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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS: Have some great continuing plays from across the market that are ready to move and we added some other very nice upside patterns tonight.
Upside:
Play Date: 04/15/2008
CY (Cypress Semiconductor--$26.83; +1.12; optionable): Semiconductors
http://biz.yahoo.com/p/c/cy.html
EARNINGS: 4-17-08
STATUS: Double bottom w/handle. Earnings are Thursday and CY has set up well, forming a double bottom spanning January to March, then rallying higher to the 200 day SMA (27.64) to start April. Form there it has formed a handle just over a week long, moving lower to test the 10 day EMA. It held that level Monday and Tuesday was up on a strong shot of above average volume. Tried the 200 day Tuesday, and we are looking for a move over that level on volume to show us the buyers are back in force and to give us the buy point.
Volume: 7.401M Avg Volume: 7M
BUY POINT: $27.75 Volume=8.5M Target=$34.88 Stop=$25.81
POSITION: CY IE - Sept. $25c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/cy.html
Play Date: 04/15/2008
SLB (Schlumberger--$91.13; -0.06; optionable): Oil and gas services
http://biz.yahoo.com/p/s/slb.html
EARNINGS: 4-18-08 before the open
STATUS: SLB has set up once more just before its earnings, showing a tight lateral move this month just below the 200 day SMA (92.53). Low volume this week as it slides laterally above the 10 day EMA and below the 200 day. Some good upside above average volume last week and a low volume test back. Still in good position to make us some money when it shows us the break over that 200 day SMA on some solid volume.
Volume: 7.01M Avg Volume: 11.699M
BUY POINT: $92.78 Volume=15M Target=$105.88 Stop=$89.91
POSITION: SLB HR - Aug. $90c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/slb.html
Play Date: 04/15/2008
SCHN (Schnitzer Steel--$81.80; +1.14; optionable): Steel and iron
http://biz.yahoo.com/p/s/schn.html
EARNINGS: Announced 4-3-08
STATUS: Flying plateau. Earnings are already out of the way and the announcement took SCHN out of its 6 month base on some strong volume. It has since slid laterally in a tight range, waiting for the 10 day EMA (79) to catch up to it. It is there and while it may take another session or two for the next break higher we want to be ready when it does.
Volume: 490.717K Avg Volume: 670.602K
BUY POINT: $82.38 Volume=850K Target=$99.75 Stop=$78.77
POSITION: SQQ HP - Aug. $80c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/schn.html
Continuing plays ready to move:
RIMM
QQQQ
SNDK
AMX
BIDU
CHL
ICO
MON
NUS
PCU
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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us stock market
stock recommendation
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