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us stock market, trade stock
Begin part 3 of 3
THE PLAYS:
Upside:
New buy points on current positions that have pulled back in the selling.
Play Date: 06/26/2008
AGU (Agrium--$103.92; -3.14; optionable): Agriculture chemicals
http://biz.yahoo.com/p/a/agu.html
EARNINGS: 8-6-08
STATUS: Test 18 day EMA. After breaking out from a 7 week base in early June and rallying to 114, AGU is testing the move, using the market selling to pull back to near support at the 18 day EMA (102.17) on some profit taking. Lighter volume on the selling, and indeed the stronger volume on the pullback was on an upside session; still buyers ready to move in. Good spot for AGU to hold and rebound to continue the breakout move. Looking to move in as it resumes the upside.
Volume: 5.546M Avg Volume: 4.956M
BUY POINT: $105.88 Volume=7M Target=$121.95 Stop=$101.92
POSITION: AGU HA - Aug. $105c (52 delta) or AGU JA - Oct. $105c (49 delta) &/or Stock
http://www.investmenthouse.com/ci/agu.html
Play Date: 06/26/2008
ICO (International Coal Group--$12.63; -0.08; optionable): Coal
http://biz.yahoo.com/p/i/ico.html
EARNINGS: Third week of July
STATUS: Pennant. ICO has put in quite a move to this point, but it is consolidating so nicely with an easy, low volume pullback and lateral move along the 10 day EMA (12.39), showing a series of dojis on the candlestick chart in a very nice tight range. Classic consolidation, very similar to what oil showed before it broke out Thursday. Thus we are looking for ICO to make the next break higher on some solid trade and give us the next entry point as it climbs higher.
Volume: 2.277M Avg Volume: 3.07M
BUY POINT: $13.12 Volume=4.5M Target=$15.95 Stop=$12.09
POSITION: ICO IV - Sept. $12.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/ico.html
Play Date: 06/26/2008
PDO (Pyramid Oil--$34.10; -0.84; no options): Independent oil and gas
http://biz.yahoo.com/p/p/pdo.html
STATUS: Test 10 day EMA. After a big surge early in the week that took PDO to 46 and gave us a nice gain, PDO has faded back toward near support at the 10 day EMA (31.17), tapping at that level on the intraday lows Wednesday and Thursday, then rebounding to close. That shows there are buyers at that level, ready to push the stock back up. Strong breakout from a short cup base, and now a nice test above near support. May take another session or two to finish the pullback, but we are ready to move in as PDO breaks higher once more off this breakout test.
Volume: 648.336K Avg Volume: 495K
BUY POINT: $35.12 Volume=495K Target=$42.65 Stop=$32.66
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/pdo.html
Play Date: 06/26/2008
TITN (Titan Machinery--$29.98; -0.65; optionable): Industrial equipment retail
http://biz.yahoo.com/p/t/titn.html
EARNINGS: Announced 6-16-08
STATUS: Test 18 day EMA. TITN gapped out of a 7 week base mid-June on a strong earnings report, rallying nicely to 34 before selling sharply Wednesday in the market reversal. Held the 18 day EMA (29.34) on the Wednesday low and showed a very tight doji with tail over that level Thursday, recovering from early selling with a solid volume rebound. Like those reversals shown with this kind of doji, and looking for TITN to resume its breakout move now that it has closed the gap made on its earnings report. Ready to move in as it resumes the upside move. A new issue in December, so it has a lot of life left in it.
Volume: 1.35M Avg Volume: 745.698K
BUY POINT: $30.85 Volume=1.5M Target=$36.95 Stop=$29.08
POSITION: QTD IF - Sept. $30c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/titn.html
Play Date: 06/26/2008
XTO (XTO Energy--$67.14; -0.19; no options): Independent oil and gas
http://biz.yahoo.com/p/x/xto.html
EARNINGS: Third week of July
STATUS: Test 50 day EMA. XTO did not make much upside after we entered on Monday. It tumbled Wednesday down to the 50 day EMA (66) on the low and bounced. Thursday it gapped higher then gave up the move, tapping the 50 day on the low again and rebounding. Looking for XTO to hold this key level and bounce back up through the near term moving averages. When it makes that move on some solid trade we will move in with new positions.
Volume: 9.501M Avg Volume: 6.554M
BUY POINT: $69.06 Volume=9.8M Target=$81.95 Stop=$67.11
POSITION:
http://www.investmenthouse.com/ci/xto.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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