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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/09/2008
BHI (Baker Hughes--$89.56; +2.34; optionable): Oil and gas service
http://biz.yahoo.com/p/b/bhi.html
EARNINGS: 7-22-08
STATUS: reverse head and shoulders. BHI broke higher in mid-May, clearing the neckline at 85 in its 8 month base. It has moved laterally in a 5 point range following the initial breakout move. It is making a higher low at the 10 day EMA (87.35), bumping at the breakout point from its short consolidation range. Looking for a bit more trade as it makes the break higher.
Volume: 3.422M Avg Volume: 4.49M
BUY POINT: $90.48 Volume=6.5M Target=$104.95 Stop=$87.22
POSITION: BHI JR - Oct. $90c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/bhi.html
Play Date: 06/09/2008
GTE (Gran Tierra Energy--$6.50; +0.43; optionable): Oil and gas exploration in Argentina, Colombia
http://biz.yahoo.com/p/g/gte.html
EARNINGS: Announced 5-13-08
STATUS: Test 18 day EMA. A new issue in April, GTE surged on the IPO to 7 and has spent the past 2.5 weeks making the test, coming back to near support at the 18 day EMA (5.88) on lower volume. Nice test, nice strong break higher Monday on rising, strong volume. Nice action and ready to move in as GTE continues the break higher.
Volume: 2.007M Avg Volume: 1.404M
BUY POINT: $6.65 Volume=1.6M Target=$7.98 Stop=$6.18
POSITION: GTE HA - Aug. $5c (77 delta) &/or Stock
http://www.investmenthouse.com/ci/gte.html
Play Date: 06/09/2008
TITN (Titan Machinery--$25.77; +0.52; optionable): Retail outlets selling farm, ranch, construction machinery
http://biz.yahoo.com/p/t/titn.html
EARNINGS: 6-16-08
STATUS: Test 18 day EMA. A new issue in December 2007, TITN has formed a short 4 week cup and broke higher in mid-May with a gap. It rallied over 26 and spent the past week and one-half testing, coming back to the 18 day EMA. Lower volume on the test, just what you want to see. Friday volume moved higher up to average as TITN jumped off the 18 day EMA and Monday it continued higher on stronger volume with another gap. Like how TITN is strong in a weak market and ready to move in as it continues higher. One of the leading stocks in terms of sales and earnings growth rates. Excellent money flow is moving higher even on the test.
Volume: 693.332K Avg Volume: 570.866K
BUY POINT: $25.88 Volume=775K Target=$30.95 Stop=$24.07
POSITION: QTD IE - Sept. $25c (61 delta, 147 OI) &/or Stock
http://www.investmenthouse.com/ci/titn.html
Play Date: 06/09/2008
VMI (Valmont Industries--$112.62; +0.47; optionable): Metal fabricaion
http://biz.yahoo.com/p/v/vmi.html
EARNINGS: 7-17-08
STATUS: Test 18 day EMA. VMI broke out from a 7 month double bottom base in mid-April. It tested in late April, holding support at the 18 day EMA (112.17). It jumped higher and rallied nicely up the 10 and 18 day EMA, making us a nice chunk of change on that run. It is now testing again the past two weeks, coming back again to the 18 day EMA on low, below average volume. That shows no sellers, just profit taking. Looking for VMI to bounce up off this second test of the breakout and give us a nice entry point to the next leg higher.
Volume: 264.565K Avg Volume: 351.458K
BUY POINT: $114.75 Volume=525K Target=$129.95 Stop=$110.91
POSITION: VMI IC - Sept. $115c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/vmi.html
Downside:
Play Date: 06/09/2008
SDS (UltraShort S&P500 ETF--$59.36; -0.44; optionable)
http://biz.yahoo.com/p/s/sds.html
STATUS: Reverse head and shoulders. As SP500 forms a head and shoulders top below the 200 day SMA, its foil the SDS (moves inversely to SP500 at a 2:1 rate) has set up the equivalent upside pattern. Strong volume the past week. Looking to move in after this rebound move from the Friday selling dissipates and SDS turns back down.
Volume: 29.915M Avg Volume: 22.274M
BUY POINT: $59.84 Volume=30M Target=$64.95 Stop=$58.04
POSITION: SDS GG - July $59c (56 delta)
http://www.investmenthouse.com/ci/sds.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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