The Play Of The Day
11-2-99 09:02 EST
Good Morning Stock Fans!
Today's Play's of The Day are: Pacific Internet (NASDAQ:PCNTF) Internet Initative (NASDAQ:IIJI)
Stock Fans! Merrill Lynch has upgraded shares of (NASDAQ:CHINA) this morning. In the past when we have seen (NASDAQ:CHINA) make nice runs. It has spurred on other less known stocks in the same geographic area of the world to see solid moves. Me always being one to examine what happened in the past, and use it to give me a good gauge on the future. If history repeats itself. Investors shouldn't take long to get on board of these other 2 plays that seem to always run off good news for (NASDAQ:CHINA)
Special Note: I am going to buy both of these plays off the open today. They may have a little more risk on the onset but they are already seeing action on the buy side in pre-market.
KEY INDICATORS: (NASDAQ:PCNTF)
Buy Area: of the open OR: $30.93750- $31.6250
Sell Stop: $2.00 from where bought
TARGET: $39.00 plus today!
Type of trade: Daytrade
KEY INDICATORS: (NASDAQ:IIJI)
Buy Area: Off the open OR: $51.1250-$52.93750
Sell Stop: $48.00
BONUS PLAY: (NASDAQ:MSGI)
Stock Fans! This is one of my old favorites. It is the top play of all time here at the new BIGPLAYSTOCKS.com. Earlier this year in an about a 30 day move it went from $6.6250- $60.00! (End of Feb. 1999- April 13, 1999)
However since that time it has been hammered it went all the way under $11.00 a share in late August as it looked like it might never come back. Not so fast this stock has major backing with CMGI. It even stole some CMGI top brass. It is in the same type of field as (NASDAQ:TFSM) and (NASDAQ:DCLK) are.
Some of the message boards across the Internet had (NASDAQ:MSGI) up yesterday over $6.00 on huge volume of over 7 million. What made this stock pop yesterday mid morning was a CNBC guest analysts saying it had inside buying as it reached its lows. It also may be a take over target. Perhaps CMGI or maybe a (NASDAQ:TFSM) would love to add this stock to there team. Whatever it maybe (NASDAQ:MSGI) should enjoy another move to the upside today.
I am looking for it to "gap up" on open then fall back before it goes higher.
Buy Area: $14.8750- $15.43750
Sell Stop: $14.3750
TARGET: $19.8750- $21.18750 plus
TIME FRAME: 1 to 3 days
Type of trade: swing trade
As a daytrade: look for 2 points today or TARGET: $17.75-$19.00
STOCK TO WATCH: (NASDAQ:ICCI)
This stock had been hammered as it had gap down opens not once in October but 2 times! It was trading in a quite tight trading range of on or just off of $30.00 a share as recent as October 12, 1999.
However since then it was blasted to go as low as $23.31250 a place where it would find a double bottom. It never went any lower then that. Since then it has made a nice move up out of the doldrums to move up yesterday, and go as high as $23.50 a place where it closed.
This stock has still got some room left as it now looks to have great support in the form of a double bottom. It therefore has more REWARD then RISK involved with it. I like the move it made yesterday going up almost $1.00. This solid "Cable Guy!" play an IPO from mid July 1999 shoud make its way back up to the high 20's again soon.
Buy Area: $23.1250-$23.3750
Sell Stop: $23.1250
Time Frame: 1 to 7 days
Type of trade: swing trade
As a daytrade: look for $1.50 today
What to Watch: VOLUME- 800k to 1 mill would bode well.
TO ALL DAYTRADERS! I started a new feature yesterday called stocks on my screen. I did it because I often get asked in my LIVE TRADING ROOM. "What stocks our on your screen" Well now all of you will know what I will be looking at right off the open. Always one to give you what you want I hope you enjoy this new added feature- SJ
STOCKS ON MY SCREEN Today!
SPYG (short play perhaps)
DBCC (known to make runs in November)
MAKE SURE YOU ARE ON AUTO RENEW:
The prices are going up soon as I am looking to bring you all more features and added benefits you all want!
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Have a great day!
More to come...