The Play Of The Day
November 24, 1999 08:37 EST.
Good Morning Stock Fans!
SPECIAL NOTE TODAY: Today as you all know is the biggest travel day of the year. We may very well see lower volume today. Last year today we saw huge volume on e-Commerce Christmas Stocks. Today's market at least on the onset doesn't look to rally right off the open, but watch those e-Commerce Christmas Stocks all day long!
USE CAUTION: LOWER VOLUME MEANS SMALLER RANGES TO TRADE IN. ALWAYS USE SELL STOPS.
Stocks non-related to e-Commerce Christmas Sell Off
Yesterday the NASDAQ took a breather as it fell back, but held 3,300. The Big Cap Internet Stocks the can be considered "Primary" e-Commerce Christmas Stock plays enjoyed nice gains yesterday lead by perhaps the company that could benefit the most from this years big online Christmas Selling season the Online Giant America Online (NYSE:AOL) closed near it high just under $85.00 . The likes of (NASDAQ:EBAY) the second most trafficked web site for holidays exploded for $16.00 plus, and the top traffic site (NASDAQ:AMZN) broke out and closed just shy of $82.00.
What I am looking for today is the "Secondary" e-Commerce Christmas Stocks to make a move like they did one year ago this week. The first part of the equation looks to be setting up well with the likes of (NYSE:AOL), (NASDAQ:EBAY), (NASDAQ:AMZN) leading the way. We should soon see the Secondary (example TOP 25 e-Commerce Christmas Stocks) names make their moves as the volume on the vast majority of these stock moves up.
TOP 25 e-Commerce Christmas Stocks Continue to see increased VOLUME!
We will continue to watch the BIGPLAYSTOCKS.com TOP 25 e-Commerce Christmas Stocks today. Look for an update of this past weeks move going up this morning at the following web address.
Look for the NASDAQ big cap Techs to lose volume the rest of this week. Just like we saw yesterday those stocks that have anything to do with e-Commerce Christmas should see increased "popularity" or in this market VOLUME.
AOL, AMZN , EBAY -All enjoyed increases in volume yesterday as well as stock price as they looked very solid. More of the same should continue the rest of this week as we predicted.
Today's Play of The Day is: Healtheon / Webmd Corporation (NASDAQ:HLTH)
Healtheon / Webmd Corporation had tremendous volume yesterday. This kind of volume on a down day and only a buy rating initiated by First Union Securities? Hmmm. Healtheon / Webmd technical indicators look ripe for a run. Healtheon/WebMD Corp. has designed and developed an Internet-based information and transaction platform that facilitates and streamlines interactions among the myriad participants in the healthcare industry.
Buy Area: $39.50- $40.00
TARGET: $43.85 to 46.00
Time Frame: 2 to 7 days
Type of Trade: Swing Trade
BONUS PLAY: Premiere Technologies (NASDAQ:PTEK)
(NASDAQ:PTEK) plays off of today's "Play of The Day!" (NASDAQ:HLTH) well. It owns a majority share in (NASDAQ:HLTH). This past May 1999 when (NASDAQ:HLTH) exploded off of getting WebMD ahead of it going public (NASDAQ:PTEK) ran up a big form the $9.00 to over $20.00 plus in less then 10 trading days.
(NASDAQ:PTEK) exploded in mid day yesterday as this $6.00 stock saw volume of over 2 million shares and a gain on close of nearly $1.00 it should continue with more of the same today. The KEY INDICATOR on this one today besides as always volume is the volume and price increase on (NASDAQ:HLTH). If (NASDAQ:HLTH) runs then (NASDAQ:PTEK) follows.
Type of Trade: Daytrade
#2 BONUS PLAY: Value America (NASDAQ:VUSA)
This stock is yet another e-Commerce Christmas play. It saw explosive volume yesterday of 2.2 million almost 4 times its normal 30 day average of 569,000. The stock increase in volume can be directly related to CNBC.com featuring on its website as an excellent stock to own for this Christmas.
The CNBC link is: #commentary/comentary_full_story_stocks.asp?StoryID=9388
KEY INDICATORS: (NASDAQ:VUSA)
Buy Area: $14.64-$14.75
Sell Stop: $13.75
Type of Trade: Daytrade
Type of Trade:
As a Daytrade: Look for $2.1250 today
SUPPORT AREA DEFINED @ $77.00 : (NYSE:AOL) & (NASDAQ:AMZN)
Both of these stocks have bounced strong off of $77.00. They are great buys at those prices or just under them it makes sense to take profits and sell.
AOL- strong support @ $76.94
AMZN - strong support @ $76.94
STOCKS ON OUR SCREENS TODAY:
TOP 25 e-Commerce Christmas Stocks
SUNW - Prudential raises target to $150.00 (close on 11/23/99 @127.1250)
VVTV- new all time high (Value Vision heating up for Xmas)
Have a Safe and Happy Thanksgiving!
More to come....
and BIGPLAYSTOCKS.com Team of Traders.