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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 07/03/2008
ALXN (Alexion Pharmaceuticals--$73.36; -0.69; optionable): Drugs
http://biz.yahoo.com/p/a/alxn.html
EARNINGS: Last week of July
STATUS: Reverse head and shoulders. Showing excellent action the past couple of weeks, finishing the right shoulder of its 8 month base with upside sessions on strong volume. ALXN obviously was getting some of the money leaving other areas such as materials and energy. Ready to break higher for an 8 year high from an excellent pattern and a good sector for a market that is selling and looking for defensive plays.
Volume: 424.499K Avg Volume: 627.575K
BUY POINT: $74.78 Volume=1M Target=$89.95 Stop=$72.08
POSITION: XQN KO - Nov. $75c (48 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/alxn.html
Play Date: 07/03/2008
MUR (Murphy Oil--$94.76; -0.37; optionable): Oil and gas refining, marketing
http://biz.yahoo.com/p/m/mur.html
EARNINGS: Last week of July
STATUS: Breakout test. MUR broke out from a 4.5 month ascending base in mid-May, rallying to 100, often a magnet that attracts a stock and then a barrier when it gets there. It faded and formed the current 6 week pattern, testing the move by coming back to support at the key 50 day EMA (91.47). Then a week back it started back up on strong trade, moving back to 100, breaking over it on Wednesday, but then succumbing to the selling in the energy sector. Even with that, it is in very good position, tapping the 50 day EMA once more on the Thursday low and then rebounding to flat. It is in excellent position to start the next run higher.
Volume: 2.095M Avg Volume: 1.838M
BUY POINT: $95.48 Volume=2.8M Target=$109.95 Stop=$91.32
POSITION: MUR JS - Oct. $95c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/mur.html
Play Date: 07/03/2008
RBN (Robbins & Myers, Inc.--$45.66; -2.92; optionable): Engineered equipment/systems for energy, chemical, pharma markets
http://biz.yahoo.com/p/r/rbn.html
EARNINGS: Late September
STATUS: Breakout test. Burst out of a long 8.5 month ascending base Monday as it announced strong earnings. Excellent volume on a move from an excellent foundation for a strong run higher. After that move it is testing back, using the market selling to test its move and set the next rally. Lower volume shows few sellers as the stock comes back after the high volume breakout. Thursday it tapped at the 10 day EMA (44.86) on the low and bounced. Looking to move in as RBN continues the bounce back up. May come back to test the 10 day EMA a bit more, but a strong breakout and this test is giving us a good entry point in a strong stock in this weaker market.
Volume: 656.554K Avg Volume: 491.848K
BUY POINT: $46.12 Volume=775K Target=$54.95 Stop=$43.48
POSITION: RBN JI - Oct. $45c (65 delta, low OI) &/or Stock
http://www.investmenthouse.com/ci/rbn.html
Play Date: 07/03/2008
TMX (Telefonos De Mexico--$23.98; +0.20; optionable): Fixed line carrier in Mexico, US
http://biz.yahoo.com/p/t/tmx.html
EARNINGS: Third week of July
STATUS: Breakout test. TMX broke higher out of a 12 month jagged cup base in late May, surging out of the pattern on strong volume. It rallied into early June, and then when the market sold, TMX came back, testing the breakout and holding the 50 day EMA (23.14) on the close over the past two weeks. It held and started higher last week in a down market, rallying up off of support on strong, above average volume. That is nice action for a stock in this market, and looking to move in as it continues the move off of key support.
Volume: 1.315M Avg Volume: 2.258M
BUY POINT: $24.58 Volume=3M Target=$28.65 Stop=$23.06
POSITION: TMX KX - Nov. $22.50c (62 delta, no OI) &/or Stock
http://www.investmenthouse.com/ci/tmx.html
New buy point on current position:
Play Date: 07/03/2008
BZP (BPZ Resources, Inc.--$27.46; +0.08; optionable): Oil and gas exploration
http://biz.yahoo.com/p/b/bzp.html
STATUS: Test 18 day EMA. Testing the last break higher from just over a week back as BZP gapped higher off a 50 day EMA test. Something of a 10 week ascending base preceded this action, and that has given it a good floor to move higher. It is making its second test of near support, and after reaching below the 18 day EMA (26.60) intraday , it rebounded for a gain. Looking for some good volume as BZP continues this rebound. This is one energy stock that weathered last week's selling quite well and remains in great position to move higher and make us some more money.
Volume: 879.646K Avg Volume: 925K
BUY POINT: $28.11 Volume=1.2M Target=$33.95 Stop=$26.42
POSITION: BZP IE - Sept. $25c (76 delta) &/or Stock
http://www.investmenthouse.com/ci/bzp.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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