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stock split, stock recommendation
Begin part 3 of 3
THE PLAYS: Looking to the upside as see several patterns developing across several sectors after the indices held support in grim circumstances.
New Post-Split Plays:
Play Date: 03/17/2008
CSX (CSX Corp.--$51.31; +2.34; optionable): Railroads
http://biz.yahoo.com/p/c/csx.html
EARNINGS: 4-15-08
STATUS: Double bottom w/handle. CSX broke higher in mid-February from an 8 month double bottom with handle base, rallying well at first. Then it sold off to end February and start March. It held the 50 day SMA on the low, however, and formed a short reverse head and shoulders pattern. Bounced, then on Monday surged on huge volume. The transports, whether rails or trucking, continues to improve, and as we have said that is a positive for the economy. Looking to move in on CSX as it continues its break higher.
Volume: 16.167M Avg Volume: 6.115M
BUY POINT: $51.65 Volume=7.5M Target=$59.45 Stop=$48.45
POSITION: CSX HJ - Aug. $50c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/csx.html
Play Date: 03/17/2008
HCBK (Hudson City Bancorp--$17.01; +0.67; optionable): Savings and loans
http://biz.yahoo.com/p/h/hcbk.html
EARNINGS: Third week of April
STATUS: Double bottom w/handle. Whoa. A savings and loan looks very good. All during the banking issues HCBK did not suffer but prospered. It ran into some issues in the January selling, but finished its 16 week base and broke out. It immediately formed another base given the market choppy action, but as the market sold off it formed a short double bottom at the 50 and 90 day MA. Made a quick handle last week, gapped lower on Monday, but held the 50 day EMA (15.75) on the open and then surged higher to a new all-time high on strong trade. Great action and looking to move in as HCBK continues its run higher.
Volume: 12.68M Avg Volume: 8.216M
BUY POINT: $17.18 Volume=9M Target=$20.95 Stop=$15.98
POSITION: KHQ GW - July $17.50c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/hcbk.html
Pre-Announcement Play: New buy point on a current position
Play Date: 03/17/2008
STLD (Steel Dynamics--$67.12; -0.51; optionable): Steel
http://biz.yahoo.com/p/s/stld.html
EARNINGS: Last week of April
STATUS: Test breakout. STLD formed a nice 10 week base and then broke higher last week after taking its time in the handle. Strong volume as it made that initial move Tuesday through Thursday, taking a breather Friday, then testing back Monday as the metals were sold as part of the leader profit taking. Volume was lower on STLD as it did fade back, indicating no heavy duty selling; certainly not in line with the strong upside volume last week. Damn nice recovery Monday from a gap lower, and looking to move in on this bad boy as it moves higher and continues its breakout run.
Volume: 2.737M Avg Volume: 2.2M
BUY POINT: $67.88 Volume=3M Target=$77.95 Stop=$63.95
POSITION: RQL HN - May $70c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/stld.html
New Leader Plays:
Play Date: 03/17/2008
ABX (Barrick Gold--$52.32; -0.99; optionable): Gold mining
http://biz.yahoo.com/p/a/abx.html
EARNINGS: Announced 2-21-08
STATUS: Ascending base. Gold stocks were under some pressure Monday even as gold moved higher over 1000, but most just tested back. ABX did the same, tapping the 18 day EMA (51.32) on the low and rebounding to most a rather modest loss. Volume was higher but when a stock holds support that is not necessarily a bad thing as it shows buyers supporting it at that level. Nice base on base pattern here with this 10 week ascending pattern up the 50 day EMA (49.38) forming after the early January breakout from an 8 week cup base. After this test we are watching to see if ABX can attract some more strong volume on the upside.
Volume: 11.342M Avg Volume: 10.9M
BUY POINT: $54.05 Volume=16M Target=$64.95 Stop=$51.21
POSITION: ABX GJ - July $50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/abx.html
Play Date: 03/17/2008
CHK (Chesapeake Energy--$45.90; -2.00; optionable): Independent natural gas producer
http://biz.yahoo.com/p/c/chk.html
EARNINGS: Announced 2-21-08
STATUS: Test breakout. CHK surged higher off an 18 day EMA (45.46) test last week, continuing the February breakout from a 14 week base. Strong move on Thursday, then sold back some Friday before gapping lower Monday. It held the 18 day EMA on the low and rebounded to cut some losses. Volume faded Monday as it made that test. Looks as if CHK was caught up in the overall selling in energy. Want it to hold the 18 day EMA and then deliver a move back to the upside to give is a buy that we can take advantage of the pullback and get a good buy point on this leader.
Volume: 10.878M Avg Volume: 9.434M
BUY POINT: $47.05 Volume=12M Target=$53.95 Stop=$46.12
POSITION: CHK GI - July $45c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/chk.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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stock split
stock recommendation
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