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stock trading site, stock trading information
Begin part 3 of 3
THE PLAYS:
Upside: Some excellent stocks have formed up some excellent patterns
Play Date: 02/07/2008
AGN (Allergan--$67.31; +0.59; optionable): Consumer drugs, health products
http://biz.yahoo.com/p/a/agn.html
EARNINGS: Announced 1-30-08
STATUS: Trading range. AGN is making a higher low over its 50 day EMA (65.65), tapping at that level Thursday and then bounce higher on rising volume. This higher low occurs after a 16 week rolling pattern/trading range, and this higher low often precedes a breakout from that range. A breakout takes it to a new all-time high. If we see that break higher it is a buy.
Volume: 2.178M Avg Volume: 2.126M
BUY POINT: $68.88 Volume=3M Target=$78.95 Stop=$65.55
POSITION: AGN DM - Apr. $65c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/agn.html
Play Date: 02/07/2008
FMX (Fomento Economico--$38.70; +1.63; optionable): Corona and other Mexican brews
http://biz.yahoo.com/p/f/fmx.html
STATUS: Reverse head and shoulders. Volume was up Thursday as FMX broke higher off the 200 day SMA (36.42), moving up to the December high and the breakout point from its 7 month base that is part of a larger base. This kind of pattern often forms at the bottom of a larger base, giving it the push to start rallying toward the breakout. Has several things going for it: good pattern, good accumulation, beer, foreign economy, beer.
Volume: 1.434M Avg Volume: 1.241M
BUY POINT: $39.14 Volume=1.9M Target=$45.00 Stop=$37.11
POSITION: FMX DG - Apr. $35c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/fmx.html
Play Date: 02/07/2008
MM (Metal Management--$52.70; +2.70; optionable): Steel and iron
http://biz.yahoo.com/p/m/mm.html
EARNINGS: Announced 2-6-08
STATUS: Double bottom with handle. Riding its strong earnings higher reported Wednesday, MM is making the breakout from its 17 week base. The base formed after gapping higher in late September to a new high; it could not hold and it fell into this base. Very nice base at that, with great accumulation the past month, and money flow surging higher. This stock certainly looks ready to surge to a new high, a signal not all is wrong in the world economies.
Volume: 552.5K Avg Volume: 380.357K
BUY POINT: $53.21 Volume=450K Target=$61.31 Stop=$49.97
POSITION: MM DJ - Apr. $50c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/mm.html
Play Date: 02/07/2008
RTN (Raytheon Co.--$66.00; +1.65; optionable): Aerospace/defense
http://biz.yahoo.com/p/r/rtn.html
EARNINGS: Announced 1-31-08
STATUS: Breakout test. RTN broke higher on its earnings, moving out of a 16 week double bottom base to a new 8 year high. Got a bit dicey in the January selling, but it recovered very quickly (one day) and made the breakout. It came back to test early this week, tapping down at the 18 day EMA and then vaulting higher Thursday on a strong volume surge. Ready to move in as it continues the breakout move.
Volume: 4.243M Avg Volume: 3.042M
BUY POINT: $66.48 Volume=3M Target=$76.45 Stop=$64.34
POSITION: RTN EM - May $65c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/rtn.html
Downside:
Play Date: 02/07/2008
USO (United States Oil Fund ETF--$69.80; +0.78; optionable)
http://biz.yahoo.com/p/u/uso.html
STATUS: Head and shoulders. This ETF matches the price action of West Texas Intermediate light sweet crude. After a run, oil is peaking. This pattern shows it: the rally into November, the fall, the rally to a higher high in early January, then the fall back to same level after the left shoulder. It started to break lower Tuesday on strong volume, bounced back up Thursday on very low volume. It is ready to roll over.
Volume: 3.269M Avg Volume: 3.537M
BUY POINT: $69.38 Volume=3.6M Target=$66.25 Stop=$70.12
POSITION: UNA OR - Mar. $70p (-51 delta)
http://www.investmenthouse.com/ci/uso.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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