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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 02/27/2008
JBHT (JB Hunt Transportation--$28.67; -0.68; optionable): Trucking
http://biz.yahoo.com/p/j/jbht.html
EARNINGS: Announced 1-29-08
STATUS: Cup w/handle. Some prime evidence that the market views the economy as in the recovery stage or heading toward it. The truckers have rallied back up off the January lows, forming the right side of their bases. This month they have pulled back, JBHT included, to form handles. JBHT has held back to the 50 day EMA, filling the late January gap higher on its earnings announcement. It has shown some high volume spikes at the 50 day EMA, holding that key support. Looking for a solid bounce off of this level to give us the buy point on this recovery.
Volume: 4.184M Avg Volume: 2.342M
BUY POINT: $29.65 Volume=3.5M Target=$35.55 Stop=$28.11
POSITION: JHQ EF - May $30c (47 delta) &/or Stock
http://www.investmenthouse.com/ci/jbht.html
New buy points on current positions:
Play Date: 02/27/2008
AGU (Agrium--$73.88; -0.19; optionable): Agricultural chemicals
http://biz.yahoo.com/p/a/agu.html
EARNINGS: Announced 2-13-08
STATUS: Breakout test. AGU surged higher on the breakout from its short double bottom with handle, making us some solid scratch on the move. We took some off the table Tuesday as it gapped higher then waffled. It is coming back to test, and we are looking for it to land near the 10 day EMA (70.42), use that as support, and then rebound from there to continue the run and make us some more money. As this is the first test of the breakout, it still has plenty of room to the upside. Like how it hit a new high on solid volume, showing there are still buyers on the move and not just a low volume second peak doomed to failure.
Volume: 4.164M Avg Volume: 3.34M
BUY POINT: $71.11 Volume=5M Target=$81.95 Stop=$70.22
POSITION: AGU GN - July $70c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/agu.html
Play Date: 02/27/2008
CMED (China Medical Technologies--$55.46; -0.11; optionable): Chinese medical instruments
http://biz.yahoo.com/p/c/cmed.html
EARNINGS: 2-28-08 after the close
STATUS: Breakout test. Coming back to test the near support at the 10 day EMA (53.62) after the strong breakout from the short double bottom with handle base last week, part of a base on base that started in November. Nice volume on the break higher, lower volume on the pullback to near support where it tapped and then rebounded Wednesday. Excellent action and looking to add to positions as CMED comes off of this test.
Volume: 770.604K Avg Volume: 601.798K
BUY POINT: $56.12 Volume=850K Target=$64.55 Stop=$53.48
POSITION: QCY FK - June $55c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/cmed.html
Play Date: 02/27/2008
COIN (Converted Organics--$12.98; +0.60; no options): Ag chemicals
http://biz.yahoo.com/p/c/coin.html
STATUS: Test breakout. Another stock that has made us some nice money already, COIN has come back to test the 10 day EMA (11.68), the first test of the breakout from its 5 week cup with handle base. Wednesday it tapped at the 10 day EMA and then reversed for a solid gain. Looking to step in with some more positions as COIN continues the next leg higher.
Volume: 1.782M Avg Volume: 1.023M
BUY POINT: $13.32 Volume=2M Target=$16.00 Stop=$12.39
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/coin.html
Play Date: 02/27/2008
KWK (Quicksilver Resources--$34.06; -0.67; optionable): Independent oil and gas
http://biz.yahoo.com/p/k/kwk.html
EARNINGS: Announced 2-26-08
STATUS: Test breakout. KWK surged higher on the strong earnings, perfect for banking some gain. After its run from the early February breakout from a 3 month base, KWK is finally testing, coming back to tap the 18 day EMA (32.75) on the Tuesday low. It gapped lower on Wednesday, continuing the test, holding the 10 day EMA on the close, showing a doji on lower volume. Going to let KWK complete its test and then when it rebounds we will be ready to move in with some more positions. Still plenty of upside as this is just the second test of its early February breakout.
Volume: 2.238M Avg Volume: 2.293M
BUY POINT: $34.68 Volume=3M Target=$39.95 Stop=$32.95
POSITION: KWK FZ - June $32.50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/kwk.html
CONTINUING PLAYS:
Upside:
Play Date: 02/23/2008
ADM (Archer Daniels Midland--$45.23; -0.69; optionable): Corn
http://biz.yahoo.com/p/a/adm.html
EARNINGS: 5-7-08
STATUS: Double bottom w/handle. Still on the verge of the breakout, testing back Wednesday on low volume, still holding above the 10 day EMA, making a higher low as it readies to make the break over resistance at 46. To recap: Nice set up here as it sold back on Friday to tap at the 18 day EMA (43.83) on lower, below average volume, then bouncing modestly to hold near support. This is forming the handle to a 7 week double bottom using the 50 day EMA and the 90 day SMA on the lows as support. Part of a much larger 22 month double bottom with handle, and this pattern is the last part of that larger base. Large base, large run on the breakout. Part of the corn craze (a.k.a. ethanol insanity), so there is a continuing demand for its products. After this pullback looking for a new strong breakout to give us the entry point.
