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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 06/27/2008
BAX (Baxter Intl.--$62.91; +0.21; optionable): Medical instruments
http://biz.yahoo.com/p/b/bax.html
EARNINGS: 7-17-08
STATUS: Ascending base. Volume has jumped above average the past week and one-half as BAX pushes up to the early May high in its 6 month base. BAX is going about its own business, setting up nicely for the breakout to a new all-time high despite the market selling. Good defensive sector yet a growth one and a growth stock as well. Like the volume picking up as it bumps at the breakout point. Looks ready to make its move.
Volume: 5.46M Avg Volume: 3.279M
BUY POINT: $63.48 Volume=4.8M Target=$72.95 Stop=$61.42
POSITION: BAX KZ - Nov. $62.50c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/bax.html
Play Date: 06/27/2008
CMC (Commercial Metals--$37.76; +0.32; optionable): Steel and iron
http://biz.yahoo.com/p/c/cmc.html
EARNINGS: Announced 6-18-08
STATUS: Test 18 day EMA. CMC broke out from a 6.5 month reverse head and shoulders base in mid-May and has rallied up the 18 day EMA (37.29). It is making the second test of this near support, pulling back in last week's selling to this level on lower, average volume. Nice action, breaking out, rallying as a leader should, now set up to move higher once more and continue the breakout move. Very nice.
Volume: 1.659M Avg Volume: 1.553M
BUY POINT: $38.48 Volume=2M Target=$44.48 Stop=$36.78
POSITION: CMC IG - Sept. $35c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/cmc.html
Play Date: 06/27/2008
DO (Diamond Offshore--$137.88; +2.36; optionable): Offshore drilling
http://biz.yahoo.com/p/d/do.html
EARNINGS: Third week of July
STATUS: Ascending base. DO is moving in a large 6 month base, making higher lows along the 50 day EMA (132.89), just starting to come off of that support this week, moving higher Wednesday on rising, above average volume. Nice position to breakout from its base, and want to see it clear the April peak on some volume to show it has the buyers behind it to send it higher to a new all-time high.
Volume: 1.408M Avg Volume: 2.125M
BUY POINT: $140.94 Volume=3M Target=$164.95 Stop=$134.55
POSITION: DO IU - Sept. $140c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/do.html
Play Date: 06/27/2008
PBR (Petroleo Brasileiro--$69.23; +0.91; optionable): Brazilian oil and gas exploration
http://biz.yahoo.com/p/p/pbr.html
EARNINGS: 8-11-08
STATUS: Double bottom. PBR has formed a short 6 week base at the 50 day EMA (66.08), consolidating the mid-May breakout from a 6.5 month base. Nice action in the market selling, setting up its own base at support and preparing for the breakout move. Good volume surge Wednesday as it moved up and off the 50 day EMA to the 'hump' in the pattern. Looking for solid volume again as PBR makes the next break higher. Excellent leader set in excellent position to make a new break higher.
Volume: 14.57M Avg Volume: 17.567M
BUY POINT: $70.48 Volume=22M Target=$84.45 Stop=$67.68
POSITION: PMJ JN - Oct. $70c (55 delta) &/or Stock
http://www.investmenthouse.com/ci/pbr.html
Play Date: 06/27/2008
PBT (Permian Basin Royalty Trust--$25.57; +0.54; optionable): Oil and gas royalty
http://biz.yahoo.com/p/p/pbt.html
EARNINGS: Early August
STATUS: Ascending base. After a good run from February to April, PBT needed to consolidate, and the current 10 week base formed using the 90 day SMA as support is doing just that. Strong volume last week as PBT broke higher off of a test at the 50 day EMA (23.57), moving up to the May peak in the middle of the base. Looking for more strong volume as PBT clears that May high and makes the breakout move.
Volume: 471.314K Avg Volume: 582.08K
BUY POINT: $26.08 Volume=873K Target=$31.38 Stop=$24.25
POSITION: PBT IE - Sept. $25c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/pbt.html
Play Date: 06/27/2008
V (Visa, Inc.--$82.60; +3.50; optionable): Credit services
http://biz.yahoo.com/p/v/v.html
EARNINGS: 7-30-08
STATUS: Ascending base. On again, off again, on again. Visa has toyed with our affections the past few weeks, but once again is setting up for a breakout; maybe this time we get it. It has come back to test the 50 day EMA (79.29) again, making a higher low in its 8 week base. Huge volume Friday as V bounced off the 50 day; sure some of it was end of quarter action, but a nice base from a strong stock, and Visa looks ready to charge ahead for us to a new high.
Volume: 44.012M Avg Volume: 15.145M
BUY POINT: $85.05 Volume=20M Target=$97.95 Stop=$82.65
POSITION: V IQ - Sept. $85c (52 delta) &/or Stock
http://www.investmenthouse.com/ci/v.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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us stock market
stock recommendation
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