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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
New plays:
Upside:
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
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
Play Date: 05/21/2008
TMO (Thermo Fisher Scientific--$59.04; +0.69; optionable): Analytical instruments, equipment, reagents, software, etc. for R&D, manufacturing, diagnostics, etc.
http://biz.yahoo.com/p/t/tmo.html
EARNINGS: Announced 4-24-08
STATUS: Ascending triangle. Volume swelling above average the past two sessions as TMO knocks at the door of a 5 month ascending base, making higher and higher lows below a constant top at 59ish. Tried the breakout territory intraday on Wednesday then came back as the market sold off. That is about all it did; it is ignoring the market as it sets up for the breakout. Strong money flow is leading the way.
Volume: 3.17M Avg Volume: 2.734M
BUY POINT: $59.75 Volume=4M Target=$67.95 Stop=$57.45
POSITION: TMO IL - Sept. $60c (49 delta) &/or Stock
http://www.investmenthouse.com/ct/tmo.html
CONTINUING PLAYS:
Upside:
Play Date: 05/19/2008
CMZ (Compton Petroleum--$12.30; -0.14; no options): Oil and gas drilling, exploration
http://biz.yahoo.com/p/c/cmz.html
EARNINGS: 5-12-08
STATUS: Ascending base. Testing back on low volume after the Monday break higher on strong trade. Still above the 10 day EMA (12.15) still set up to make the break higher for us. To recap: Volume jumped above average Monday as CMZ broke higher, clearing the highs at 12.25 that marked the top of its 12 week base formed making higher lows above the 50 day EMA (11.51). Part of a larger 13 month base that has set the foundation for a run toward the old high over 16 hit when CMZ became public in late 2005. Clearing that mid-2007 high is an important move, opening the door to a run at that prior high.
Volume: 158.926K Avg Volume: 220.338K
BUY POINT: $12.77 Volume=300K Target=$15.45 Stop=$11.88
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ct/cmz.html
Play Date: 05/20/2008
DSX (Diana Shipping--$37.30; -1.50; optionable): Shipping
http://biz.yahoo.com/p/d/dsx.html
EARNINGS: Announced 5-14-08
STATUS: Breakout test. Still testing the 10 day EMA (36.18) on lower trade after that strong surge higher. Just letting it make the test and when it turns back up we will move in. To recap: Said we would get back in when it tested, and Tuesday DSX reached down to the 10 day EMA on the low and snapped back for a gain. Gapped higher last week, and this intraday move filled that gap and recovered. Looks ready to continue the advance in its large 7 month pattern. We are ready to move in as it makes the next move higher.
Volume: 3.02M Avg Volume: 1.551M
BUY POINT: $39.39 Volume=3.5M Target=$45.32 Stop=$36.63
POSITION: DSX IH - Sept. $40c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/dsx.html
Play Date: 05/03/2008
EQIX (Equinix--$88.73; -1.03; optionable): Telecom
http://biz.yahoo.com/p/e/eqix.html
EARNINGS: Announced 4-23-08
STATUS: Cup w/handle. Volume was better, moving toward average as EQIX tapped at the breakout point. Needs to show us the volume as it makes the move. To recap: Working laterally for two weeks over the 200 day SMA (86.80) after gapping higher in late April on earnings. After that strong volume move it needed to consolidate, and this handle is doing that, preparing for the breakout from its 6 month base. Excellent action with money flow well out ahead of the price, rising even as price moves laterally. That divergence is going to lead to the breakout move.
Volume: 916.916K Avg Volume: 1.133M
BUY POINT: New: 90.32; Breakout: $93.22 Volume=1.9M Target=$109.95 Stop=$88.32
POSITION: FQS IR - Sept. $90c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/eqix.html
Play Date: 05/20/2008
EXM (Excel Maritime Carriers--$53.10; -1.93; optionable): Shipping
http://biz.yahoo.com/p/e/exm.html
EARNINGS: Announced 5-19-08
STATUS: Breakout test. Testing the 10 day EMA (51.62) just as DRYS, coming back on lower though still strong trade. Tapped the 10 day EMA Tuesday and bounced; there is life there. Looking for the bounce higher to move in. To recap: Another shipper that surged then rolled over Monday after an upside gap. It tapped the 10 day EMA on the low and rallied right back. Looking for a continued move higher to give us the buy point as EXM rallies higher toward the October peak at 82.
