The Play Of The Day
10-13-99 08:14 EST.
Good Morning Stock Fans!
Today's Play of The Day is: Ramp Networks (NASDAQ:RAMP)
About Ramp Networks:
Ramp Networks (NASDAQ:RAMP) is a leading provider of Internet access solutions that are specifically designed to enable small businesses and branch offices to participate in the emerging Internet economy. (NASDAQ:RAMP) extensive award-winning WebRamp product family of platforms supports dial-up and broadband access, including ADSL, analog, cable, ISDN and SDSL. More information on (NASDAQ:RAMP) can be found online at www.rampnet.com.
As the NASDAQ market began to sell off (NASDAQ:RAMP) was in the process of bouncing off of $23.06 a share. At that point yesterday it was quite apparent that in any market investors were willing to pay at least 23.06 a share for (NASDAQ:RAMP) As it bounced off this are of support just about double it 52 week and all time low, the volume to the buy side increased and the stock went up over $1.00 breaking back up and over it 100 day moving average. It may have news upcoming or it may just be a play off the bottom on support. Whatever it might be I like shares of (NASDAQ:RAMP) over the next week or so to go higher as it should find it way back up and over $27.00 to $28.00 a share as more volume comes in.
Buy Area: $23.8750- $24.1250
Sell Stop: $23.00
TARGET: $27.1250 - $28.00 (1 to 5 trading days. )
BONUS PLAY: Free Shop (NASDAQ:FSHP)
Free Shop.com (NASDAQ:FSHP) announced this morning that it was in a marketing pact with eBAY (NASDAQ:EBAY). Immediately upon that new Free Shop.com (NASDAQ:FSHP) shot up $1.00 in pre market trading. It is indicated to open at $12.6250- $13.25. It should move up right off the open. I will be looking to buy into shares of this recent beaten down IPO at a limit price of $13.1250. The volume as always a this stock with big news today will be key. I will be looking for shares of Free Shop (NASDAQ:FSHP) to go as high as $16.1250 today, perhaps higher on this news! WATCH THE VOLUME!
Buy Area: $13.00-$13.3750
Sell Stop: $12.43650
TARGET: $15.1250-$16.3750 (1 day .. )
STOCK TO WATCH: Fashion Mall (NASDAQ:FASH)
This stock after being part of a major marketing plan to combat the likes of eBAY (NASDAQ:EBAY) with over 100 other sites went as high as $9.50 earlier this moth. However over the past 2 weeks it had dropped substantially until it found its way to as low as $5.43750 yesterday. It bounced off that level finding tremendous support as well as heavy buying as it went on to trade over 850,000 shares more then 6.5 times its normal 30 day average volume. It may have just been a bottom fish play yesterday as investors cam in taking this stock up off the bottom and pushed it up at one point more then $2.00. However with the amount of volume it saw and the fact that it is a deffiant player in this year ecom Christmas 1999 spree it may be the target of a buy out or upcoming news. Watch this stock off the open today if volume is again present it should go higher.
Have a great day!