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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
New Plays:
Play Date: 04/22/2008
CHT (Chunghwa Telecom--$25.62; -0.01; optionable): Chinese telecom
http://biz.yahoo.com/p/c/cht.html
EARNINGS: Announced 3-27-08
STATUS: Reverse head and shoulders. Chinese stocks are coming back to life and CHT is setting up for its next run with this short 5 week pattern that tested the 50 day EMA (24.25) on the low and bounced off of that support on strong volume. It broke out in February from a year long base. Surged again on earnings in March, but the market was not ready and it came back to form this pattern. It is testing at the 10 day EMA on the Monday close on low volume. Looking for that bounce up off this level on rising trade to give us an entry point.
Volume: 659.725K Avg Volume: 2.554M
BUY POINT: $26.31 Volume=3.5M Target=$30.32 Stop=$25.24
POSITION: CHT IE - Sept. $25c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/cht.html
Play Date: 04/22/2008
CTRP (Ctrip.com International--$55.00; +1.04; optionable): Chinese travel services
http://biz.yahoo.com/p/c/ctrp.html
EARNINGS: Late May
STATUS: Ascending base. Volume jumped above average Tuesday as CTRP jumped off the 50 day EMA (53.79), making a higher low in its 6 month base. A ragged pattern but steadily building toward a breakout. Money flow continues to move higher and we are looking for CTRP to join the other Chinese stocks that are moving well.
Volume: 1.086M Avg Volume: 962.362K
BUY POINT: $55.78 Volume=1.4M Target=$65.95 Stop=$53.05
POSITION: QCT IK - Sept. $55c (54 delta, 270 OI) &/or Stock
http://www.investmenthouse.com/ci/ctrp.html
Play Date: 04/22/2008
GD (General Dynamics--$88.01; 0.00; optionable): Aerospace/defense
http://biz.yahoo.com/p/g/gd.html
EARNINGS: 4-23-08
STATUS: Cup. Gapped higher Friday on strong, above average volume, and has tested the past two days on lower volume ahead of its earnings report Wednesday. We are watching to see if GD can give us a solid move higher on volume off earnings and give us a run to 100 play out of this nice base.
Volume: 1.774M Avg Volume: 2.019M
BUY POINT: $89.21 Volume=2.5M Target=$99.95 Stop=$86.22
POSITION: GD HQ - Aug. $85c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/gd.html
New buy point on current position:
Play Date: 04/22/2008
CSH (Cash America Intl.--$41.78; -0.21; optionable): Pawn shops
http://biz.yahoo.com/p/c/csh.html
EARNINGS: 4-24-08 before the open
STATUS: Breakout test. CSH is setting up nicely ahead of earnings, surging last Thursday and then testing back this week on lower volume, tapping the 10 day EMA on the Tuesday low (41.21) and rebounding to close flat. Earnings are just a session away, but we really like what CSH is showing. If we can get it tomorrow before it bounces we will add some positions in anticipation of the earnings results.
Volume: 380.611K Avg Volume: 524.935K
BUY POINT: $42.31 Volume=600K Target=$48.95 Stop=$40.89
POSITION: CSH IH - Sept. $40c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/csh.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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