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trend trading stock, stock trading site
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 07/02/2008
CMZ (Compton Petroleum--$12.73; +0.18; no options): Oil and gas exploration
http://biz.yahoo.com/p/c/cmz.html
EARNINGS: 8-12-08
STATUS: Test breakout. CMZ broke higher three weeks, back, clearing a 3.5 month base formed along the 50 day EMA (12.09). This is part of a much larger 13 month cup with handle. Strong volume on the break higher, then a lateral move in a trading range over support at 12.50. Solid action, weathering the market selling by consolidating. Great action; just need to see a break higher on solid trade.
Volume: 266.131K Avg Volume: 239.868K
BUY POINT: $13.22 Volume=360K Target=$15.95 Stop=$12.32
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/cmz.html
Play Date: 07/02/2008
IVAN (Ivanhoe Energy--$3.29; -0.22; no options): Oil and gas drilling, exploration
http://biz.yahoo.com/p/i/ivan.html
EARNINGS: Second week August
STATUS: Test breakout. In a multiyear base that started in late 2003 after a huge surge that year. Nice breakout in late May from a 7 month cup with handle base. Strong run higher on strong volume, hitting near 4 on the June high. It them came back to test, holding near support at the 18 day EMA (3.29). Now testing the 10 day EMA on the Wednesday close, making a lower high on low volume and looking solid for a renewed break higher given that it basically ignored the selling and is holding its trend and near support.
Volume: 2.122M Avg Volume: 2.735M
BUY POINT: $3.60 Volume=3.5M Target=$6.45 Stop=$3.35
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/ci/ivan.html
Downside: Some stocks set to fall even after this decline.
Play Date: 07/02/2008
AG (Agco Corp.--$49.88; -1.94; optionable): Farm and construction machinery
http://biz.yahoo.com/p/a/ag.html
EARNINGS: Last week July
STATUS: Put. Big double top from December peak and April peak. Broke lower to end April, tried to hold some support at 55 on into June, but broke lower mid-month, falling to next support at 50. That could not produce a bounce and AG started edging lower Wednesday on stronger above average volume. Money flow is in the toilet and heading lower. Looking for AG to continue following it down the drain. A move to the target lands a 48%ish gain.
Volume: 2.673M Avg Volume: 2.059M
BUY POINT: $49.67 Volume=2.4M Target=$45.55 Stop=$52.55
POSITION: AG TJ - Aug. $50p (-52 delta)
http://www.investmenthouse.com/ci/ag.html
Play Date: 07/02/2008
AMT (American Tower--$39.36; -1.22; optionable): Cell phone towers
http://biz.yahoo.com/p/a/amt.html
EARNINGS: Early August
STATUS: Head and shoulders. Tried to hang on but it was too much to ask. AMT formed a 6 week topping pattern and sold to the 200 day SMA (41.61) the last week of June, trying to make a stand. Then the new month came and it just gave up, flopping through that support on very strong trade. Wednesday it was down again on lower but still solid downside volume. Looking to move in as AMT continues lower. It will bounce up and down as it moves, and after this leg lower we will look at more positions as it bounces and then turns lower once more toward the ultimate target near 36. That move generates a 55%ish gain.
Volume: 5.672M Avg Volume: 3.701M
BUY POINT: $39.25 Volume=4M Target=$36.12 Stop=$40.66
POSITION: AMT TH - Aug. $40p (-50 delta)
http://www.investmenthouse.com/ci/amt.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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