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stock recommendation, stock investment information
Begin part 3 of 3
THE PLAYS:
Upside: Some leaders from the last major rally have set up in nice patterns once more
Play Date: 02/09/2008
JOYG (Joy Global--$64.06; -0.52; optionable): Farm and construction machinery
http://biz.yahoo.com/p/j/joyg.html
EARNINGS: 3-6-08
STATUS: Reverse head and shoulders. JOYG has set up again, forming a short 6 week pattern after the December breakout from its 6 month base failed in the January selling. It sold hard along with most of the market, but it recovered just as fast. It tested near support at the 10 day EMA (62.29) last week and then started to bounce. After this short breather we are looking for a strong volume break higher to give us a new entry point as it clears the old highs.
Volume: 2.231M Avg Volume: 1.998M
BUY POINT: $65.34 Volume=3M Target=$75.42 Stop=$62.11
POSITION: JQY DM - Apr. $65c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/joyg.html
Play Date: 02/09/2008
MA (MasterCard--$205.61; +4.73; optionable): Financial services
http://biz.yahoo.com/p/m/ma.html
EARNINGS: Announced 1-31-08
STATUS: Reverse head and shoulders. Made us some great money on its last move when it gapped higher on earnings. It has come back to test that move this month, holding the 50 day EMA (195) on the Thursday low and rebounding. Nicely formed 8 week base is setting up MA's next breakout move. Another leader in the last rally that has formed a base and is in position to break higher once more.
Volume: 2.921M Avg Volume: 3.827M
BUY POINT: $206.67 Volume=5M Target=$239.00 Stop=$199.45
POSITION: MAL DT - Apr. $200c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/ma.html
Play Date: 02/09/2008
POT (Potash--$137.50; -0.28; optionable): Fertilizer chemicals
http://biz.yahoo.com/p/p/pot.html
EARNINGS: Announced 1-24-08
STATUS: Reverse head and shoulders. Huge run in 2007; 2006 as well. It has not broken down, selling off in mid-January with the market, but then jumping right back up to hold the 50 day EMA (132). It tapped that level on the Thursday low and rebounded. Nice set up, just waiting for it to show us the breakout move yet again.
Volume: 5.347M Avg Volume: 5.409M
BUY POINT: $141.38 Volume=7.5M Target=$162.65 Stop=$135.78
POSITION: PYP FH - June $140c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/pot.html
Play Date: 02/09/2008
PTNR (Partner Communications--$22.00; +1.00; optionable): Wireless telecom
http://biz.yahoo.com/p/p/ptnr.html
EARNINGS: Announced 2-6-08
STATUS: Ascending base. Nice price surge Friday, breaking above the February highs and moving toward the breakout from its 9 week base. No volume on that move, so we will need to see it this week as it continues the breakout move. Solid fundamentals to go with the pattern as PTNR sets up to break to a new all-time high.
Volume: 268.658K Avg Volume: 267.9K
BUY POINT: $22.12 Volume=402K Target=$26.65 Stop=$20.74
POSITION: QPO ED - May $20c (68 delta, 47 OI) &/or Stock
http://www.investmenthouse.com/ci/ptnr.html
Play Date: 02/09/2008
RIMM (Research in Motion--$89.71; +4.76; optionable): Blackberries
http://biz.yahoo.com/p/r/rimm.html
EARNINGS: Third week March
STATUS: Double bottom. RIMM has made a couple of lows on the 200 day SMA (85.73) spanning the past three weeks after peaking in November at 130 and then selling back. Nice solid set up for a bounce higher. May not give us a run to a new high, but it can give us a nice profit as it makes this break higher from the key 200 day SMA and moves with several of the large cap techs that were roughed up in the January selling.
Volume: 22.997M Avg Volume: 30.308M
BUY POINT: $90.31 Volume=32M Target=$103.95 Stop=$85.45
POSITION: RFY FR - June $90c (51 delta) &/or Stock
http://www.investmenthouse.com/cd/rimm.html
Play Date: 02/09/2008
WFR (Memc Electronic--$75.68; +1.46; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/w/wfr.html
EARNINGS: Announced 1-24-08
STATUS: Reverse head and shoulders. Taking another look at WFR as it rebounded right back up after the Tuesday dump to some support at 70. Broke above its recent range Friday, but no volume. This is a short 5 week pattern that is part of a larger topping pattern, but WFR has set up to make the break higher, and if there is some volume as it makes the move it can break up that pattern and give us a very nice run higher.
Volume: 4.094M Avg Volume: 5.744M
BUY POINT: $77.94 Volume=7M Target=$93.50 Stop=$74.18
POSITION: WFR DO - Apr. $75c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/wfr.html
Downside:
Play Date: 02/09/2008
GRMN (Garmin Ltd.--$66.81; +0.66; optionable): GPS
http://biz.yahoo.com/p/g/grmn.html
EARNINGS: 2-20-08
STATUS: Put. After gapping lower on Tuesday and not really giving us the opportunity to play that downside move, GRMN has rebounded to just about fill the gap, moving through the 10 day EMA (67.19) on the Thursday and Friday highs but then unable to close the deal. Looking for a rollover to give us a downside play. A move to the target lands a 41%ish gain.
Volume: 3.649M Avg Volume: 5.451M
BUY POINT: $66.11 Volume=5.5M Target=$60.05 Stop=$67.82
POSITION: GQR OM - Mar. $65p (-39 delta)
http://www.investmenthouse.com/ci/grmn.html
Play Date: 02/09/2008
IWM (Ishares Russell 2000--$69.67; -0.44; optionable)
http://biz.yahoo.com/p/i/iwm.html
STATUS: Put. Looking to get right back in after getting shaken out on Friday as it moved higher, looking as if the small caps were going to break upside again as on Thursday. IWM closed below the 10 day EMA (70.07), however, showing its weakness at near resistance. If it moves down from here again we will be ready to move back in.
Volume: 86.493M Avg Volume: 99.325M
BUY POINT: $69.46 Volume=15M Target=$66.25 Stop=$70.72
POSITION: IQQ OR - Mar. $70p (-47 delta)
http://www.investmenthouse.com/ci/iwm.html
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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
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