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Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 07/01/2008
CYBX (Cybertronics--$21.70; +1.15; optionable): Medical appliances
http://biz.yahoo.com/p/c/cybx.html
EARNINGS: Announced 6-11-08
STATUS: Breakout test. Surged higher two weeks back, breaking out from a 14 month cup base that was part of a larger overall pattern. Strong surge on strong volume as earnings were solid, reaching to 23.60 on the high. It has come back to test near support in the market selling, fading back on lower volume than the breakout and run. Held at the 18 day EMA (20.51) the past two sessions, bouncing Monday on solid, above average volume. Nice action and showing a lot of buying behind it. Ready to move in as CYBX continues its move higher.
Volume: 470.943K Avg Volume: 306.923K
BUY POINT: $22.08 Volume=445K Target=$26.85 Stop=$20.46
POSITION: QAJ JD - Oct. $20c (59 delta) &/or Stock
http://www.investmenthouse.com/ci/cybx.html
Play Date: 07/01/2008
NGAS (NGAS Resources--$9.28; -0.02; optionable): Oil and gas exploration
http://biz.yahoo.com/p/n/ngas.html
EARNINGS: Second week of August
STATUS: Test 18 day EMA. NGAS broke out from an 11 month base in early May, rallying on strong earnings and volume. It is making its third test of the 18 day EMA (9.26) after the breakout, holding at that near support on very low volume as the market sells. Nice lateral move, refusing to give up gains. Very quiet and you like quiet when most everything else is selling. Looking for it to wake up and show us some big volume upside, and that is when we move in.
Volume: 185.482K Avg Volume: 447.792K
BUY POINT: $9.78 Volume=580K Target=$11.95 Stop=$9.08
POSITION: NQR IE - Sept. $7.50c (79 delta) &/or Stock
http://www.investmenthouse.com/cd/ngas.html
Play Date: 07/01/2008
PDS (Precision Drilling--$27.24; -0.10; optionable): Oil and gas service company
http://biz.yahoo.com/p/p/pds.html
EARNINGS: 7-24-08
STATUS: Flat base. PDS has spent the past 7 weeks working in a 2 point trading range, consolidating the run from March to May. Nice strong rally and now a lateral move, waiting for the 50 day EMA (26.35) to catch up to it. Just about there, and looking for that to send PDS higher, breaking it out of this trading range. Want to see some volume on the move as that shows us it has the backing to make the breakout stick. Another very solid oil and gas play.
Volume: 775.76K Avg Volume: 727.022K
BUY POINT: $28.31 Volume=1.1M Target=$33.95 Stop=$26.33
POSITION: PDS IE - Sept. $35c (79 delta) &/or Stock
http://www.investmenthouse.com/ci/pds.html
Play Date: 07/01/2008
RDC (Rowan Co.--$46.75; +0.39; optionable): Drilling
http://biz.yahoo.com/p/r/rdc.html
EARNINGS: 8-5-08
STATUS: Ascending base. RDC broke out from a big, rangy 9.5 month base in mid-May, surging near 48 on the move. It is currently testing the break to an all-time high, but did not give up much ground, instead making a series of higher lows along the 18 day EMA (45.45) below a top near 46-47. Solid volume the past couple of weeks with some good volume spikes including one on Monday as it gapped modestly higher. Solid and looking for a break higher out of this range to give us the buy point.
Volume: 3.368M Avg Volume: 3.095M
BUY POINT: $47.88 Volume=4.5M Target=$56.95 Stop=$45.32
POSITION: RDC JI - Oct. $45c (54 delta) &/or Stock
http://www.investmenthouse.com/ci/rdc.html
Good Investing!
Jon L. Johnson and The Daily Staff
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 of 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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