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trade stock, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/10/2008
PDO (Pyramid Oil--$19.04; +0.44; no options): Independent oil and gas
http://biz.yahoo.com/p/p/pdo.html
STATUS: Test 18 day EMA. A new issue in August 2006, PDO toiled in anonymity through late April 2008. Then it surged with the energy surge. Explosive move from mid-May sent it to 28, then it reversed and fell back to the 10 day EMA (18.96) and 18 day EMA (17.71). It has spent the past two weeks working laterally in an tight range over this near support on lower volume. Tried to gear up the next break higher Friday on strong volume but then faded back to test the 18 day EMA once more. Low volume as it made this pullback. Waiting to see if it will continue to hold this support and then make the next break higher on rising volume. It will tell us whether to get in or not.
Volume: 202.676K Avg Volume: 350K
BUY POINT: $20.11 Volume=400K Target=$26.95 Stop=$18.91
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/pdo.html
Play Date: 06/10/2008
SLB (Schlumberger--$102.34; -2.47; optionable): Oil and gas service company
http://biz.yahoo.com/p/s/slb.html
EARNINGS: Third week of July
STATUS: Reverse head and shoulders. Working on a 6 week double bottom with handle base over the 50 day EMA (99.24) as the last part of a larger 9 month accumulation base. Strong break higher in April on earnings, then the move laterally through this week, consolidating and setting up the next breakout try. Making a higher low at the 18 day EMA, and that typically precedes a breakout attempt.
Volume: 7.8M Avg Volume: 9.095M
BUY POINT: $105.11 Volume=12M Target=$119.95 Stop=$102.08
POSITION: SDB HA - Aug. $105c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/slb.html
Play Date: 06/10/2008
STLD (Steel Dynamics--$37.77; -1.20; optionable): Steel and iron
http://biz.yahoo.com/p/s/stld.html
EARNINGS: Third week of April
STATUS: Double bottom w/handle. Broke higher last week on strong volume, clearing an 8 week base. Coming back on lower volume to test and form a handle, tapping the 10 day EMA (37.16) on the Tuesday low, rebounding to cut the losses. Nice higher low setting up a new breakout to a new all-time high.
Volume: 3.887M Avg Volume: 4.728M
BUY POINT: $38.48 Volume=6.5M Target=$36.75 Stop=$36.68
POSITION: RQL HU - Aug. $37.50c (57 delta) &/or Stock
http://www.investmenthouse.com/ci/stld.html
Play Date: 06/10/2008
UNP (Union Pacific--$78.56; -1.16; optionable): Railroads
http://biz.yahoo.com/p/u/unp.html
EARNINGS: Last week July
STATUS: Test 18 day EMA. Took some gain on UNP after a strong run for us, not wanting it to turn as the rails started to weaken some. It has held the 18 day EMA (78.23), and if it can make the break higher on some solid trade we will look to play that move. It is getting a bit long in the tooth on this run; it broke out in April from a 5 month base and has rallied nicely up the 18 day EMA. Thus we are just looking for one more strong run; if it goes just 5 points and weakens then we will go ahead and take the gain and be happy.
Volume: 4.147M Avg Volume: 5.791M
BUY POINT: $79.22 Volume=6.5M Target=$90.95 Stop=$77.75
POSITION: UNP HA - Aug. $77.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/unp.html
New buy point on a current position:
Play Date: 06/10/2008
SIM (Grupo Simec--$16.56; -0.66; optionable): Steel and iron
http://biz.yahoo.com/p/s/sim.html
EARNINGS: Last week July
STATUS: Breakout test. SIM is testing its last run in its breakout, coming back toward the 10 day EMA (16.16) on lower, below average volume. SIM broke higher from a 10 month cup with handle base (part of a much larger base), surged in May, tested, broke higher in early June, and is now testing again. May come all the way back to the 10 day EMA before bouncing once more, but if it starts back up here we will be ready to move in. Very strong, very nice.
Volume: 189.227K Avg Volume: 179.445K
BUY POINT: $16.69 Volume=275K Target=$20.00 Stop=$15.94
POSITION: SIM GC - July $15c (75 delta) &/or Stock
http://www.investmenthouse.com/ci/sim.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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