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stock recommendation, stock option
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 04/30/2008
ATK (Alliant Techsystems--$109.98; +0.41; optionable): Aerospace/defense
http://biz.yahoo.com/p/a/atk.html
EARNINGS: 5-8-08
STATUS: Double bottom w/handle. Setting up nicely for the breakout move, forming the handle to a 17 week base that is consolidating the big run in 2007. Needed to set up a new foundation for the new break higher. This base is doing it and like the volume spike Wednesday as it looks for the break higher from a short lateral move forming the handle. Nice.
Volume: 313.645K Avg Volume: 274.764K
BUY POINT: $111.08 Volume=412K Target=$124.95 Stop=$108.45
POSITION: ATK HB - Aug. $110c (52 delta, 74 OI) &/or Stock
http://www.investmenthouse.com/ct/atk.html
Play Date: 04/30/2008
BBD (Banco Bradesco--$22.58; +1.58; optionable): Foreign regional banks
http://biz.yahoo.com/p/b/bbd.html
EARNINGS: Announced 4-29-08
STATUS: Double bottom w/handle. This is more of the 'flying W' brand of this pattern with the second bottom higher than the first, but it is still quite effective. We looked at it last week and it faded ahead of earnings; didn't want to get involved just before the report given its action. Earnings were solid and Wednesday BBD broke higher on strong volume, moving out of its 19 week base. Ready to move to a new high and ready to move in with it.
Volume: 17.053M Avg Volume: 9.721M
BUY POINT: $22.74 Volume=10M Target=$27.31 Stop=$21.15
POSITION: BBD IX - Sept. $22.50c (56 delta, 81 OI) &/or Stock
http://www.investmenthouse.com/ci/bbd.html
Play Date: 04/30/2008
BRCM (Broadcom--$25.96; -0.56; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/b/brcm.html
EARNINGS: Announced 4-22-08
STATUS: Test breakout. BRCM made us some nice coin on its run off of the breakout from its 6 month downtrend. It rallied up to the 200 day SMA (28.18) then needed to test, coming back toward the 10 day EMA (25.42) this week. Looking for BRCM to complete the test of the 10 day and then rebound from there and give us a new buy point as it continues its trend reversal move.
Volume: 21.211M Avg Volume: 15.818M
BUY POINT: $26.08 Volume=23M Target=$31.95 Stop=$25.24
POSITION: RCQ HE - Aug. $25c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/brcm.html
Play Date: 04/30/2008
CSIQ (Canadian Solar--$27.37; +2.29; optionable): Solar circuits
http://biz.yahoo.com/p/c/csiq.html
EARNINGS: 5-13-08
STATUS: Double bottom w/handle. Looking again at CSIQ as it made one more test of the 50 day EMA in a shakeout in its handle and started back up. Strong volume Wednesday as FSLR reported strong earnings; that moved CSIQ sharply upside, taking it toward the breakout from its 4 month nicely formed base. Strong pattern and strong action, looking for a continued move to step in.
Volume: 2.873M Avg Volume: 1.801M
BUY POINT: $28.08 Volume=2M Target=$33.95 Stop=$26.11
POSITION: GQA GE - July $25c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/csiq.html
Play Date: 04/30/2008
JRJC (China Finance Online--$18.45; -0.43; optionable): Online financial services (company information)
http://biz.yahoo.com/p/j/jrjc.html
EARNINGS: Late May
STATUS: Double bottom. Nice run higher on volume last week that formed the second bottom in its rather long 7 month base. This base formed after a screaming run higher last September that saw JRJC more than quadruple. Too fast, and it needed to recover after burning itself out. It is in the process of starting back up after the long base, rallying to the 200 day SMA (19.73) and testing back on low trade. Looking for volume to surge once again as JRJC breaks through the 200 day SMA resistance.
Volume: 831.855K Avg Volume: 1.213M
BUY POINT: $19.86 Volume=1.8M Target=$24.95 Stop=$18.47
POSITION: JQJ ID - Sept. $20c (50 delta) &/or Stock
http://www.investmenthouse.com/ci/jrjc.html
Play Date: 04/30/2008
RIO (Companhia Vale Do Rio Doce--$39.08; +2.24; optionable): Steel and iron
http://biz.yahoo.com/p/r/rio.html
EARNINGS: Announced 4-25-08
STATUS: Ascending base. RIO broke higher early last week, clearing a 5.5 month base. It tested back to the 18 day EMA this week and then surged higher Wednesday on strong, above average volume, resuming the breakout move. Looks super on this bounce off the test.