Volume: 4.489M Avg Volume: 6.71M
BUY POINT: $46.15 Volume=10M Target=$53.95 Stop=$43.94
POSITION: ADM FI - June $45c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/adm.html
Play Date: 02/26/2008
AMX (America Movil--$64.17; -0.01; optionable): Latin American wireless
http://biz.yahoo.com/p/a/amx.html
EARNINGS: Announced 2-6-08
STATUS: Reverse head and shoulders. Tried to continue the move on Wednesday, but faded back to flat on lower, average volume. Still a solid break higher but it may pause some as the market pauses. When it shows the stronger move higher, however, it is a buy whether the market is moving with it or not. To recap: Strong volume Tuesday as AMX broke higher from its 11 week base formed at the tail end of an 8 month base. A big mover from 2005 to 2007, it needed this base to consolidate the gains and set up the foundation for the next move higher. Looking to take some positions as AMX continues this break higher.
Volume: 6.931M Avg Volume: 6.704M
BUY POINT: $64.55 Volume=7.5M Target=$74.25 Stop=$62.11
POSITION: AMX HN - Aug. $65c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/amx.html
Play Date: 02/26/2008
ASIA (Asiainfo Hldgs--$11.64; +0.07; optionable): Security software
http://biz.yahoo.com/p/a/asia.html
EARNINGS: Announced 2-14-08
STATUS: Cup w/handle. Still working on the handle, moving laterally as the 18 day EMA rises to meet it. Just waiting for the breakout to show itself. To recap: Nice volume the past week as ASIA surged off the bottom of its 11 week base. After that move it tested, forming the handle with a week long lateral move that allowed the 10 day EMA (10.72) to catch up with it. That is when a breakout usually takes off once more. Looking to move in when it does.
Volume: 381.587K Avg Volume: 446.457K
BUY POINT: $12.32 Volume=669K Target=$14.95 Stop=$11.46
POSITION: EUJ GV - July $12.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/asia.html
Play Date: 02/26/2008
FSTR (L.B. Foster--$46.04; -0.42; optionable):
http://biz.yahoo.com/p/f/fstr.html
EARNINGS: Announced 1-31-08
STATUS: Double bottom. Made the move higher on Wednesday but could not hold the move as volume was next to nothing. Still an excellent setup; may slide laterally to form a handle here. Either way it is going to be a nice set up for a breakout. To recap: Nicely formed 8 week base that formed using the 200 day SMA as support. Improving volume as it bounced off of that support and moved up to the 'hump' in the pattern at 46.40. FSTR rallied to challenge that level Tuesday. Nice set up and looking to move in as FSTR continues the break higher.
Volume: 133.734K Avg Volume: 238.779K
BUY POINT: $47.11 Volume=350K Target=$56.55 Stop=$45.08
POSITION: FQD EI - May $45c (61 delta, 115 OI) &/or Stock
http://www.investmenthouse.com/ci/fstr.html
Play Date: 02/16/2008
GIGM (Gigamedia--$20.70; +0.19; optionable): Online gaming software
http://biz.yahoo.com/p/g/gigm.html
STATUS: Double bottom w/handle. Gapped higher but faded as no volume came in to support it. Still solid, still ready to make the breakout. To recap: Nice 15 week base has set up the breakout, laying the foundation for a new run after GIGM's strong rally from August to November. Spent the last week working laterally over the 90 day SMA after a high volume jump to start the week. May take a few more sessions to finish the base, but setting up well with money flow leading higher.
Volume: 403.837K Avg Volume: 989.43K
BUY POINT: $20.78 Volume=1.6M Target=$24.95 Stop=$19.33
POSITION: GBU GD - July $20c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/gigm.html
Play Date: 02/25/2008
HAL (Halliburton--$37.55; -0.01; optionable): Oil and gas service company
http://biz.yahoo.com/p/h/hal.html
EARNINGS: Announced 1-28-08
STATUS: Double bottom. Started higher Wednesday, continuing the move higher, but ran out of volume and steam with the move fading back to flat. Still solid and after this pause it is ready for a buy as it continues higher. To recap: HAL is working on an 18 week base; rather skewed and violent, but double bottoms are the 'scare them out' type of bases versus the slow moving 'grind them out' ones. Big plunge to start the year and form the second leg, rebounding up to mid-February where it ran into the 200 day SMA (36.30) where it stalled. It did not fall, however, just moved laterally over the 200 day on lower volume and then broke higher Monday and clearing the recent high on strong, above average volume, the best in a month. Like that money surge and ready to move in as HAL continues its break higher.
Volume: 11.165M Avg Volume: 13.199M
BUY POINT: $37.55 Volume=15M Target=$42.95 Stop=$36.11
POSITION: HAL GT - July $37.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ct/hal.html
Play Date: 02/26/2008
URBN (Urban Outfitters--$30.78; -0.20; optionable): Apparel stores
http://biz.yahoo.com/p/u/urbn.html
EARNINGS: 3-6-08
STATUS: Ascending base. Lower volume test Wednesday after that strong volume Wednesday breakout. Just waiting for this test to end and then we pick up URBN as it continues the move. To recap: Strong volume Tuesday as URBN cleared a 10 week base that formed with a series of higher lows along the 50 day EMA. Nice break to a 2 year high and we are looking to move in as this leading retailer continues to enjoy climb higher.
Volume: 4.598M Avg Volume: 3.876M
BUY POINT: $31.24 Volume=3.9M Target=$37.48 Stop=$29.48
POSITION: URQ FF - June $30c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/urbn.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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us stock market
stock recommendation
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