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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 02/06/2008
BZP (BPZ Resources, Inc.--$13.97; +0.12; optionable): Oil and gas drilling, exploration in Peru and Ecuador
http://biz.yahoo.com/p/b/bzp.html
STATUS: Test breakout. One of the few oil and gas stocks that is in stellar position. BZP broke higher Monday on strong trade, continuing a series of nice upside volume moves by the stock. The break higher took it out of a 13 week ascending base on strong volume. It has come back to test the past two sessions as the market sold off, holding the 10 day EMA on the intraday low and rebounding. A new issue in March 2007, this base is BZP's second. Looking for a bounce off of this test to give us the entry point.
Volume: 853.864K Avg Volume: 480K
BUY POINT: $14.12 Volume=850K Target=$16.95 Stop=$13.13
POSITION: BZP FV - June $12.50c (68 delta) &/or Stock
http://www.investmenthouse.com/ci/bzp.html
Play Date: 02/06/2008
SVNT (Savient Pharma--$21.10; +0.77; optionable): Biotech
http://biz.yahoo.com/p/s/svnt.html
STATUS: Test 50 day EMA. Massive breakout from an 11 month flat base in mid-December, as SVTN surged to 24 on the move. It has come back to test the past 4 weeks, holding the 50 day EMA (19.35) late in the month, making a short double bottom at that level. Volume started to push higher Tuesday and Wednesday as SVNT broke higher. Very nice action in a weak market. That tells us SVNT is worthy of our money. On a continued move showing solid trade we will be ready to move in.
Volume: 1.797M Avg Volume: 1.571M
BUY POINT: $21.33 Volume=2M Target=$25.95 Stop=$20.22
POSITION: UVP FD - June $20c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/svnt.html
Downside: We found some still ready to make their big plunge lower.
Play Date: 02/06/2008
FCX (Freeport McMoran--$84.97; -0.94; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: Announced 1-23-08
STATUS: Head and shoulders. A large 7 month top has formed on FCX. It broke sharply lower in mid-January, falling through the 200 day SMA (91.95) in that harsh selling. It bottomed at 69 on the day its earnings were released, starting the snapback from the test of the August lows. It rallied back up to the 200 day and then gapped lower Tuesday. Sagged a bit more Wednesday. Looking to move in as FCX moves below the November low on some rising trade. A move to the target lands a 44% gain.
Volume: 9.578M Avg Volume: 12.838M
BUY POINT: $84.68 Volume=13M Target=$77.55 Stop=$87.44
POSITION: FCX OQ - Mar. $85p (-46 delta)
http://www.investmenthouse.com/ci/fcx.html
Play Date: 02/06/2008
PCP (Precision Castparts--$108.80; -3.50; optionable): Metal fabrication
http://biz.yahoo.com/p/p/pcp.html
EARNINGS: 1-22-08
STATUS: Put. PCP formed an umbrella top October to December and then crashed below the bottom of its range in January and the harsh selling in that month. A nasty drop bottomed with the market two weeks back and PCP recovered. Unfortunately for it, it could not move past the 18 day EMA where it rolled over. Volume jumped up above average Wednesday as PCP broke sharply lower. Looks as if this bounce is over and it is ready to sell again. Our initial target is above its January lows so we can get us a nice gain (41%ish) without having to plow new ground.
Volume: 2.02M Avg Volume: 1.65M
BUY POINT: $108.21 Volume=2M Target=$100.15 Stop=$111.88
POSITION: PCP OB - Mar. $110p (-44 delta)
http://www.investmenthouse.com/ci/pcp.html
Play Date: 02/06/2008
SU (Suncor Energy--$91.26; -1.20; optionable): Canadian tar sands
http://biz.yahoo.com/p/s/su.html
EARNINGS: 4-24-08
STATUS: Double top. As long as oil prices were climbing these tar sands plays were getting a lot of money pushed their way. After SU double topped by virtue of the November and January peaks, it crashed lower in the market selling, undercutting the 200 day SMA (94.40) on massive volume. It bounced with the market and recovered above the 200 day SMA on Monday; there was hope. False hope, however, as it turned lower on strong volume Tuesday and was down again Wednesday. Lots of room to the downside after this failed test. A move to the target lands a 46%ish gain.
Volume: 2.126M Avg Volume: 2.572M
BUY POINT: $90.68 Volume=2.6M Target=$85.55 Stop=$93.11
POSITION: SU OR - Mar. $90p (-45 delta)
http://www.investmenthouse.com/ci/su.html
Play Date: 02/06/2008
UTX (United Technologies--$71.87; -0.48; optionable): Industrial jack of all trades
http://biz.yahoo.com/p/u/utx.html
EARNINGS: Head and shoulders. FCX is starting to turn back down, but there is a bigger story to this. It formed a 6 month head and shoulders through December and then crashed lower down to 65. It rebounded on its earnings, but then stalled out at the 200 day SMA and the 50 day EMA after bumping up against them the past week. This turn lower in price is following the downward turn in money flow. Looks ready to head lower and test some of that prior low. A move to the target lands a 53%ish gain.
STATUS:
Volume: 4.699M Avg Volume: 5.235M
BUY POINT: $71.44 Volume=5.5M Target=$67.38 Stop=$78.05
POSITION: UTX OO - Mar. $75p (-62 delta)
http://www.investmenthouse.com/ci/utx.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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us stock market
trade stock
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