Volume: 30.202M Avg Volume: 24.092M
BUY POINT: $39.68 Volume=30M Target=$47.65 Stop=$36.89
POSITION: RIO IJ - Sept. $37.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/rio.html
CONTINUING PLAYS:
Upside:
Play Date: 04/24/2008
CAT (Caterpillar--$81.88; +0.37; optionable): Heavy machinery
http://biz.yahoo.com/p/c/cat.html
EARNINGS: Announced 4-18
STATUS: Breakout test. Hanging in with this test, keeping its lives in tact as we wait for the breakout move. Excellent. To recap: Gapped higher on earnings and has come back this week to fill the gap, fading back on low volume, tapping the 10 day EMA on the Thursday low and then rebounding to close flat. Nice breakout from a 7 month reverse head and shoulders base, and a great test. Showed a doji on the session, and that indicates the pullback is over. Ready to move in as CAT rebounds once more.
Volume: 6.033M Avg Volume: 6.961M
BUY POINT: $82.57 Volume=7.5M Target=$94.95 Stop=$79.77
POSITION: CAT HP - Aug. $80c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/cat.html
Play Date: 04/29/2008
GILD (Gilead Sciences--$51.76; +0.05; optionable): Biotechnology
http://biz.yahoo.com/p/g/gild.html
EARNINGS: 4-16-08
STATUS: Cup. Still working on the test, holding the 10 day EMA on more below average volume. May take a few sessions but just waiting for the break higher. To recap: GILD has formed the current 4 week cup as it tests the late March breakout from a neat little 11 week double bottom with handle base. It rallied close to 54 on the breakout move and this test is a nice set up to the next leg higher in the breakout run, and a new all-time high. Very solid.
Volume: 5.939M Avg Volume: 8.921M
BUY POINT: $52.84 Volume=13M Target=$60.88 Stop=$50.77
POSITION: GDQ HX - Aug. $52.50c (53 delta) &/or Stock
http://www.investmenthouse.com/ct/gild.html
Play Date: 04/29/2008
MSCC (Microsemi--$24.50; -0.25; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/m/mscc.html
EARNINGS: 4-24-08
STATUS: Cup w/handle. Rallied nicely Wednesday but it could not hold the move as volume didn't back it up Slid back to flat, leaving it still just below the early April peak but still in good position to move higher. To recap: Moving toward the breakout from the handle to its 7 month base. MSCC is a bit different from many chips; a breakout from this pattern and it runs toward the October high near 30, and that is the all-time high. MSCC is a chip leader that has set up to make another run, and we want to be ready to move in as it starts. Volume was up last week on a solid earnings report, but it was not time to make the breakout. Has continued setting up well and is ready to make the breakout move for us.
Volume: 793.017K Avg Volume: 1.191M
BUY POINT: $25.11 Volume=1.8M Target=$29.95 Stop=$23.68
POSITION: QMS IE - Sept. $25c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/mscc.html
Play Date: 04/23/2008
MEA (Metalico, Inc.--$12.96; +0.05; no options): Steel and iron
http://biz.yahoo.com/p/m/mea.html
EARNINGS: 4-24-08
STATUS: Breakout test. Tapping the 18 day EMA again on the low (12.61) and rebounding to close flat. Nice low volume test and still looking for the break higher to give us a nice entry point. To recap: Surged higher last week, breaking out of a 6 month double bottom base on a strong volume jump. After that blast higher it has worked laterally the past four sessions on lower volume. Wednesday volume jumped back above average, indicating that MEA is ready to make the next break higher and continue the breakout move that has MEA, a new issue in mid-2005, at a new high.
Volume: 326.781K Avg Volume: 342.638K
BUY POINT: $13.65 Volume=455K Target=$16.95 Stop=$12.69
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/mea.html
Play Date: 04/30/2008
RIO (Companhia Vale Do Rio Doce--$39.08; +2.24; optionable): Steel and iron
http://biz.yahoo.com/p/r/rio.html
EARNINGS: Announced 4-25-08
STATUS: Ascending base. RIO broke higher early last week, clearing a 5.5 month base. It tested back to the 18 day EMA this week and then surged higher Wednesday on strong, above average volume, resuming the breakout move. Looks super on this bounce off the test.
Volume: 30.202M Avg Volume: 24.092M
BUY POINT: $39.68 Volume=30M Target=$47.65 Stop=$36.89
POSITION: RIO IJ - Sept. $37.50c (64 delta) &/or Stock
http://www.investmenthouse.com/ct/rio.html
Play Date: 04/29/2008
RMBS (Rambus--$22.96; -0.28; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/r/rmbs.html
EARNINGS: 4-24-08
STATUS: Test breakout. Paused on low volume Wednesday, resting after a high volume jump Tuesday. In great position to make the next move, just has to show it. To recap: 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: 1.677M Avg Volume: 2.926M
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 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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stock recommendation
stock option
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