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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 04/10/2008
ICO (International Coal Group--$6.79; +0.26; optionable): Coal
http://biz.yahoo.com/p/i/ico.html
EARNINGS: Early May
STATUS: Cup w/handle. A neat little 10 week base has formed over the 90 day SMA, showing impressive volume the past week as it bumps up at the breakout point. Lots of money being put to work in ICO. Nice base as it sits on tom of the June 2007 peak, a solid support level. Ready to move in as ICO makes the break higher it is ready to make.
Volume: 2.59M Avg Volume: 1.635M
BUY POINT: $6.98 Volume=2.5M Target=$8.95 Stop=$6.49
POSITION: ICO IA - Sept. $5c (80 delta) &/or Stock
http://www.investmenthouse.com/ci/ico.html
Play Date: 04/10/2008
INCY (Incyte--$10.82; -0.02; optionable): Biotechnology
http://biz.yahoo.com/p/i/incy.html
EARNINGS: Mid-May
STATUS: Cup w/handle. After a breakout and rally from last November, INCY has set up a neat little 8 week base that formed using the 200 day SMA on the low as support. It rallied higher through last week forming the right side of its base and it has eased back on very low volume to near support at the 10 day EMA (10.77), forming a very nice orderly handle. Solid money flow and just waiting for a break higher on strong trade to move into the play.
Volume: 748.428K Avg Volume: 1.798M
BUY POINT: $11.65 Volume=2.5M Target=$13.98 Stop=$10.81
POSITION: IPQ FB - June $10c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/incy.html
Play Date: 04/10/2008
LOW (Lowes--$24.53; +1.20; optionable): Home improvement stores
http://biz.yahoo.com/p/l/low.html
EARNINGS: 5-24-08
STATUS: Reverse head and shoulders. Volume surged Thursday as LOW moved toward the breakout from its 12 week base that formed along the 50 day EMA. This formed after a decline that started in early 2007 as the housing market really sold hard after peaking in mid-2005. It formed something of a double bottom spanning January and March, then the current pattern. Very interesting action with money flow surging higher ahead of price, ready to drag the price with it. Looking to take some positions on a further rise on volume.
Volume: 21.843M Avg Volume: 14.648M
BUY POINT: $25.25 Volume=16M Target=$30.35 Stop=$23.48
POSITION: LOW GE - July $25c (54 delta) &/or Stock
http://www.investmenthouse.com/cd/low.html
Play Date: 04/10/2008
MSCC (Microsemi--$24.71; +0.85; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/m/mscc.html
EARNINGS: Late April
STATUS: Cup w/handle. Bouncing off the 200 day SMA (23.90) Thursday, and it looks as if MSCC is ready to make the breakout from its 6 month base. It rallied to start the month, faded to form the handle this week, and is poised for the breakout as the chips recover. One of the best patterns we see in the pure semiconductor sector, and like how it has plenty of room to the upside to make us money without plowing new ground.
Volume: 998.494K Avg Volume: 1.279M
BUY POINT: $25.38 Volume=1.9M Target=$29.88 Stop=$23.60
POSITION: QMS IE - Sept. $25c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/mscc.html
Play Date: 04/10/2008
RSTI (Rofin-Sinar Tech--$45.39; +0.21; optionable): Industrial lasers and supplies
http://biz.yahoo.com/p/r/rsti.html
EARNINGS: 4-30-08
STATUS: Cup w/handle. Fading back the past week to the 10 day EMA (45) and form the handle to its 15 week base. Nice low volume on the test showing no selling just taking a breather and shaking out some easy sellers. Fell into the base after splitting in December, and that is not unusual. Very nice base ready for the break to a new all-time high. Very good pattern and very good fundamentals.
Volume: 100.99K Avg Volume: 322.083K
BUY POINT: $46.12 Volume=485K Target=$53.95 Stop=$44.16
POSITION: QRT FI - June $45c (57 delta, 126 OI) &/or Stock
http://www.investmenthouse.com/ci/rsti.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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