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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
New Plays:
Play Date: 05/10/2008
GOOG (Google--$573.20; -9.81; optionable)
http://biz.yahoo.com/p/g/goog.html
EARNINGS: Announced 4-17-08
STATUS: Cup w/handle. GOOG gapped higher on is mid-April earnings and rallied through the 200 day SMA (568) to start the month before fading back to test this past week. Volume faded on the test and GOOG held just over the 200 day Friday, settling at the 10 day EMA. Very nice test of the move and of support at the key 200 day SMA. It gapped lower in February and the gap up in April is an island reversal, a bullish signal that can run a long way before ever having to come back and fill the gap. Indeed we are looking for a run up toward the old highs if GOOG can show us some volume as it breaks higher off of this test.
Volume: 4.485M Avg Volume: 7.019M
BUY POINT: $583.31 Volume=10M Target=$695.00 Stop=$569.65
POSITION: GOO IR - Sept. $590c (45 delta)
http://www.investmenthouse.com/ci/goog.html
Play Date: 05/10/2008
SVNT (Savient Pharma--$24.60; +0.70; optionable): Biotech
http://biz.yahoo.com/p/s/svnt.html
EARNINGS: Announced 5-7-08
STATUS: Reverse head and shoulders. Volume is swelling on the upside sessions this month as SVNT puts the finishing touches on its 18 week base that is setting it up for a breakout to a new high and a run from there. Solid earnings and money flow is leading higher. Just looking for SVTN to extend this move and give us the buy on some good volume. Very nice.
Volume: 1.411M Avg Volume: 1.259M
BUY POINT: $25.02 Volume=2M Target=$30.65 Stop=$23.27
POSITION: UVP IE - Sept. $25c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/svnt.html
Play Date: 05/10/2008
VRSN (Verisign--$37.90; +1.14; optionable): Internet registration, etc.
http://biz.yahoo.com/p/v/vrsn.html
EARNINGS: 5-8-08
STATUS: Double bottom w/handle. Another stock we were monitoring but did not want to get in front of it with earnings. That would have been no issue; reported solid results and surged higher Friday on strong volume. Closed just below the 'hump' in the pattern at 38, but excellent action and ready for the breakout. When it makes the move we will move in.
Volume: 10.859M Avg Volume: 3.555M
BUY POINT: $38.12 Volume=4.5M Target=$47.85 Stop=$36.38
POSITION: QVR IU - Sept. $37.50c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/vrsn.html
New buy point on current positions: Just about ready to add to or to start new positions.
Play Date: 05/10/2008
CTRP (Ctrip.com International--$64.92; -1.13; optionable): Chinese online travel services
http://biz.yahoo.com/p/c/ctrp.html
EARNINGS: 5-14-08 after the close
STATUS: Test breakout. Big surge to start the month, breaking out from its 5 month base formed by making higher lows off the 200 day SMA. Made us some great money and then gapped lower to the 10 day EMA Wednesday, hugging there until Friday. Looking for CTRP to resume its move and when it does that is when we move in.
Volume: 584.882K Avg Volume: 893.333K
BUY POINT: $66.11 Volume=1.2M Target=$75.95 Stop=$63.89
POSITION: QCT IM - Sept. $65c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/ctrp.html
Play Date: 05/10/2008
GNK (Genco Shipping & Trading--$75.26; -0.62; optionable): Shipping
http://biz.yahoo.com/p/g/gnk.html
EARNINGS: Announced 4-30-08
STATUS: Breakout test. After blasting higher to start the month by clearing a 6 month reverse head and shoulders base, GNK has returned to test the move, tapping at the 10 day EMA on the Thursday and Friday lows before bouncing back. Nice action indicating buyers moving in at support. Looking for a break higher to move into some more or new positions.
Volume: 655.867K Avg Volume: 922.083K
BUY POINT: $76.08 Volume=1M Target=$90.95 Stop=$72.94
POSITION: GNK GO - July $75c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/gnk.html
Play Date: 05/10/2008
KSU (Kansas City Southern--$45.90; -1.14; optionable): Railroads
http://biz.yahoo.com/p/k/ksu.html
EARNINGS: 7-31-08
STATUS: Test 10 day EMA. KSU is making the second test of the mid-April breakout from a big 11 month base. A strong stock with a strong breakout move such as KSU will make 4 to 5 bounces up the 10 or 18 day EMA before needing to test lower, typically toward the 50 day EMA. It spent last week fading to the 10 day EMA (45.61), holding that level on low volume. This is its second test so there is still plenty of upside in front of it. When it bounces on rising trade we move in.
Volume: 876.898K Avg Volume: 1.127M
BUY POINT: $46.85 Volume=1.2M Target=$54.88 Stop=$44.89
POSITION: KSU II - Sept. $45c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/ksu.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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trade stock
stock recommendation
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