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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 05/23/2008
COP (ConocoPhillips--$91.40; -0.60; optionable): Large oil and gas
http://biz.yahoo.com/p/c/cop.html
EARNINGS: 4-24-08
STATUS: Breakout test. Two Fridays back COP broke higher from a rangy 10 month base, rallying to an all-time high on the move. It tapped 95 Wednesday and then sold back to test, holding support at 90 on the intraday low before setting at the 10 day EMA. Nice full test of the breakout and set to continue the move higher. Very nice pattern and very nice test to set up the new buy point.
Volume: 17.013M Avg Volume: 12.134M
BUY POINT: $92.65 Volume=19M Target=$106.75 Stop=$90.45
POSITION: COP HR - Aug. $90c (60 delta) &/or Stock
http://www.investmenthouse.com/ci/cop.html
Play Date: 05/23/2008
CX (Cemex SA--$30.81; -0.41; optionable): Cement
http://biz.yahoo.com/p/c/cx.html
EARNINGS: Announced 4-21-08
STATUS: Test breakout. Ready to make another play on CX as it makes a nice test back to tap the 10 day EMA on the Friday low (30.35) and then rebounding to cut its losses. Nice surge off the consolidation above the 200 day SMA, setting up a new break higher as CX continues moving higher and forming up the right side of the 12 month base. Nice action and ready to move in as this pullback turns into the next bounce higher. Very nice.
Volume: 3.184M Avg Volume: 5.404M
BUY POINT: $31.38 Volume=7.5M Target=$37.89 Stop=$30.12
POSITION: CIZ JF - Oct. $30c (56 delta) &/or Stock
http://www.investmenthouse.com/ci/cx.html
Play Date: 05/23/2008
EMR (Emerson Electric--$56.08; -0.58; optionable): Industrial equipment and components
http://biz.yahoo.com/p/e/emr.html
EARNINGS: 5-6-08
STATUS: Cup w/handle. EMR faded back last week to near support at the 18 day EMA, tapping that level on the Friday low on low, below average volume. That lower trade shows no selling on the pullback. Great shakeout in the 6 month base as it forms the handle, setting up the move to a new all-time high. Excellent action in a weak market, using it to its advantage to set up the breakout for us.
Volume: 2.554M Avg Volume: 3.95M
BUY POINT: $56.88 Volume=6M Target=$66.75 Stop=$55.42
POSITION: EMR IK - Sept. $55c (63 delta) &/or Stock
http://www.investmenthouse.com/ci/emr.html
Play Date: 05/23/2008
LMNX (Luminex--$20.42; +0.12; optionable): Medical instruments
http://biz.yahoo.com/p/l/lmnx.html
EARNINGS: Announced 5-8-08
STATUS: Ascending triangle. Some big 'get ready' spikes the past week as LMNX tightens up in its 7 week triangle formed using the 50 day EMA (19.25) as support below the constant top at 21. This is the tail end of a large 19 month base, preparing LMNX for the breakout to a new 6-year high. Strong money flow is leading the way higher, and with LMNX pinching off in its base it looks close to making the breakout. More defensive but a great pattern and LMNX can run just like any growth stock.
Volume: 328.448K Avg Volume: 275.738K
BUY POINT: $21.11 Volume=450K Target=$25.45 Stop=$19.88
POSITION: UQV GD - July $20c (60 delta, 65 OI) &/or Stock
http://www.investmenthouse.com/ci/lmnx.html
Play Date: 05/23/2008
MR (Mindray Medical Intl.--$38.72; +1.33; optionable): Chinese medical instruments
http://biz.yahoo.com/p/m/mr.html
EARNINGS: 5-7-08
STATUS: Reverse head and shoulders. Volume spiked well above average Friday as MR jumped off the 200 day SMA test, ready to resume the early May breakout (earnings driven) of a 5 month base. Gapped over the 200 day on earnings, tested back to support, and is now on the way up again. Looks very nice after this long base. MR made us great money in 2007, and looks ready to do so again.
Volume: 1.132M Avg Volume: 738.316K
BUY POINT: $39.31 Volume=1M Target=$47.42 Stop=$37.21
POSITION: MR JH - Oct. $40c (55 delta) or MR GG - July $35c (81 delta) &/or Stock
http://www.investmenthouse.com/ci/mr.html
Play Date: 05/23/2008
PKI (Perkinelmer--$28.41; +0.42; optionable): Medical instruments
http://biz.yahoo.com/p/p/pki.html
EARNINGS: Announced 4-24-08
STATUS: Test breakout. PKI broke higher two weeks back from an 8 month cup with handle base, then spent last week testing the move, coming back to tap intraday at the 18 day EMA on Thursday. Strong break higher Friday on strong, above average volume. All in a down market. Very nice with strong money flow leading the way higher.
Volume: 1.471M Avg Volume: 1.062M
BUY POINT: $28.82 Volume=1.2M Target=$33.32 Stop=$27.42
POSITION: PKI IE - Sept. $25c (71 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/pki.html
Play Date: 05/23/2008
WMGI (Wright Medical--$28.90; -0.29; optionable): Medical appliances
http://biz.yahoo.com/p/w/wmgi.html
EARNINGS: 4-24-08
STATUS: Cup w/handle. Very quiet action last week as WMGI moved along in a tight range at the 10 day EMA, tapping at the 18 day EMA on the Friday low just to get its bearings. Really nice quiet action in the 7 month base as WMGI sets up to make the breakout move to a four year high. The calm before the storm with the low volume and tight quiet range. Money flow is running higher ahead of price and just going to sit back and let WMGI show us that it is ready to make the break higher with a solid higher volume move through the buy point.
Volume: 298.681K Avg Volume: 427.506K
BUY POINT: $30.04 Volume=650K Target=$35.95 Stop=$28.24
POSITION: QWM HF - Aug. $30c (46 delta) &/or Stock
http://www.investmenthouse.com/ci/wmgi.html
Good Investing!
Jon L. Johnson and your IH Alerts 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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trade stock
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