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Begin part 3 of 3
THE PLAYS: Still looking for an upside bounce after this selling, and these stocks held well during the market selling and are in good position to rebound and at least make us some nice trades.
New Post-Split Plays:
Play Date: 03/10/2008
DNA (Genentech--$78.21; -1.18; optionable): Biotechnology
http://biz.yahoo.com/p/d/dna.html
EARNINGS: Announced 2-14-08
STATUS: Test breakout. DNA reported approval of Avastin for breast cancer use and it shot higher - twice. It has come back on low volume the past three sessions, holding near support at the 10 day EMA (78). In a weak market it is a stock that is getting money. Want to see it hold here and rebound on rising trade to show us the buyers are back. That is when we move in.
Volume: 3.782M Avg Volume: 4.105M
BUY POINT: $80.05 Volume=6M Target=$90.00 Stop=$77.78
POSITION: DWN FP - June $80c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/dna.html
Play Date: 03/10/2008
ODFL (Old Dominion Freight Line--$28.20; -0.17; optionable): Trucking
http://biz.yahoo.com/p/o/odfl.html
EARNINGS: Announced 1-31-08
STATUS: Double bottom w/handle. Working on a five week handle to its 8 month base. Strong surge to end January and through mid-February, forming the right side of the base. It has slid back to test the 50 day EMA (27.19), bouncing off that level, showing some better volume as it makes the attempts. Trucking is improving in a weak market and economy; an enigma. Looking for a strong volume break upside to give us a nice run. Like tha tit can cover ground quickly; what you would expect from a truck line, huh?
Volume: 504.293K Avg Volume: 560.114K
BUY POINT: $29.55 Volume=840K Target=$35.45 Stop=$27.48
POSITION: QPS GF - July $30c (51 delta, 80 OI) &/or Stock
http://www.investmenthouse.com/ci/odfl.html
New Pre-Announcement Plays:
Play Date: 03/10/2008
ACV (Alberto-Culver--$27.51; +0.58; optionable): Personal products
http://biz.yahoo.com/p/a/acv.html
EARNINGS: Announced 1-28-08
STATUS: Breakout test. After a strong surge in Late January that took ACV out of a 7 month base. After that high volume breakout it has worked laterally, coming back to test the 50 day EMA (26.28) last week on lighter trade, bouncing Friday and then Monday, showing strong volume to start the week. Weak economy, strong consumer products. Looking for a further move to give us the buy point.
Volume: 1.222M Avg Volume: 832.506K
BUY POINT: $27.95 Volume=850K Target=$31.95 Stop=$26.64
POSITION: ACV FE - June $25c (70 delta, 114 OI) &/or Stock
http://www.investmenthouse.com/cs/acv.html
Play Date: 03/10/2008
UPL (Ultra Petroleum--$74.59; -0.83; optionable): Independent oil and gas
http://biz.yahoo.com/p/u/upl.html
EARNINGS: Announced 2-19-08
STATUS: Test breakout. UPL is coming back to the 50 day EMA (73.33), testing the early February breakout from a 15 week base. Strong run and a nice easy pullback toward key support. Going to let it make the full test of that level and then grab it as it rebounds on some stronger volume.
Volume: 711.848K Avg Volume: 1.309M
BUY POINT: $75.48 Volume=1.6M Target=$84.95 Stop=$73.21
POSITION: UPL FO - June $75c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/upl.html
Good Investing!
Jon L. Johnson and the Stock Split Report 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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