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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 05/05/2008
CYBS (Cybersource--$17.32; -0.45; optionable): Business software
http://biz.yahoo.com/p/c/cybs.html
EARNINGS: Announced 4-29-08
STATUS: Breakout test. Gappped higher last week on earnings, clearing a 16 week base on strong volume. Nice base has set up a move toward a seven year high. Strong money flow is leading higher even as CYBS makes the test. May come back a bit more to the 10 day EMA (16.60), but if not we will be ready to move in as it turns right back up from that strong volume break to the upside.
Volume: 1.176M Avg Volume: 875K
BUY POINT: $17.88 Volume=1.4M Target=$21.55 Stop=$16.63
POSITION: CXQ GW - July $17.50c (54 delta, 123 OI) &/or Stock
http://www.investmenthouse.com/ci/cybs.html
Play Date: 05/05/2008
GNA (Gerdau Ameristeel--$16.65; +1.30; optionable): Steel and iron
http://biz.yahoo.com/p/g/gna.html
EARNINGS: 5-12-08
STATUS: Cup w/handle. Strong volume as GNA breaks higher, clearing the February peak and the matching April highs. Kind of a pattern within a pattern with this 9 week cup with handle acting as the handle to a larger 11 month cup with handle. Nice break higher and looking to move in with some positions on the continued move higher and then some more on the test.
Volume: 2.4M Avg Volume: 1.177M
BUY POINT: $16.78 Volume=1.2M Target=$20.75 Stop=$15.61
POSITION: GNA IC - Sept. $15c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/gna.html
Play Date: 05/05/2008
HES (Hess Corp.--$108.27; +1.93; optionable): Oil and gas exploration, refining
http://biz.yahoo.com/p/h/hes.html
EARNINGS: 4-30-08
STATUS: Test breakout. HES jumped higher in mid-April on strong volume, breaking out from a 16 week ascending base, making the break on strong volume. It then made its test, coming back the past two weeks to tap the 50 day EMA (99.35) on the Thursday low and then rebounding. Up again Monday, but could not advance after the initial gap. Looking for a bit more volume as HES holds and starts up once more.
Volume: 3.657M Avg Volume: 3.779M
BUY POINT: $110.21 Volume=5.5M Target=$126.95 Stop=$105.95
POSITION: IGG HB - Aug. $110c (57 delta) &/or Stock
http://www.investmenthouse.com/ct/hes.html
Play Date: 05/05/2008
HGT (Hugoton Royalty Trust--$29.97; +0.44; optionable): Gas production
http://biz.yahoo.com/p/h/hgt.html
EARNINGS: Announced 4-25-08
STATUS: Test 50 day EMA. Coming back to HGT as it comes off the test of the 50 day EMA (28.28), bouncing on rising, above average volume. Great break higher the third week of April, clearing a 7 week base. This test has set up a new run and volume is up on the Friday and Monday bounces. Want to see more trade as it continues the rebound.
Volume: 237.902K Avg Volume: 231.79K
BUY POINT: $30.21 Volume=345K Target=$34.95 Stop=$29.21
POSITION: HGT HF - Aug $30c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/hgt.html
Play Date: 05/05/2008
MATK (Martek Biosciences--$35.54; -0.16; optionable): Biotechnology
http://biz.yahoo.com/p/m/matk.html
EARNINGS: Early June
STATUS: Breakout test. MATK is working through a big 5 year base, but we are looking at the last 4 months where it formed a nice cup with handle through mid-April and broke out to finish April strong. It has come back to test the past week, holding the 10 day EMA (35.28), showing a doji there Monday on very low trade. Excellent set up to make the break higher. Excellent money flow is leading the way higher and we are looking to pick up MATK off of this test.
Volume: 211.477K Avg Volume: 499.93K
BUY POINT: $36.45 Volume=750K Target=$41.95 Stop=$34.22
POSITION: KQT IG - Sept. $35c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/matk.html
Play Date: 05/05/2008
VIV (Vivo Participaceos--$7.23; -0.14; optionable): Brazilian cellular service
http://biz.yahoo.com/p/v/viv.html
STATUS: Test breakout. VIV broke sharply higher last Thursday, clearing a 9 week ascending base on very strong trade. Rallied to 7.79 on the move Friday, then came back Monday on much lower, below average volume. Looking for a hold of this breakout though it may come back some more before it is ready to make the next break higher. Want to be ready, however, for when it turns back up from this test.
