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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS: A few more solid plays to add to the growing list.
New Plays:
Play Date: 04/17/2008
EGLE (Eagle Bulk Shipping--$28.29; +0.82; optionable): Shipping
http://biz.yahoo.com/p/e/egle.html
EARNINGS: Late May
STATUS: Reverse head and shoulders. Solid volume the past two sessions as EGLE made the break higher from its 22 week pattern that formed at the bottom of a larger 6 month base. Transports, after a hiccup, are coming back and EGLE has plenty of room to run before it comes close tot hat October high that marks the top of this base. It can give us our return even before then.
Volume: 661.4K Avg Volume: 668.835K
BUY POINT: $28.42 Volume=750K Target=$33.95 Stop=$26.68
POSITION: QEK IE - Sept. $25c (71 delta) &/or Stock
http://www.investmenthouse.com/ci/egle.html
Play Date: 04/17/2008
FLR (Fluor Corp.--$156.40; -2.60; optionable): Heavy construction
http://biz.yahoo.com/p/f/flr.html
EARNINGS: 5-12-08
STATUS: Reverse head and shoulders. Broke higher Wednesday, paused Thursday, still ready to continue higher out of its 18 week base. A big leader in 2007, FLR needed a base to consolidate and set the foundation for the next run higher. Looking for a bit more volume as it continues the move after this Thursday pullback. Very nice.
Volume: 1.415M Avg Volume: 2.129M
BUY POINT: $158.11 Volume=2.2M Target=$179.95 Stop=$153.88
POSITION: FLR GL - July $160c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/flr.html
Play Date: 04/17/2008
MOD (Modine Manufacturing--$16.16; +0.28; no options): Auto parts
http://biz.yahoo.com/p/m/mod.html
EARNINGS: Early May
STATUS: Trend reversal. MOD broke a 6 month downtrend in March and has worked higher up through the 50 day EMA, but volume was not strong as it made that move. It tested back to that level this month, holding it to end last week and to begin this week. Volume started to swell Wednesday, and it surged higher, clearing the April peak on Wednesday. Added a bit on Thursday on even stronger volume. Ready to move in as MOD continues higher after a successful test of its reversal of that downtrend.
Volume: 1.379M Avg Volume: 279.994K
BUY POINT: $16.32 Volume=650K Target=$19.95 Stop=$15.18
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/mod.html
Play Date: 04/17/2008
PFCB (PF Changs--$30.40; +0.65; optionable): Pei-Wei and other restaurants
http://biz.yahoo.com/p/p/pfcb.html
EARNINGS: 4-23-08
STATUS: Trend reversal. Another stock that was in a long downtrend, reversed and broke it on volume, and is ready to move higher. Long 10 month downtrend through January. Strong reversal to end the trend, but then wandered laterally the past 13 weeks, forming something of a reverse head and shoulders. After sliding laterally over the 50 day EMA (28.19) this month, volume started higher Wednesday and Thursday. PFCB is ready to make the next break higher and follow money flow that is surging higher ahead of price. Plenty of room to run and give us a good gain without having to break a lot of new ground.
Volume: 893.785K Avg Volume: 957.771K
BUY POINT: $30.65 Volume=1.4M Target=$36.95 Stop=$28.77
POSITION: HUO GF - July $30c (60 delta) &/or Stock
http://www.investmenthouse.com/cd/pfcb.html
New buy point on current position:
Play Date: 04/17/2008
MTL (Mechel Steel Group--$149.60; -0.37; optionable): Steel and iron
http://biz.yahoo.com/p/m/mtl.html
STATUS: Breakout test. Strong volume just over a week back as MTL made the break from a short but sweet 7 week cup with handle base. Then it tested in the market pullback, but held near support at the 10 day EMA (141.75). Bounced on strong volume Wednesday, paused Thursday on lower volume. Perfect set up for the next move higher and ready to move in when it does.
Volume: 1.5M Avg Volume: 1.217M
BUY POINT: $150.78 Volume=1.4M Target=$180.95 Stop=$144.32
POSITION: MTL GY - July $150c (61 delta) &/or Stock
http://www.investmenthouse.com/ci/mtl.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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