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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
New plays:
Upside:
Play Date: 05/27/2008
AMZN (Amazon.com--$80.62; +2.27; optionable): Online retail
http://biz.yahoo.com/p/a/amzn.html
EARNINGS: 7-23-08
STATUS: Cup. AMZN has formed a 6 week reverse head and shoulders as it approaches the shank of a 5 month cup base, showing some strong volume shots last week and Tuesday as it bumps the 200 day SMA. It rallied up to that resistance in late April, faded, bounced again last week, tested once more. It made a higher low at the 18 day EMA last week, and started to bounce Monday. Looking for a strong, high volume move up through the 200 day to give us the buy point as AMZN breaks through and starts the run toward the old high at 95.
Volume: 10.109M Avg Volume: 8.858M
BUY POINT: $81.21 Volume=13M Target=$93.45 Stop=$77.11
POSITION: ZQN GP - July $80c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/amzn.html
KMT (Kennametal--$36.98; +0.17; optionable): Machine tools
http://biz.yahoo.com/p/k/kmt.html
EARNINGS: Announced 4-24-08
STATUS: Test 200 day SMA. Broke through this key resistance level just over a week back, starting the break from its 7 month base. Very nice tight fade back to test that move higher, holding at the 10 day EMA and above the 200 day SMA (36.20) this week. Volume bumped up to average Monday as KMT showed a tight doji on the candlestick chart, suggesting the pullback is over. Plenty of room overhead to run and love this tight little pullback.
Volume: 581.987K Avg Volume: 570.614K
BUY POINT: $37.88 Volume=856K Target=$44.95 Stop=$36.11
POSITION: KMT GG - July $35c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/kmt.html
Play Date: 05/27/2008
SRCL (Stericycle--$58.70; +1.23; optionable): Waste management
http://biz.yahoo.com/p/s/srcl.html
EARNINGS: 7-24-08
STATUS: Double bottom. Nice volume spikes on the upside the past two weeks as SRCL cleared the April peak, the 'hump' in its 17 week base. Like to see that stronger trade as a break higher takes over. After quick test to end last week SRCL was back up Tuesday on rising, average trade. Gunning for a new all-time high, following the strong money flow higher. Very nice.
Volume: 728.908K Avg Volume: 713.711K
BUY POINT: $59.12 Volume=1M Target=$67.95 Stop=$56.28
POSITION: URL HK - Aug. $55c (74 delta) &/or Stock
http://www.investmenthouse.com/ci/srcl.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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trade stock
stock recommendation
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