The Play Of The Day
January 25, 2000
07:45 AM EST.
Good Morning Stock Fans!
CONGRATS WEBTRENDS (NASDAQ:WEBT) PLAYERS
Called at $80.00 on Jan 19, 2000. The stock reported upside numbers yesterday and went as high as 101 in after hours and reported a split. If it loses $96.00 today. We will look to sell as it ran more then $20.00 ahead of numbers. Not bad for 4 days!
4 Day NASDAQ OUTLOOK:
Stock Fans! The NASADAQ went through to areas of intermediate support yesterday. It has now after yesterday's abrupt sell off after being at all time highs we dropped more then 140 points at one point to go all the way down to loose 4,100. Now it looks as if the NASDAQ will test that crucial area of 3,953 down another 143 over the next 4 days. The low today looks to possibly be an intra day support area of 4,019 down after yesterday's close of 4,096.08 another 77.08. If we don't hold that area t then the next level of true support where a triple bottom exists is indeed 3,953. The area we need to get to today if we are not to go lower and test 3,953. Is if we can find a way to get back to 4,171 that would be an increase of 75 today on the NASDAQ and somehow hold that key area on close then we might be able to avoid a more then a 300 point loss of NASDAQ all time highs hit just yesterday.
Stock Fans! If your sea sick with all this, then your not alone. Strap in tight today it could be one heck of a ride. I will be watching all these levels and let you all know via Alert emails and in the Live Trading Room just where in the world we look to go today. Unlike the MSFT popular commercial "Where do you wanna go today!" We have no choice where we are going but we do have KEY INDICATORS that should give us a big advantage over other traders as long as we know the areas of support and resistance.
Today's Play of The Day is: Spire Corporation (NASDAQ:SPIR)
Founded in 1969, Spire Corporation is a leading supplier of equipment for assembling terrestrial photovoltaic modules from solar cells. In addition, Spire Corporation is a leader in the improvement of implantable medical devices through proprietary surface treatments.
Stock Fans! "What a brave new world this indeed is!" With HGSI able to now lay out the entire gene pool leading to perhaps the cure of all comic diseases, along with hand held wireless fully operational PC's, and then add in the incredible idea that we soon could possibly have all of our appliances run over the Internet. It is utterly amazing where we have come in the last 2 years. Imagine what the next 2 years will bring! CSCO already with SUNW has 3 full sized houses in different test area of the USA that are running every aspect of one household from what to set the temperature and air control at to a smart refrigerator that tell an online computer to order new food automatically upon getting low.
The latest craze on NASDAQ stocks now is energy cells. The cultivating of these cells that have been around for a while in some old energy names that now add the one big aspect that has made stocks like AVA and IDA no they aren't named after your favorite 2 aunts. Instead they are energy companies now seen as Internet stocks that could also be like ENE is a B2B business play as we look to now be in a position very soon to sell energy services over the Internet.
So, it is with yesterday's unheard of in the past big runner (NASDAQ:SPIR) The stock pretty much out of nowhere found its way in a hurry to the 9.00 area. Then on CNBC mention late in the day. The stock blew right through an area it could not break on several tries $10.00 as it exploded and went as high as $14.00. However then on a NASDAQ sell off the stock fell back on much less volume to back under 12 at one point. It then near the close found 11.50 again, and low and behold after making the buy on close call in our LIVE Trading Room the stock in after hours exploded to as high as 14.3750 a new all time high before it closed in after hours at $12.3750 on total volume of over 12 million shares.
Today the stock with S&P Futures up more then 6 currently is trading on volume of 13,000 shares at $11.56 about where it closed yesterday. Today in regular market hours. Remember those Like the olden days 1 year ago! We look for the stock to open at over $12.00 then fall back to about $10.6250-$11.1250. This is the area it fell back to after yesterday's CNBC mention that sent it flying. It should test that 10.6250 area today. Then we may see CNBC talk it up again as they seem to be mesmerized about all the energy (Internet Stock) hoopla!
KEY INDICATORS: SPIR
Time Frame: today
Type of Trade: daytrade
BONUS PLAY (NASDAQ :BOIM)
This stock should test the $10.00 area after opening higher today. It looks oversold as it was crushed in yesterdays sell off all the way from 14 down under 10 at one point. $10.00 looks to be the place it has buyers in mass. It looks to be good to find $14.00 again soon.
KEY INDICATORS: BIOM
Time Frame: 1- 3 days
Type of Trade: daytrade/ swing trade
STOCK TO WATCH TODAY: ZMAX Corp (NASDAQ:ZMAX)
Stock Fans! This former Y2K solution company came with earnings yesterday that would make anyone wonder why this company one that had been as high as 20 plus just 2 years prior had dropped to all time lows of $2.3750. It reported earnings yesterday of an increase in revs of 68.9 mill Vs 17.8 million one year ago. It then said it had earnings of more then 67 cents a share Vs last years 7 cents. This company is a low risk play any way you slice it as the company only needs one thing now. "Exposure" It did spike on hardly any volume of 19,000 shares more then 1.00 following the numbers. I like this one a lot as it is at all time lows and again is low risk. It may take several months to get there. However this stock is at very least a $5.00- $6.00 stock.
KEY INDICATORS: ZMAX
Buy Area: On open
Sell Stop: $2.00
Time Frame: 3 months
Type of Trade: Mid Term hold
STOCKS ON OUR SCREENS TODAY:
AOL- has to hold $60.00. 66.00 is break out for 70-75. Otherwise AOL at 60-66 is stuck in trading range.
VRTL- support $17.00
EFAX- May move more b2b play
HOT STOCKS- ENGERY RELATED STOCKS
Have a great day!
More to come...
and BigPlayStocks.com Team of Pro Traders!