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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--$73.32; -0.04; 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: 426.049K Avg Volume: 624.012K
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: 07/07/2008
CELG (Celgene--$69.19; +1.82; optionable): Biotechnology
http://biz.yahoo.com/p/c/celg.html
EARNINGS: Early August
STATUS: Breakout test. CELG gapped higher to start the month, finally getting some life in its 9 month base. A big winner through October 2007 it has now based out, setting the foundation for a new breakout and run higher. Got the break last week, tested a couple of days, then was back up Monday on rising, above average volume. Nice breakout, refused to give up the gains, now moving back up. Ready to move in as it continues the bounce after the breakout.
Volume: 6.02M Avg Volume: 4.183M
BUY POINT: $69.49 Volume=6M Target=$79.95 Stop=$66.88
POSITION: LQH JM - Oct. $65c (69 delta) &/or Stock
http://www.investmenthouse.com/ci/celg.html
Play Date: 07/07/2008
GENZ (Genzyme--$72.79; -0.24; optionable): Biotechnology
http://biz.yahoo.com/p/g/genz.html
EARNINGS: 7-23-08
STATUS: Test 200 day SMA. Volume moved above average Monday as GENZ tapped the 10 day EMA on the low and rebounded to hold over the 200 day SMA (72.24). Good surge off the bottom of its 6 month base and now a nice easy test. Looks ready to make the bounce higher and just need a bit more volume as it makes the next break higher.
Volume: 2.718M Avg Volume: 2.42M
BUY POINT: $73.48 Volume=3.2M Target=$82.45 Stop=$71.22
POSITION: GAA JV - Oct. $72.50c (53 delta) &/or Stock
http://www.investmenthouse.com/ci/genz.html
Play Date: 07/07/2008
POT (Potash--$209.98; -0.91; optionable): Fertilizer
http://biz.yahoo.com/p/p/pot.html
EARNINGS: 7-24-08
STATUS: Test 50 day EMA. POT has been on a rampage for about 20 months and it has made us some nice money along the way. After such a long run we cannot look for another 20 months of upside, but this test back to the 50 day EMA (209.43) over the past two weeks on mostly low, below average volume is setting it up for a break higher despite the weakness in the market overall and the ag sector. Even when it sold on Wednesday, volume barely kicked up. Like that and how it showed a nice tight doji with tail Thursday as it reached below the 50 day EMA and then recovered to close just over that key level. Tried to make the move Monday but reversed, holding at the 50 day EMA on the close. We are looking for some more solid volume as POT bounces up off of support. That will show us that it has the backing to make at least another good run for us.
Volume: 9.797M Avg Volume: 10.967M
BUY POINT: $214.69 Volume=12M Target=$239.95 Stop=$208.78
POSITION: PJN IB - Sept. $210c (54 delta)
http://www.investmenthouse.com/ci/pot.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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us stock market
stock recommendation
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