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stock recommendation, stock market report
Begin part 3 of 3
THE PLAYS:
New Plays:
Play Date: 05/07/2008
BAM (Brookfield Asset Management--$34.15; -0.08; optionable): Asset management services
http://biz.yahoo.com/p/b/bam.html
EARNINGS: Announced 4-30-08
STATUS: Test 200 day SMA. BAM surged in April ahead of its earnings report, breaking form a 2 month double bottom with handle base that turned out to be the bottom of its selloff that started in mid-2007. Strong surge up through the 200 day SMA (33.51) to start May, then sidestepping the past week in a narrow range just over that key level. Volume surged higher Wednesday as BAM gapped modestly higher then closed flat. Very good relative strength for a financial in the Wednesday trade, and looking for this strength to provide another break higher and run toward 40.
Volume: 2.13M Avg Volume: 1.348M
BUY POINT: $34.75 Volume=2M Target=$39.95 Stop=$33.39
POSITION: BAM IG - Sept. $35c (54 delta, 139 OI) &/or Stock
http://www.investmenthouse.com/ci/bam.html
Play Date: 05/07/2008
BMRN (Biomarin Pharmaceuticals--$37.54; -0.12; optionable): Biotech
http://biz.yahoo.com/p/b/bmrn.html
EARNINGS: Announced 4-29-08
STATUS: Double bottom w/handle. Strong surge higher the last day of April completed the last bounce of the 12 week base. Rallied to 38 and then slid laterally the past week on low volume in a narrow range, holding over the 90 day SMA (36.44) as it forms the handle to its base. Money flow is leading higher even as BMRN works laterally. Perched for the breakout to a new all-time high and this base has set the move up well.
Volume: 1.263M Avg Volume: 1.914M
BUY POINT: $38.21 Volume=2.9M Target=$45.95 Stop=$36.21
POSITION: NUR GG - July $35c (67 delta) &/or Stock
http://www.investmenthouse.com/ci/bmrn.html
Play Date: 05/07/2008
MAN (Manpower--$67.21; +0.05; optionable): Staffing services
http://biz.yahoo.com/p/m/man.html
EARNINGS: 4-18-08
STATUS: Test breakout. MAN is in an 11 month cup base that bottomed in January, worked laterally for 2.5 months and then gapped higher in mid-April on its strong earnings. Rallied on up to 70 on that move. It is now testing, fading to the 10 day EMA (66.68) Tuesday and Wednesday, holding above that level in a narrow range as volume swelled toward average. Nice set up with money flow moving higher ahead of price. Looking for more volume as it comes off of this test of near support.
Volume: 871.109K Avg Volume: 897.173K
BUY POINT: $68.45 Volume=1.2M Target=$78.95 Stop=$66.48
POSITION: MAN IM - Sept. $65c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/man.html
Play Date: 05/07/2008
NVDA (Nvidia--$22.01; -0.52; optionable): Semiconductor graphics and game chips
http://biz.yahoo.com/p/n/nvda.html
EARNINGS: 5-8-08
STATUS: Double bottom. Earnings are Thursday, but we are looking at NVDA as a recovery play given the pattern it has set up. If it can put together a good earnings report and moves through the 90 day SMA (22.55) we will look for an opportunity to get into the play as NVDA moves higher. The stock double bottomed spanning March and April after a pullback from 38 at the October high. A nice high volume break higher to start the month and then working laterally the past three sessions in a narrow range, refusing to give up the gains and preparing for the next break higher. Now we see if it can get the bump higher.
Volume: 17.9M Avg Volume: 19.25M
BUY POINT: $22.68 Volume=21M Target=$27.85 Stop=$21.45
POSITION: UVA IX - Sept. $22.50c (58 delta) &/or Stock
http://www.investmenthouse.com/cd/nvda.html
Play Date: 05/07/2008
RTH (Retail ETF--$95.62; -0.93; optionable)
http://biz.yahoo.com/p/r/rth.html
STATUS: Test 200 day SMA. Taking another look at RTH as it tests further, holding the 200 day SMA (95.42) on the Tuesday and Wednesday lows. Set up a double bottom spanning January and March, breaking out in late October. It is testing that move and is set to make the next break higher if it can get a market catalyst.
Volume: 5.657M Avg Volume: 6.961M
BUY POINT: $97.75 Volume=10M Target=$107.00 Stop=$95.22
POSITION: RTH GS - July $95c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/rth.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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stock recommendation
stock market report
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