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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside: Some nice stocks ready to make an upside move in a rebound.
Play Date: 03/04/2008
DNR (Denbury Resources--$32.34; +0.35; optionable): Independent oil and gas
http://biz.yahoo.com/p/d/dnr.html
STATUS: Cup w/handle. Big volume Tuesday as DNR held the 10 day EMA (31.50) on the low as it continues working on the week long handle to its 8 week base. Very nice rest stop as DNR pauses to set up for a new breakout to a new high. Excellent set up and just waiting for it to make the break higher on continued strong volume.
Volume: 3.301M Avg Volume: 2.168M
BUY POINT: $33.11 Volume=3M Target=$39.75 Stop=$31.24
POSITION: DNR FZ - June $32.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/dnr.html
Play Date: 03/04/2008
ESV (Ensco Intl.--$60.97; +1.75; optionable): Oil and gas service company
http://biz.yahoo.com/p/e/esv.html
STATUS: Cup w/handle. Strong volume the past two weeks as ESV broke higher in its 9 week base and then spent the past week testing on lower trade, waiting for the 10 day EMA (59.03) to catch up to it. It did that Monday and Tuesday, and Tuesday ESV jumped off the near support on a tremendous volume surge. Strong money flow is leading the way higher. When it makes the breakout we are ready to move in.
Volume: 5.401M Avg Volume: 2.792M
BUY POINT: $61.89 Volume=3.8M Target=$70.95 Stop=$58.91
POSITION: ESV FL - June $60c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/esv.html
Play Date: 03/05/2008
IBM (International Business Machines--$115.71; +1.48; optionable)
http://biz.yahoo.com/p/i/ibm.html
EARNINGS: Announced 1-17-08
STATUS: Double bottom w/handle. IBM has carved out a 5 month base, surging last week to clear the hump in the pattern formed with the December high at 112. It is testing that move, working laterally the pat week on low, below average volume following that high volume surge. Monday the 10 day EMA (113) caught up with it and IBM jumped higher. Volume was up but it could be better. Looking for more trade as IBM makes the next break higher.
Volume: 8.594M Avg Volume: 8.983M
BUY POINT: $116.88 Volume=12M Target=$133.95 Stop=$112.55
POSITION: IBM GC - July $115c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/ibm.html
Play Date: 03/05/2008
STLD (Steel Dynamics--$60.24; -0.15; optionable): Steel and iron
http://biz.yahoo.com/p/s/stld.html
EARNINGS: Announced 1-28-08
STATUS: Cup w/handle. Nice handle testing the 18 day EMA (57.89) has formed the past week and a half, easing back to test near support after forming a nice 9 week pattern. Volume edged up to average Monday and bounced above average Tuesday as STLD tested the waters for a breakout. It faded to flat but looks very solid. Just waiting for the break higher on more solid trade and we are in.
Volume: 2.433M Avg Volume: 2.066M
BUY POINT: $62.21 Volume=3M Target=$71.55 Stop=$58.55
POSITION: RQL EL - May $60c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/stld.html
Play Date: 03/05/2008
VIVO (Meridian Biosciences--$34.42; -0.16; optionable): Diagnostic substances
http://biz.yahoo.com/p/v/vivo.html
EARNINGS: Announced mid-February
STATUS: Cup w/handle. Excellent volume the past two weeks as VIVO bounced up off the 50 day EMA (32.50) and then volume faded as it tested slightly lower to the rising 10 day EMA (33.92). When it go there volume jumped Tuesday. This is part of a larger 5 month ascending base setting VIVO up for a breakout to a new all-time high. Very nice.
Volume: 496.301K Avg Volume: 376.132K
BUY POINT: $35.22 Volume=550K Target=$40.95 Stop=$33.25
POSITION: ZUG GG - July $35c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/vivo.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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trade stock
stock recommendation
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