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stock recommendation, stock market recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/25/2008
FTI (FMC Technologies--$77.21; -0.88; optionable): Offshore drilling technology
http://biz.yahoo.com/p/f/fti.html
EARNINGS: 8-5-08
STATUS: Breakout test. FTI is working on a 6 week ascending base that is consolidating the mid-April breakout from a 5.5 month base. Nice surge on the breakout into early May, and then the current base formed. Making a series of higher lows over the 18 day EMA (76.76). Reached below the 18 day EMA on Wednesday and then reversed to hold that level. Looks solid and just waiting for the breakout move.
Volume: 1.253M Avg Volume: 1.769M
BUY POINT: $79.88 Volume=2.7M Target=$91.95 Stop=$76.48
POSITION: FTI JP - Oct. $80c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/fti.html
Play Date: 06/25/2008
NOV (National Oilwell--$89.96; +0.73; optionable): Oil and gas drilling
http://biz.yahoo.com/p/n/nov.html
EARNINGS: Late July.
STATUS: Breakout test. The onshore version of drillers. NOV broke out from a 7 month base in mid-May and rallied up to 88ish. It then consolidated over the past 6 weeks, making a series of higher lows over the 18 day EMA (84.93). Screamed higher in a continuation of the breakout on Monday, then tested the move Tuesday and Wednesday, rebounding Wednesday off an 18 day EMA intraday test. Nice action and ready to move in as NOV continues higher.s
Volume: 8.011M Avg Volume: 6.52M
BUY POINT: $91.25 Volume=7.5M Target=$104.95 Stop=$86.58
POSITION: NON KR - Nov. $90c (51 delta) or NOV HQ - Aug. $85c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/nov.html
Play Date: 06/25/2008
PSYS (Psychiatric Solutions--$38.55; +0.13; optionable): Health services
http://biz.yahoo.com/p/p/psys.html
EARNINGS: Late July
STATUS: Breakout test. PSYS surged out of a 7.5 month cup with handle base that formed a reverse head and shoulders at the bottom. Strong break on strong volume last week, and then moving laterally this week, testing the move as PSYS waits for the 10 day EMA (37.97) to rise up to it and send it higher. Very solid and an excellent test. May come on back to the 10 day EMA before it surges again, but ready to move in as it does.
Volume: 622.366K Avg Volume: 924.676K
BUY POINT: $39.11 Volume=1.2M Target=$44.95 Stop=$37.39
POSITION: BYU IG - Sept. $35c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/psys.html
Play Date: 06/25/2008
VAR (Varian Medical Systems--$52.48; +0.60; optionable): Medical appliances
http://biz.yahoo.com/p/v/var.html
EARNINGS: 7-23-08
STATUS: Cup w/handle. As the market sold VAR used that downside to form a nice, orderly week long handle to its 5 month base. You like to see that action as it shows very few sellers despite the overall selling in the market, Instead, VAR is testing near support at the 10 day EMA (51.34), setting up for a nice breakout move as the market rebounds which, it looks as if it is going to do. Very solid. Just waiting for the strong volume break higher through the buy point.
Volume: 555.384K Avg Volume: 1.034M
BUY POINT: $52.77 Volume=1.5M Target=$59.95 Stop=$50.89
POSITION: VAR HJ - Aug. $50c (56 delta) or VAR KK - Nov. $55c (48 delta) &/or Stock
http://www.investmenthouse.com/ci/var.html
Downside:
Play Date: 06/25/2008
IJR (Ishares S&P 600 Smallcap--$62.56; +0.80; optionable)
http://biz.yahoo.com/p/i/ijr.html
STATUS: Head and shoulders. The SP600 that IJR tracks broke down from a 6 week head and shoulders topping pattern, gapping lower Tuesday on high NYSE volume and then rebounding Wednesday, tapping at the neckline on the high (63) and then fading back. Looking to move into the downside play as IJR falls below the 90 day SMA (62.20). A move to the target lands a 35%ish gain.
Volume: 3.074M Avg Volume: 1.514M
BUY POINT: $62.14 Volume=2M Target=$60.00 Stop=$62.66
POSITION: JIN TJ - Aug. $63p (-49 delta)
http://www.investmenthouse.com/ci/ijr.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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stock recommendation
stock market recommendation
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