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Begin part 3 of 3

THE PLAYS:

Play Date: 04/29/2008
AXP (American Express--$48.01; +0.12; optionable): Credit services
http://biz.yahoo.com/p/a/axp.html
EARNINGS: Announced 4-24-08
STATUS: Reverse head and shoulders. Gapped higher on earnings last Friday, breaking over the 90 day SMA (45.88) and bumping the breakout from its 4 month base formed at the bottom of a selloff from the October peak. Great volume as it jumped higher, and after the modest test this week on lighter volume we are looking to move in as AXP continues the break higher.
Volume: 7.716M Avg Volume: 10.302M
BUY POINT: $48.65 Volume=10M Target=$52.88 Stop=$47.22
POSITION: AXP GW - July $47.50c (62 delta) &/or Stock
http://www.investmenthouse.com/cd/axp.html

Play Date: 04/29/2008
LLL (L-3 Communications--$112.60; +0.12; optionable): Aerospace & defense
http://biz.yahoo.com/p/l/lll.html
EARNINGS: 4-24-08
STATUS: Cup w/handle. Volume has swelled the past week as LLL rallied to the December high in the base and then fading to form the handle. Nice 6 month pattern has consolidated the 2007 run higher, setting LLL up for a breakout to a new all-time high. Nice test of the 18 day EMA (111.87) is the shakeout that is setting up the breakout. Earnings did not break it out, but LLL held near support and kept working on its pattern. Will let it finish this handle and show us the breakout move.
Volume: 597.348K Avg Volume: 872.964K
BUY POINT: $114.68 Volume=1.4M Target=$129.95 Stop=$111.88
POSITION: LLL GC - July $115c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/lll.html

Play Date: 04/28/2008
MPWR (Monolithic Power Systems--$21.22; +0.44; optionable): Semiconductors
http://biz.yahoo.com/p/m/mpwr.html
EARNINGS: 4-29-08 after the close
STATUS: Cup w/handle. Surging volume Tuesday ahead of its earnings as MPWR bumps up against the breakout from the three week handle to its 5 month base. After hours it reported solid earnings and was trading just below 22. Looking for this news to help break it out and send MPWR back toward the old high at 26 and then on to a new all-time high.
Volume: 1.342M Avg Volume: 432.586K
BUY POINT: $21.91 Volume=685K Target=$25.95 Stop=$20.55
POSITION: QPU FD - June $20c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/mpwr.html

Play Date: 04/29/2008
RMBS (Rambus--$23.24; +0.96; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/r/rmbs.html
EARNINGS: 4-24-08
STATUS: Test breakout. RMBS has spent the past month working laterally along the October and December highs, the tops to its 6 month base. It shot higher to end March on a favorable court ruling; RMBS is in litigation with just about everyone over chip licenses. It continues to win the cases, but it is a long process enforcing your patents and licenses. In any event, it jumped on that news and then tested. Volume spiked on earnings last week and it spiked again Tuesday as it started off support at 22. In excellent position to move higher and the volume spikes are 'get ready' spikes telling us to get ready for the next leg higher.
Volume: 4.831M Avg Volume: 2.919M
BUY POINT: $24.39 Volume=3.5M Target=$29.45 Stop=$22.77
POSITION: BNQ HX - Aug. $22.50c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/rmbs.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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