker open. A move down to the target lands a 47%ish gain.
Volume: 1.886M Avg Volume: 902.078K
BUY POINT: $19.95 Volume=1M Target=$18.03 Stop=$20.55
POSITION: GRA ND - Feb. $20p (-47 delta)
http://www.investmenthouse.com/ci/gra.html
Play Date: 01/15/2008
PCU (Southern Copper--$94.58; -4.69; optionable): Copper
http://biz.yahoo.com/p/p/pcu.html
EARNINGS: Third week January
STATUS: Head and shoulders. PCU has formed a large 6 month top and is just now falling from its right shoulder after it breached the 200 day SMA (103.53) last week. It tried to hold, but as the 10 day EMA (99.74) sat down on it, it started to break down from its week long lateral consolidation attempt. Looking to move in as it continues the break lower. Will have to see where it opens on Wednesday given the negative earnings news in the market. On a bounce from a lower open we can use that to enter.
Volume: 2.025M Avg Volume: 2.117M
BUY POINT: $94.08 Volume=2.5M Target=$87.75 Stop=$96.11
POSITION: PCU NS - Feb. 95p (-51 delta)
http://www.investmenthouse.com/ci/pcu.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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stock recommendation
stock market report
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