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trend trading stock, trade stock
Begin part 3 of 3
THE PLAYS: Some really nice set-ups from many solid stocks.
Upside:
Play Date: 05/06/2008
FLIR (Flir Systems--$34.44; +0.38; optionable): Scientific and technical instruments
http://biz.yahoo.com/p/f/flir.html
EARNINGS: Announced 4-24-08
STATUS: Test breakout. Nice surge on the earnings news, bolting higher out of a 4 month reverse head and shoulders base on strong trade. It needed a break after that move and has worked laterally the past two weeks, fading back to the 10 day EMA (33.76) on the Tuesday low and rebounding for a gain. A nice test of the breakout move, and this consolidation has set it up for the next move higher to take on an all-new high. Very nice, very strong.
Volume: 865.854K Avg Volume: 1.322M
BUY POINT: $35.36 Volume=1.8M Target=$42.45 Stop=$33.57
POSITION: FFQ GG - July $35c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/flir.html
Play Date: 05/06/2008
GS (Goldman Sachs--$197.61; +0.49; optionable): Investment banking
http://biz.yahoo.com/p/g/gs.html
EARNINGS: Mid-June
STATUS: Trend reversal. GS is on its way back up after gapping higher over its down trendline spanning the October to early April peaks. It broke through key resistance at the 200 day SMA (196) to start the month and has come back to test that move. Tuesday it tapped the 10 day EMA on the low and reversed to hold the breakout over the 200 day. Nice break through resistance and a nice test. Now we are looking for a continued break higher, preferably with some more volume. It lacked any trade the last time we looked at it, but if we get the price move and just a bit better volume it will be worth moving in.
Volume: 7.509M Avg Volume: 13.046M
BUY POINT: $200.11 Volume=15M Target=$229.00 Stop=$195.65
POSITION: GPY GT - July $200c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/gs.html
Play Date: 05/06/2008
LUK (Leucadia National--$53.89; +2.04; optionable): Lumber, etc.
http://biz.yahoo.com/p/l/luk.html
EARNINGS: Announced 4-21-08
STATUS: Breakout test. Working in a four week trading range after surging to start April, breaking from a 5.5 month base. Volume surged Tuesday as LUK moved off the 18 day EMA near the lows in the trading rang and bumped at the breakout point. Looking to use the breakout from the range on continued solid volume as our entry point on this strong like oak play.
Volume: 1.968M Avg Volume: 977.222K
BUY POINT: $54.38 Volume=1M Target=$62.55 Stop=$51.88
POSITION: LUK IK - Sept. $55c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/luk.html
Play Date: 05/06/2008
NSC (Norfolk Southern--$62.27; +2.08; optionable): Railroads
http://biz.yahoo.com/p/n/nsc.html
EARNINGS: Announced 4-22-08
STATUS: Test breakout. Gapped higher on earnings in April, clearing a 9 month base. Rallied to 62 on that breakout and then tested, fading to the 18 day EMA on the earnings results; actually gapping lower. But it managed to hold that level and work laterally, setting up the next move. Tuesday volume surged back above average as NSC surged higher once more. The rails are on rails, and looking to step into this one as it continues this breakout move.
Volume: 4.855M Avg Volume: 3.612M
BUY POINT: $62.54 Volume=3.6M Target=$71.95 Stop=$59.38
POSITION: NSC IL - Sept. $60c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/nsc.html
Play Date: 05/06/2008
TTEK (Tetra Tech--$23.16; -0.43; optionable): Consulting, engineering, construction services
http://biz.yahoo.com/p/t/ttek.html
EARNINGS: Announced 4-30-08
STATUS: Breakout test. Gapped out of a 6 month cup base to start the month, rising some seriously good earnings higher. It has come back to test that move on lower and lower volume, tapping at the 10 day EMA (22.65) on the Tuesday low before rebounding. May snug up a bit more toward the 10 day EMA, but a nice pullback, and when it bounces to continue the breakout we are going to step in and ride its services higher.
Volume: 998.567K Avg Volume: 572.221K
BUY POINT: $23.65 Volume=900K Target=$28.45 Stop=$22.55
POSITION: TQI IX - Sept. $22.50c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/ttek.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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trend trading stock
trade stock
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