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us stock market, trade stock
Beign part 3 of 3
THE PLAYS:
Upside: Some excellent stocks are in excellent position to rally in a market bounce.
Play Date: 07/10/2008
ABMD (Abiomed--$18.48; +0.48; optionable): Medical instruments
http://biz.yahoo.com/p/a/abmd.html
EARNINGS: Mid-August
STATUS: Test 18 day EMA. Broke out from a 6 month base to start June, rallied to 20 and made its first test of that strong move over the past three weeks as the market sold off. Moved back to support at the 18 day EMA (17.95) on light trade, started back up off that level Thursday. Looking for it to continue the breakout move on some stronger trade to give us the entry point.
Volume: 282.577K Avg Volume: 310.453K
BUY POINT: $18.62 Volume=350K Target=$22.57 Stop=$17.32
POSITION: IBU IW - Sept. $17.50c (61 delta) &/or Stock
http://www.investmenthouse.com/cd/abmd.html
Play Date: 07/10/2008
CHK (Chesapeake Energy--$61.58; +3.86; optionable): Natural gas exploration, production
http://biz.yahoo.com/p/c/chk.html
EARNINGS: Early August
STATUS: Test 50 day EMA. CHK held in well but got a bit dicey near the 50 day EMA (59.16). Undercut it, but then Thursday it rebounded and moved back over that level on tremendous volume. Ready to move in as CHK continues the move and looking for a run back up toward the prior high.
Volume: 30.935M Avg Volume: 14.243M
BUY POINT: $61.85 Volume=20M Target=$73.94 Stop=$59.05
POSITION: CHK JL - Oct. $60c (62 delta) &/or Stock
http://www.investmenthouse.com/ci/chk.html
Play Date: 07/10/2008
ENS (Enersys, Inc.--$32.64; +0.74; optionable): Industrial electrical supplies, equipment
http://biz.yahoo.com/p/e/ens.html
EARNINGS: Announced 6-12-08
STATUS: Test 50 day EMA. Nice breakout in May from a 4.5 month cup with handle base and is still in the trend higher after that move, It is currently in a three week test, coming back to the important 50 day EMA (31.23) this past week and moving laterally on low volume above that support. Money flow has turned back up while it is making this lateral move, a very positive sign and anticipating ENS to bounce off the 50 day EMA and follow the money flow higher. Very solid and looking for a new high once more.
Volume: 469.339K Avg Volume: 975.1K
BUY POINT: $33.08 Volume=1.5M Target=$37.95 Stop=$31.11
POSITION: ENS IF - Sept. $30c (70 delta, 136 OI) &/or Stock
http://www.investmenthouse.com/ci/ens.html
Play Date: 07/10/2008
NCR (NCR Corp.--$26.41; -0.21; optionable): ITS software
http://biz.yahoo.com/p/n/ncr.html
EARNINGS: 7-29-08
STATUS: Cup w/handle. Working on a handle within a handle to its 8 month base, tapping the 10 day EMA on the low and rebounding. Showing strong upside volume as it sets up for a new breakout to a new high after this base has set a great foundation for another long run. Strong money flow, excellent 9 to 5 accumulation in the base (9 up price weeks on rising volume to 5 down weeks on rising volume) shows plenty of buying and setting the breakout move. Nice.
Volume: 2.408M Avg Volume: 1.523M
BUY POINT: $27.48 Volume=2.3M Target=$32.95 Stop=$25.89
POSITION: NCR JE - Oct. $25c (68 delta, 171 OI) &/or Stock
http://www.investmenthouse.com/ci/ncr.html
New buy point on current position.
Play Date: 07/10/2008
FLIR (Flir Systems--$42.74; -0.14; optionable): Thermal imaging, infrared camera systems
http://biz.yahoo.com/p/f/flir.html
EARNINGS: 7-24-08
STATUS: Flying plateau. Looking to add some positions as FLIR is setting up for a new break higher with this 6 session lateral move over the 10 day EMA (42). Nice tight flat move on low volume, the calm before the storm, holding back even as money flow moves higher. Ready to move in when it starts higher, showing it is ready for the next run.
Volume: 1.482M Avg Volume: 1.925M
BUY POINT: $43.91 Volume=2.8M Target=$52.75 Stop=$40.97
POSITION: FFQ JH - Oct. $40c (66 delta) &/or Stock
http://www.investmenthouse.com/ci/flir.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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