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us stock market, stock recommendation
Begin part 3 of 3
THE PLAYS:
Upside:
Play Date: 07/08/2008
ATHR (Atheros Communications--$32.62; +0.79; optionable): Semiconductor integrated circuits
http://biz.yahoo.com/p/a/athr.html
EARNINGS: 7-28-08
STATUS: Reverse head and shoulders. Coming off a test of the 200 day SMA down at 28, forming the right shoulder to its 8 month base. A quick tap of the 50 day EMA last week to test the move and now a bounce higher on strong volume Tuesday. The integrated circuits are set up quite well (e.g. BRCM). ATHR is a stock that made us a lot of money in 2006 and then in 2007. This base has set a good foundation for it to move up once more and we want to play it and make us some more money.
Volume: 2.168M Avg Volume: 1.606M
BUY POINT: $33.08 Volume=2.4M Target=$39.95 Stop=$30.88
POSITION: QRA IF - Sept. $30c (70 delta) &/or Stock
http://www.investmenthouse.com/ci/athr.html
Play Date: 07/08/2008
CHP (C&D Technologies--$8.36; +0.22; no options): Electrical power storage systems
http://biz.yahoo.com/p/c/chp.html
EARNINGS: Announced 6-5-08
STATUS: Breakout test. Blasted off in early June on earnings, clearing a 19 month base. Bit breakout and this is the first test, using the market selling to come back to near support at the 18 day EMA (8.19) on mostly lower volume. It has been a long downtrend but this last break higher out of the base has broken that trend. After this test we are looking to move in as CHP makes the next break higher and recovers some past glory. Good time to move into this one.
Volume: 425.891K Avg Volume: 303.048K
BUY POINT: $8.54 Volume=455K Target=$10.95 Stop=$7.94
POSITION: - Stock (no option chain)
http://www.investmenthouse.com/cd/chp.html
Play Date: 07/08/2008
MANT (Mantech Intl.--$49.64; +1.85; optionable): National security program software solutions
http://biz.yahoo.com/p/m/mant.html
EARNINGS: 7-30-08
STATUS: Test trendline. MANT has marched up roughly the 90 day SMA (47) this year with 4 tests of the trendline after breakout out form a base in October last year. It has come back to that trendline, touching down at that level to start the month, moving laterally in the selling, and then bouncing Tuesday on rising, average volume. Cleared the 50 day EMA (48.67) on the Tuesday move and looks ready for another bounce higher in its trend. Looking to take that bounce to the bank.
Volume: 238.471K Avg Volume: 219.197K
BUY POINT: $50.22 Volume=329K Target=$57.95 Stop=$47.21
POSITION: UUN KJ - Nov. $50c (51 delta) &/or Stock
http://www.investmenthouse.com/ci/mant.html
Play Date: 07/08/2008
MYGN (Myriad Genetics--$53.47; +1.74; optionable): Diagnostic substances
http://biz.yahoo.com/p/m/mygn.html
EARNINGS: 8-19-08
STATUS: Cup w/handle. Broke out from a 9 month base to start the month, rallied, tested a day during the market selling, then bounced back up Tuesday on strong volume after a quick tap at the 10 day EMA. In one of those sectors the market is liking right now. Nice. Ready to move to a 6 year high. Strong money flow is surging higher ahead of price and MYGN looks determined to follow it higher.
Volume: 3.632M Avg Volume: 1.364M
BUY POINT: $53.94 Volume=1.5M Target=$61.95 Stop=$50.55
POSITION: GSQ KJ - Nov. $50c (65 delta) &/or Stock
http://www.investmenthouse.com/ci/mygn.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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