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Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/19/2008
AMSC (American Superconductor--$44.02; +1.36; optionable): Semiconducting materials
http://biz.yahoo.com/p/a/amsc.html
EARNINGS: Early August
STATUS: Test breakout. Looking at AMSC again as it has consolidated a big move in early June that made us some money and is setting up over the 10 day EMA (41.22). Started to break higher Thursday off of that level on a good shot of rising, above average volume. AMSC is looking for a 7 year high. Strong money flow is leading higher and AMSC is set up again to follow it as a new leader in the market.
Volume: 1.424M Avg Volume: 984.172K
BUY POINT: $44.48 Volume=1.5M Target=$52.45 Stop=$41.37
POSITION: QAY JH - Oct. $40c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/amsc.html
Play Date: 06/19/2008
BRCM (Broadcom--$27.22; +1.92; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/b/brcm.html
EARNINGS: Third week of July
STATUS: Test 50 day EMA. Looking at BRCM again as it refuses to give up its April run higher that reversed its downtrend. After that surge it has traded for 8 weeks in a trading range from 25 to 29ish. After coming back to the 50 day EMA (25.64) the past week and one-half volume jumped and BRCM jumped off the 50 day Thursday. If it can continue this move on stronger volume it is a buy.
Volume: 19.623M Avg Volume: 14.591M
BUY POINT: $28.12 Volume=20M Target=$32.45 Stop=$26.32
POSITION: RCQ HY - Aug. $27.50c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/brcm.html
Play Date: 06/19/2008
FSLR (First Solar--$274.32; -1.43; optionable): Solar semiconductors
http://biz.yahoo.com/p/f/fslr.html
EARNINGS: Last week of July
STATUS: Double bottom w/handle. A neat little set up here if it can pull it off. FSLR set up something of a head and shoulders in April and May, selling off to end May by undercutting the early May gains. It sold off through the first week of June but found support near the 90 day SMA and bounced sharply through this week. It then tested back, tapping near the 50 day EMA (265.54) on the low and rebounded. Looking for volume to surge back up as FSLR does the same thing. Can fly when it gets going and if it shows strong volume and gives us a good bounce it can make us some solid money.
Volume: 2.272M Avg Volume: 4.568M
BUY POINT: $279.11 Volume=6.5M Target=$319.95 Stop=$265.94
POSITION: HJQ IU - Sept. $280c (53 delta)
http://www.investmenthouse.com/ci/fslr.html
Play Date: 06/19/2008
GILD (Gilead Sciences--$55.47; +2.02; optionable): Biotechnology
http://biz.yahoo.com/p/g/gild.html
EARNINGS: Mid-July
STATUS: Test 50 day EMA. Broke out in late March from a 3 month double bottom with handle base, rallying up the 18 day EMA (54.15) through the start of June. After that run up the short term moving averages it needed a deeper test, and it came back to the 50 day EMA (53) the past week. It held the 50 day showing stronger volume on the upside sessions. Then it broke higher Thursday on the best volume of the month. Strong money flow is leading higher. GILD started to follow it Thursday and if it continues we will be ready to move into positions.
Volume: 8.557M Avg Volume: 6.77M
BUY POINT: $55.69 Volume=7.2M Target=$63.95 Stop=$52.91
POSITION: GDQ HK - Aug. $55c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/gild.html
New buy point on current position:
Play Date: 06/19/2008
BZP (BPZ Resources, Inc.--$26.42; -0.94; optionable): Oil and gas drilling, exploration
http://biz.yahoo.com/p/b/bzp.html
STATUS: Test 10 day EMA. Looking for a new run from BZP as it comes back to test the 10 day EMA (25.79), its second test of the near support since the early May breakout from a 5 week cup with handle base. Despite the selling in energy, BZP is holding up very well, using the selling to test. Looking for the 10 day EMA to hold and then send BZP back up. We can enter new positions on that move.
Volume: 836.344K Avg Volume: 1M
BUY POINT: $26.88 Volume=1.1M Target=$31.95 Stop=$25.57
POSITION: BZP IE - Sept. $25c (64 delta) &/or Stock
http://www.investmenthouse.com/ci/bzp.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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