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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 04/04/2008
ANR (Alpha Natural Resources--$44.72; +2.99; optionable): Industrial metals
http://biz.yahoo.com/p/a/anr.html
EARNINGS: Second week of May
STATUS: double bottom with handle. Strong volume again Thursday as ANR surged off the 10 day EMA test, breaking out of a 7 week base that formed using the 50 day EMA as support for the two bottoms. Strong volume surge this week ahead of the breakout as money flow breaks out as well. Excellent relative strength ready to breakout as well. Ready to move in as it continues this nice break to a new high.
Volume: 5.253M Avg Volume: 3.052M
BUY POINT: $45.12 Volume=4.6M Target=$53.95 Stop=$41.96
POSITION: ANR FI - June $45c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/anr.html
Play Date: 04/04/2008
FCX (Freeport McMoran--$103.69; +3.96; optionable): Copper
http://biz.yahoo.com/p/f/fcx.html
EARNINGS: 4-22-08
STATUS: Reverse head and shoulders. FCX is breaking higher on strong, above average volume, moving out of a 5 week base that is at the tail end of a longer 6 month base that is itself a reverse head and shoulders. Looking for a ride back up to the prior highs at 120ish to give us an excellent gain. Metals showing a lot of character here.
Volume: 17.154M Avg Volume: 13.706M
BUY POINT: $105.57 Volume=18M Target=$120.95 Stop=$99.89
POSITION: FCX HA - Aug $105c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/fcx.html
Play Date: 04/04/2008
ME (Mariner Energy--$26.92; -0.08; optionable): Oil and gas drilling
http://biz.yahoo.com/p/m/me.html
EARNINGS: 5-20-08
STATUS: Test 50 day EMA. Strong breakout in late February as ME moved out of a 9 month base. Strong volume and a strong price move that took it up to 30. It has tested back as the market sold, showing an orderly lower volume pullback to hold over the 50 day EMA (26.37). The range has tightened into a very narrow two week lateral move even as money flow turns back to the upside. Very nice action, preparing ME for a new all-time high. Very nice.
Volume: 661.916K Avg Volume: 1.001M
BUY POINT: $27.65 Volume=1.5M Target=$33.45 Stop=$26.32
POSITION: ME HE - Aug. $25c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/me.html
Play Date: 04/04/2008
SID (Companhia Siderurgical Nacional--$38.20; +0.68; optionable): Steel
http://biz.yahoo.com/p/s/sid.html
EARNINGS: Announced 3-10-08
STATUS: Test 50 day EMA. Nice run for SID from mid-January to late February, and now it is consolidating that move, working laterally the past 6 weeks slowly fading as the 50 day EMA (25.91) slowly moves up to it. Volume started to move higher this week and SID started to move off the 50 day EMA. Strong money flow continues to lead higher and we are ready to move into SID as it makes the next run.
Volume: 3.849M Avg Volume: 4.106M
BUY POINT: $38.77 Volume=4.5M Target=$46.45 Stop=$36.88
POSITION: SID FG - June $35c (73 delta) &/or Stock
http://www.investmenthouse.com/ci/sid.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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us stock market
stock recommendation
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