Volume: 3.086M Avg Volume: 1.414M
BUY POINT: $55.68 Volume=3.5M Target=$74.95 Stop=$52.77
POSITION: EXM IK - Sept. $55c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/exm.html
Play Date: 05/20/2008
FWLT (Foster Wheeler--$75.81; -1.55; optionable): Heavy construction
http://biz.yahoo.com/p/f/fwlt.html
EARNINGS: Announced 5-7-08
STATUS: Double bottom w/handle. Still testing, holding over the 10 day EMA (74.44) on low, below average volume. Ignoring the selling. Strong. Be patient, let it finish the test, let it show us the move. To recap: Nice strong volume surge last week finished the right side of its 5 month base, rallying to 80, the February peak, the 'hump' in the pattern. It matched that level and has faded toward the 10 day EMA (74.31), tapping toward that on the Tuesday low and then rebounding for a modest gain. Very low volume shakeout setting up the next breakout and run for FWLT.
Volume: 2.599M Avg Volume: 3.836M
BUY POINT: $78.22 Volume=5M Target=$93.95 Stop=$74.89
POSITION: UFG HW - Aug. $77.50c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/fwlt.html
Play Date: 05/20/2008
ICO (International Coal Group--$9.62; -0.13; optionable): Coal
http://biz.yahoo.com/p/i/ico.html
EARNINGS: Announced 4-23-08
STATUS: Breakout test. Still testing the 10 day EMA on low trade, holding its gains, waiting for the downside market pressure to abate so it can continue its move. To recap: Making the second test of near support (the 10 day EMA) after the mid-April breakout from its 10 wee saucer base. Nice run making us good money as ICO rallies up the 10 day EMA (9.60), showing a doji there Tuesday on low volume; that indicates the test is just about over. Looking for more upside as ICO comes off this doji and gives us the new buy point.
Volume: 2.166M Avg Volume: 2.223M
BUY POINT: $10.11 Volume=3M Target=$12.15 Stop=$9.40
POSITION: ICO IB - Sept. $10c (58 delta) &/or Stock
http://www.investmenthouse.com/ci/ico.html
Play Date: 05/17/2008
MTRX (Matrix Service--$24.56; +0.07; optionable): Construction, repair services for US, Canadian petroleum and power industries
http://biz.yahoo.com/p/m/mtrx.html
EARNINGS: Announced 4-3-08
STATUS: Double bottom w/handle. A fourth consecutive doji over the 10 day EMA, tapping that on the session low and rebounding on a bit better trade. Nice, nice action and primed to make the break higher. To recap: Strong surge to start May, moving up to form the right side of a 6.5 month base. Spent the last half of the week working laterally on low volume, forming a handle to the base. In a combination area where it benefits from all of the oil and gas activity yet doesn't have to worry about drilling and production. Money flow is running strong ahead of price and that typically means an upside breakout. May take a few more days to set up for the breakout. Just going to be patient and let the breakout come to us.
Volume: 268.642K Avg Volume: 353.041K
BUY POINT: $25.05 Volume=550K Target=$29.95 Stop=$23.44
POSITION: QXW HE - Aug. $25c (56 delta, 121 OI) &/or Stock
http://www.investmenthouse.com/ci/mtrx.html
Play Date: 05/08/2008
ULTI (Ultimate Software--$34.78; +0.42; optionable): Internet software
http://biz.yahoo.com/p/u/ulti.html
EARNINGS: Announced 4-30-08
STATUS: Test breakout. Out of nowhere Wednesday volume jumps back above average as ULTI continues testing the 18 day EMA (34.33) and bouncing. Looking good for the breakout. To recap: Exploded higher to start the month on strong volume as earnings shot it out of the cannon, breaking it out of a 6 month double bottom base. Explosive move that is now testing on very light, below average trade, coming back to the 10 day EMA Wednesday and Thursday, bouncing off that level Thursday. Nice test of the breakout and ready to move in as ULTI continues the rebound on some better trade.
Volume: 272.213K Avg Volume: 226.88K
BUY POINT: $35.72 Volume=325K Target=$42.95 Stop=$33.94
POSITION: TTA GG - July $35c (57 delta, 102 OI) &/or Stock
http://www.investmenthouse.com/ci/ulti.html
Good Investing!
Jon L. Johnson and your Technical Traders Report 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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