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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
New Plays:
Play Date: 05/14/2008
ATK (Alliant Techsystems--$110.98; -0.93; optionable): Aerospace & defense
http://biz.yahoo.com/p/a/atk.html
EARNINGS: Announced 5-8-08
STATUS: Double bottom w/handle. Nice break higher to start the month, moving higher on stronger, above average volume. It has come back to test that move the past two weeks, holding at the 18 day EMA (110) the past week. Volume remains solid as it makes the test and holds that support. Strong money flow is leading higher, and we are looking for ATK to make a break higher and rally toward the old high at 121 and onto a new high. Very nice pattern from a very strong stock.
Volume: 353.573K Avg Volume: 244.725K
BUY POINT: $113.31 Volume=450K Target=$126.95 Stop=$110.31
POSITION: ATK HB - Aug. $110c (52 delta, 74 OI) &/or Stock
http://www.investmenthouse.com/ci/atk.html
Play Date: 05/14/2008
EDU (New Oriental Education & Tech--$78.02; +5.21; optionable): Chinese management education
http://biz.yahoo.com/p/e/edu.html
EARNINGS: Announced 4-16-08
STATUS: Test 50 day EMA. Breaking higher hard off the 50 day EMA test this week, surging on solid volume Wednesday. This is part of a 5.5 month base, just making the breakout Wednesday as it cleared the early March peak hit prior to the 50 day EMA test. Strong move and looking to move into some positions as it continues the break higher and then pick up some more to complete the buy when it makes a successful test, i.e. comes back after this move to test near support, holds it, and starts to bounce again.
Volume: 953.956K Avg Volume: 621.351K
BUY POINT: $78.48 Volume=650K Target=$90.31 Stop=$73.88
POSITION: EDU GO - July $75c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/edu.html
Play Date: 05/14/2008
MCHP (Microchip--$36.76; -0.23; optionable): Semiconductors
http://biz.yahoo.com/p/m/mchp.html
EARNINGS: Announced 4-28-08
STATUS: Cup w/handle. MCHP is working its way through a long 13 month base. Strong break higher to end April on its earnings but a quick test back this month, holding near support at the 18 day EMA (36.43) this past week on low, below average volume. Volume started back up Wednesday, and after this test we are looking for MCHP to make the break higher and give us the buy. Very nice and just need to be patient and let MCHP show us the start of the move and then we move in.
Volume: 4.034M Avg Volume: 3.15M
BUY POINT: $38.31 Volume=4.7M Target=$44.38 Stop=$36.32
POSITION: GMT GG - July $35c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/mchp.html
Play Date: 05/14/2008
OSTK (Overstock.com--$21.01; -0.19; optionable): Fire sale merchandise
http://biz.yahoo.com/p/o/ostk.html
EARNINGS: Announced 4-18-08
STATUS: Test 200 day SMA. OSTK gapped higher on its earnings then moved through the 200 day SMA to end April. It tested that move and then broke sharply higher Monday on strong volume. This action has formed a nice handle or lateral shakeout to OSTK's large 6.5 month base. After the solid break higher Monday on above average volume it has tested the past two sessions on low trade. Waiting for the test of this key support level to hold, proving it is indeed acting as support. On the bounce up on solid trade is when we move in. Plenty of room overhead for Overstock to climb.
Volume: 203.078K Avg Volume: 320.184K
BUY POINT: $22.06 Volume=365K Target=$27.95 Stop=$20.52
POSITION: QKT ID - Sept. $20c (66 delta) &/or Stock
http://www.investmenthouse.com/cd/ostk.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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