The Play Of The Day
December 14, 1999
Good Morning Stock Fans!
Today's Play of The Day is: E-Stamp.com (NASDAQ:ESTM)
E-Stamp Corporation provides an Internet postage service that enables users to purchase, download and print postage directly from their personal computers onto envelopes, labels or documents using standard laser or inkjet printers
Stock Fans, E-Stamp has formed alliances with Microsoft Office and is linked in the Microsoft Office web site. E-Stamp has sold off and looks great to bounce here. I am licking my E-Stamp at the potential this has!
KEY INDICATORS (NASDAQ:ESTM)
Buy Area: $29.60 to $29.00
TARGET: $32.56 to $34.04
Time Frame: 2-10 trading days
Type of Trade: Swing Trade
BONUS PLAY #1:
Marimba is a leading provider of Internet-based software management solutions that enable companies to expand their market reach, streamline business processes and strengthen relationships with customers, business partners and employees.
Marimba's Castanet product family provides an efficient and reliable infrastructure by which enterprises can distribute, update and manage applications and related data over corporate intranets, extranets and the Internet.
Marimba (NASDAQ:MRBA) just 10 short trading days ago was trading over $42.00 a share. The stock since that time has sold off on LESS volume and dropped all the way under $35.00 where it found good support. The stock having had a solid "bounce" off that $35.00 area, a few days ago made a nice move yesterday on increased volume that took it back as high as $38.75 before it closed at $35.3750, considerably off its highs of the day as some late day healthy NASDAQ profit taking gave way to most its gains. The late day sell of on shares of (NASDAQ:MRBA) was a bit over emphasized as it should not have dropped that fast and looks very good to get back that high today.
The stock of (NASDAQ:MRBA) in many ways has been a bit of a disappointment as many analysts have come out over the past 4 to 5 months and said some good things about this stock. It looks as if it has LOW RISK here with support now above $35.00. This stock looks very much like wants to find the 50's sooner then later and looks very good as a stock to hold until about Christmas Eve when it could very well be a $50.00 stock.
Buy Area: $35.00-$36.75
Sell Stop: $34.6250
Time Frame: 9 days
Type of Trade: Swing Trade
As a Daytrade: It could find $39.93750 today
BONUS PLAY #2 ONSALE/Egghead Software.com (NASDAQ:EGGS)
Egghead.com (NASDAQ:EGGS) is a leading Internet retailer of new and surplus computer products, consumer electronics, sporting goods, and vacation packages. Through its auction site - Onsale.com - the company offers bargains on excess and closeout goods and services. Egghead.com (NASDAQ:EGGS) combines broad selection, low prices, and excellent service to provide an outstanding online shopping experience for businesses and consumers. Egghead.com (NASDAQ:EGGS) is located on the Internet at www.egghead.com (NASDAQ:EGGS).
The merger is finally complete involving Egghead Software and Onsale. We don't think changing the symbol for 10 days to (EGGSD) was not a bright move by the two companies involved. However we do agree the move was very confusing and adversely effected the stock causing enough confusion to see the stock be oversold.
We thing (NASDAQ:EGGS) still even after as nice move yesterday remains oversold. It managed to close near its high of the day when the NASDAQ experienced some late profit taking.
Media Metrix the market leader in providing information on traffic, page views time spent on sites ranks (NASDAQ:EGGS) in all of the preceding categories. With these strong numbers and with the confusion now ended we at BigPlayStocks.com see this stock as one that should find the 20's relatively soon as the merger looks very much like it is starting to have a positive effect on the now combined companies of Onsale and Egghead Software.
Buy Area: $15.25-$16.3750
Sell Stop: $15.00
Time Frame: 4 days
Type of Trade: Swing Trade
As a Daytrade: It may make $18.50 today next area of resistance. Look for that as a good place to see a small healthy pullback.
"RUN THE OPTIONS!"
The Stock Options we like here are the (NASDAQ:EGGS) Jan $22.50 Option Calls. We also like the Jan 25.00 Option Calls for a smaller position.
STOCK TO WATCH: (NASDAQ:SBAS) "Maybe Oversold"
(NASDAQ:SBAS) Look to us at BigPlayStocks.com that it dropped a bit to much yesterday on the close as it in about 20 mins on no news dropped of a level it had held most of the day at 14.00 and dropped all the way back to exactly retrace Fridays close. It had buyers there. It looks as if it is going to open on the NASDAQ today even lower then where it closed yesterday under $11.00. We like the stock to find its way back to Friday's high of $11.75 right off the open today.
Buy Area: Off Open
Sell Stop: $8.50
Time Frame: By 9:55 AM EST.
Type of Trade: Daytrade
Special Note: Market Makers looked to have stolen this stock and with a TARGET of 38.00 this stock may indeed be one they want to have for a run that could very well take it over it all time high of $15.1250 reached yesterday.
VOLUME is KEY!
STOCKS ON OUR SCREENS TODAY:
LOAX- Big volume yesterday closed at high of day.
SPLT- Big volume yesterday no news closed just off high of day
ONLINE BROKERS- SWS, JOBOH, SIEB, DIR
MAKR - Up over $6.00 yesterday. The stock may see the 40's soon
ATHY- Closed near high of day
ASFD- Hit sell stop but we will buy back today above $16.00
ELY- reached 200 day high yesterday at $15.00
WITC- Alert Email buy yesterday looks great at current levels. had big volume yesterday tight range.
SCOC- Turbo LINUX news maybe near.
CNCX- $31.00 shot this week.
HSAC- looks oversold
SPLN- Stock may want 60's soon.
Have a great day!
More to come....
and BigPlayStocks.com Team of Traders