Volume: 4.38M Avg Volume: 4.666M
BUY POINT: $7.31 Volume=5.5M Target=$8.95 Stop=$6.77
POSITION: VIV GU - July $7.50c (53 delta, low OI) &/or Stock
http://www.investmenthouse.com/ct/viv.html
CONTINUING PLAYS:
Upside:
Play Date: 05/03/2008
EQIX (Equinix--$88.65; -1.20; optionable): Telecom
http://biz.yahoo.com/p/e/eqix.html
EARNINGS: Announced 4-23-08
STATUS: Cup w/handle. Fell to the 200 day SMA, tapping it on the low and then rebounding modestly to cut the losses. Continued low volume as it made the test. Nice tight doji as it held that key support. Still very nice and just waiting for the break higher. To recap: Working laterally last week over the 200 day SMA (86.87) after gapping higher in late April on earnings. After that strong volume move it needed to consolidate, and this handle is doing that, preparing for the breakout from its 6 month base. Excellent action with money flow well out ahead of the price, rising even as price moves laterally. That divergence is going to lead to the breakout move.
Volume: 949.019K Avg Volume: 1.297M
BUY POINT: $93.22 Volume=1.9M Target=$109.95 Stop=$88.32
POSITION: FQS IR - Sept. $90c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/eqix.html
Play Date: 05/01/2008
LSTR (Landstar System--$53.94; +0.76; optionable): Trucking
http://biz.yahoo.com/p/l/lstr.html
EARNINGS: July 17
STATUS: Double bottom w/handle. Working laterally below 54 still, tapping the 10 day EMA intraday and rebounding. Very solid action and ready to make the move. To recap: A short 5 week base formed over the 50 day EMA, consolidating the mid-March breakout from a larger 9 month cup with handle base. Strong volume Thursday as LSTR broke higher off the 18 day EMA from the handle. Strong money flow, great sector, nice consolidation to run it higher. Very nice.
Volume: 592.61K Avg Volume: 763.297K
BUY POINT: $54.31 Volume=1.2M Target=$62.45 Stop=$51.45
POSITION: QRY GJ - July $50c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/lstr.html
Play Date: 04/23/2008
MEA (Metalico, Inc.--$13.26; +0.40; no options): Steel and iron
http://biz.yahoo.com/p/m/mea.html
EARNINGS: 4-24-08
STATUS: Breakout test. Gapped higher Monday on strong, above average volume, but gave back as much as it kept on the close. Still a solid test and good upside volume. Ready to move in as MEA continues the move back up. 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: 602.946K Avg Volume: 354.076K
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: 04/29/2008
RMBS (Rambus--$23.26; -0.33; optionable): Semiconductor memory chips
http://biz.yahoo.com/p/r/rmbs.html
Earnings: Announced 4-24-08
STATUS: Still in the test, fading Monday but holding the 10 day EMA on the close. Very low trade the past four sessions. Just being patient to let RMBS finish the test of the March surge higher on the court ruling.
Volume: 1.238M Avg Volume: 2.794M
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/ct/rmbs.html
Play Date: 05/03/2008
WFT (Weatherford International--$82.91; +1.91; optionable): Oil and gas equipment
http://biz.yahoo.com/p/w/wft.html
EARNINGS: Announced 4-21-08
STATUS: Breakout test. Surged higher in April out of a 12 week base, rallying to 85 on that move. Then it tested back to the 18 day EMA (79.74) the past two weeks, holding that near support. Showed good upside volume Thursday and again Monday as it gapped higher. Closed off its high so we decided to wait and see how it holds the move and then resumes it. Looking solid.
Volume: 4.851M Avg Volume: 4.419M
BUY POINT: $81.91 Volume=6M Target=$97.95 Stop=$78.44
POSITION: WFT HP - Aug. $80c (51 delta) &/or Stock
http://www.investmenthouse.com/ct/wft.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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