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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 04/21/2008
BG (Bunge Ltd.--$119.00; +1.86; optionable): Agribusiness, Fertilizer, Food products
http://biz.yahoo.com/p/b/bg.html
EARNINGS: 4-24-08 before the open
STATUS: Test breakout. BG surged higher last Wednesday on strong volume, clearing a range of resistance from 110 to 115. Strong volume on that move and then a nice lateral move on lower trade, holding above that consolidation range, tapping it on the session lows and rebounding. Earnings are just ahead (Thursday morning), but we like the pattern a lot as BG comes back from the March selling that made the bottom of the base, a base that was needed after the strong 2007 move. Looking to move in as it continues higher after this lateral consolidation of the strong move higher.
Volume: 2.623M Avg Volume: 2.746M
BUY POINT: $120.57 Volume=3.5M Target=$134.95 Stop=$115.11
POSITION: BG GD - July $120c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/bg.html
Play Date: 04/21/2008
CLB (Core Labs--$137.41; -1.56; optionable): Oil and gas service company
http://biz.yahoo.com/p/c/clb.html
EARNINGS: 4-23-08 after the close
STATUS: Cup w/handle. Forming the handle to a 6 month base, moving laterally as the 10 day EMA (134.85) rises to meet it. It formed a reverse head and shoulders at the bottom of the base, something you see often in an up and down bottoming process in the market. Strong shot of upside volume Friday; may have been expiration related, but want to be ready to move in as CLB breaks higher because we view those volume spikes in a consolidation as a 'get ready' spike. So, we are ready, just waiting for the break higher.
Volume: 138.007K Avg Volume: 253.176K
BUY POINT: $139.11 Volume=350K Target=$159.95 Stop=$135.77
POSITION: CLB IG - Sept. $135c (62 delta, 233 OI) &/or Stock
http://www.investmenthouse.com/ci/clb.html
Play Date: 04/21/2008
GNK (Genco Shipping & Trading--$66.26; -0.03; optionable): Shipping
http://biz.yahoo.com/p/g/gnk.html
EARNINGS: 5-1-08
STATUS: Test breakout. GNK broke out from a 5.5 month reverse head and shoulders base last Wednesday, breaking past the late February and early March peak on a shot of very strong, above average volume. One of the strong running shipping stocks from mid-2006 through Q3 2007, GNK needed a base to consolidate the run and set the foundation for the next one. Nicely done. Working laterally Monday after a Friday bounce higher. Looking to move in as GNK makes its next break higher.
Volume: 676.746K Avg Volume: 986.113K
BUY POINT: $67.42 Volume=1M Target=$77.75 Stop=$64.77
POSITION: GNK GM - July $65c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/gnk.html
Play Date: 04/21/2008
ICE (Intercontinental Exchange--$159.55; +2.88; optionable): Energy exchange
http://biz.yahoo.com/p/i/ice.html
EARNINGS: 5-2-08
STATUS: Cup w/handle. Nice above average volume surge Thursday as ICE broke higher from a three week handle. Nicely formed 4 month base set up the move, and after the break ICE held its gains on lower trade Friday and Monday. Like what we are seeing with this one, and on the next break higher we will be ready to move in as it continues its breakout move.
Volume: 1.348M Avg Volume: 2.36M
BUY POINT: $160.45 Volume=3M Target=$184.95 Stop=$155.88
POSITION: IHH FL - June $160c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/ice.html
New buy point on current position:
Play Date: 04/21/2008
ME (Mariner Energy--$29.55; -0.18; optionable): Oil and gas drilling, exploration
http://biz.yahoo.com/p/m/me.html
EARNINGS: 5-6-08
STATUS: Test breakout. Nice surge last week and one-half off of near support at the 18 day EMA. After that move it is testing back on lower volume, showing a tight doji ME above the 10 day EMA (28.93). May slide back a bit more to test the 10 day, but a nice test and we are looking at adding positions as it makes the break higher from this pullback to near support.
Volume: 755.201K Avg Volume: 1.015M
BUY POINT: $29.88 Volume=1.2M Target=$33.95 Stop=$29.82
POSITION: ME HF - Aug. $30c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/me.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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trade stock
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