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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside: Even through the selling there are some great stocks in very good position
Play Date: 05/21/2008
BG (Bunge Ltd.--$118.44; -3.90; optionable): Soy Beans
http://biz.yahoo.com/p/b/bg.html
EARNINGS: Announced 4-24-08
STATUS: Reverse head and shoulders. Has quietly set up a 20 week accumulation base, working laterally the past 5 weeks, forming the right shoulder to its base. Needed a nice accumulation patern after the breakout and run from last summer through January. Making a low volume test the past two sessions, holding at the 18 day EMA Wednesday after a strong Monday break higher. Money flow is strong and ready to play BG as it makes the break higher out of this pattern.
Volume: 1.764M Avg Volume: 2.924M
BUY POINT: $121.31 Volume=4M Target=$139.95 Stop=$117.65
POSITION: BG GD - July $120c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/bg.html
Play Date: 05/21/2008
CCK (Crown Cork & Seal--$28.31; -0.37; optionable): Packaging and containers
http://biz.yahoo.com/p/c/cck.html
EARNINGS: Announced 4-16-08
STATUS: Breakout test. Making the second test of the breakout from its 9 month base. Strong break higher on earnings in mid-April followed by an early May test then second surge. Now a nice low volume test at the 10 day EMA (28.27), and we are looking to play CCK as it continues higher off of this very nice test. Have to love how it is ignoring the market, just going about its business and using the selling to make an orderly test.
Volume: 938.849K Avg Volume: 1.354M
BUY POINT: $28.77 Volume=1.8M Target=$33.21 Stop=$27.68
POSITION: CCK GE - July $25c (81 delta) &/or Stock
http://www.investmenthouse.com/ci/cck.html
Play Date: 05/21/2008
DRYS (Dryships--$102.36; +3.11; optionable): Shipping, bulk
http://biz.yahoo.com/p/d/drys.html
EARNINGS: Announced 5-19-08
STATUS: Test breakout. Made us some money on its last run as DRYS sailed higher on strong volume. It was sold this week on high volume as the shippers gave up some ground, but DRYS held the 10 day EMA (99.86) Tuesday and then showed a tight doji there Wednesday. That looks a lot like the first test of the breakout from its 7 month double bottom with handle base. That means we look for a solid bounce off this level to give us a buy for a new position and the run toward the October high up at 130.
Volume: 9.217M Avg Volume: 4.349M
BUY POINT: $104.74 Volume=7.5M Target=$134.95 Stop=$99.66
POSITION: DQR IA - Sept. $105c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/drys.html
Play Date: 05/21/2008
GLW (Corning--$26.71; -0.51; optionable): Flat panel display components
http://biz.yahoo.com/p/g/glw.html
EARNINGS: Announced 4-29-08
STATUS: Test breakout. Taking another run at GLW as it tests back to near support at the 18 day EMA (26.56) after jumping off the 50 day EMA and the test of that key level on its earnings report. Nice lower volume test (much lower volume), and looking for GLW to resume the move higher when the market selling subsides. Nice test, using the market selling to its advantage.
Volume: 15.085M Avg Volume: 13.409M
BUY POINT: $27.31 Volume=17M Target=$31.45 Stop=$26.39
POSITION: GLW HE - Aug. $25c (74 delta) &/or Stock
http://www.investmenthouse.com/ci/glw.html
Play Date: 05/21/2008
PLLL (Parallel Petroleum--$23.21; +0.81; optionable): Independent oil and gas
http://biz.yahoo.com/p/p/plll.html
EARNINGS: Announced 5-5-08
STATUS: Double bottom w/handle. A big ranging 12 month base has formed and PLLL is on the verge of the breakout. Spent the past 6 weeks forming the handle, bouncing up and down but hen tightening up the past week. Volume surged Wednesday as PLLL probed the breakout then retreated to close just below the breakout point. Strong money flow is leading higher and we are looking for PLLL to make the break higher on solid trade, following the money.
Volume: 1.008M Avg Volume: 563.055K
BUY POINT: $23.65 Volume=750K Target=$27.75 Stop=$22.21
POSITION: QPF GX - July $22.50c (62 delta) or QPF JX - Oct. $22.50c (55 delta, 63 OI) &/or Stock
http://www.investmenthouse.com/ci/plll.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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us stock market
stock recommendation
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