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The Play Of The Day
Thursday, December 16, 1999
6:22 AM EST.
ATTENTION ALL TRADERS: Look for 1 stock Play in tomorrow's "Play of The Day!" edition as we feel tomorrow is a good day to take some cash off the table and raise it for next weeks trading.
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Good Morning Stock Fans!
"3rd TIMES THE CHARM!"
Today's Play of The Day is: Ashford.com (NASDAQ:ASFD)
It has to be! I can't ignore it today! I know we have called this one and taken small losses on it now 2 times already over the past few days. However after what I saw yesterday in the last 10 mins of trading on (NASDAQ:ASFD) and the fast that it has now retraced all the way back down to $14.25 retracing and filling in its recent trading graph ( usually a very bullish sign) exactly all of its gains. Here is why just has to be Today's Feature Play The "Play of The Day!"
Ashford.com (NASDAQ:ASFD) is a leading online retailer of luxury good items sold via its website located at www.ashford.com.
Late in the day on Friday, November 26, 1999, (NASDAQ:ASFD) would see much more volume then its daily average would indicate as it would have big blocks of shares go through the stock on the buy side only 20 minutes ahead of the close. The stock would trade that day over 300,000 shares with over 40% of them just a few minutes prior to close. I would spot this move and alert traders trading in my LIVE TRADING ROOM and my TEAM of professional traders in time to buy into the stock ahead of the close in time for what looked to be a big move at just under where it would end its November 26, 1999, trading session at $14.25 up over $1.25.
What I had seen on November 26, 1999, did indeed indicate big news was coming witch in turn spelled big returns. The stock would open the next trading day November 29, 1999, at over $31.00 a share up over $16.00 more then double where it had closed just one market day earlier. The news that caused this incredible over the weekend spike was that the prominent Wallstreet brokerage firm Goldman Sachs (NYSE:GS) was adding it to its recommend list starting, and starting it as a strong buy ranking it with the likes of the very well known Amazon.com. (NASDAQ:AMZN) on the basis that online luxury good sales were going to be very HOT this Christmas. It certainly helped (NASDAQ:ASFD) cause when this major news effecting the stock was announced on the extremely popular CNBC pre market show "Squawk Box." That is all it would take for this stock to be off to the races as it would explode in pre market trading up over $15.00 and when the day was done trade over 7 million shares going as high as $35.00 at one point before it would fall back and close in the mid 20's.
A few days later there would be news again with Asford.com (NASDAQ:ASFD) as it would announce that Amazon.com (NASDAQ:AMZN) was taking a 17% stake in the company again it would find the mid 20's going as high as $25.50 before it would close on over 4 million shares of volume at just under $20.00 a share.
Over the next few weeks shares of (NASDAQ:ASFD) would sell off on less volume until yesterday when shares of (NASDAQ:ASFD) would open all the way back down where they closed on November 24, 1999, that trading day prior to the Goldman Sachs news right at $14.25. With its retrace off its all time high of $35.00 of over $20.00 dollars complete shares of (NASDAQ:ASFD) would then trade about 300,000 shares on moderate volume, and go as high as $15.00 dollars by early afternoon yesterday. However at about 3:50 PM est, just 10 minutes ahead of the close yesterday's. Just as it did on Friday, November 24, 1999, the stock would again see huge blocks of 100,000 shares each in size go through the stock as it would trade over 280,000 shares in the last 10 mins. more then 40% of its total trading volume of 585,000. When it was all over yesterday shares of (NASDAQ:ASFD) would close at $14.8750 down $0.075 on the session
This stock looks as if it may be ready to make a similar move like it did when it went
from $14.25 to $31.00 in less then one day. It could very possibly have news that may send the shares skyward again. One thing is for certain to buy the stock at current levels is LOW RISK as it has solid support at $14.25. The company is just as good perhaps better then it was just 3 weeks ago as it still is slated to report big gains in the coming quarter. It could perhaps give us a preview of what the numbers are supposed to be due in mid January anytime now. With Goldman Sachs still having a strong buy rating on this stock, and with (NASDAQ:AMZN) liking it enough to take a 17% stake in it. It sure looks inviting here to quite possibly repeat its recent history that caused it to double in value over night. After all on thing we do know those blocks of 100,000 in size buy orders did not go through in anticipation of shorting the stock. We must assume they know more then we do to buy over 2.5 million dollars worth of it at a 15 day low
(* SPECIAL NOTE: At the time of this Play being written at 5:00 am est. On Thursday, December 16, 1999, there was NO NEWS to report on (NASDAQ:ASFD) that would effect today's opening price.)
KEY INDICATORS:
Buy Area: $14.50-$16.75
Sell Stop: $14.00
TARGET: $19.8750-$25.50 (could be more!)
Time Frame: 2 to 10 days maybe sooner
Type of Trade: Swing Trade
BONUS PLAY #1 Telecorp PCS Inc. (NASDAQ:TLCP)
Telecorp PCS Inc. is the largest AT&T Wireless affiliate in the United States, with licenses covering approximately 16.5 million people. TLCP currently has more than 100,000 subscribers in selected markets in the south-central and northeast U.S. and in Puerto Rico.
Stock Fans here is a recent IPO that is coming out of its Quiet Period Today. This company's stock has not ran and I believe it is due to the market sentiment. But lets face it, this is a growing Wireless Business that will mushroom upwards into the next millennium! They also have $80 million in cash. I am looking to see this stock move in the next couple days.
KEY INDICATORS (NASDAQ:TLCP)
Buy Area: $36.50 to $37.15
Sell Stop:$34.46
TARGET: $38.15 to 42.72
Time Frame: 2-5 trading days
Type of Trade: Swing Trade
Bonus Play # 2 Zany Brainy, Inc. (NASDAQ:ZANY)
Zany Brainy, Inc. is a specialty retailer of high quality toys, games, books and multimedia products for kids. Stock Fans, you know where I am going with this. Here is a Company whose Book value is $8.71/share. Yes, Book value. Zany is way undervalued and going into its strongest earnings quarter. Zany's closing price crossed it's 10 day moving average and if your a Chinese candle type of person (forget it), it is time to buy!
KEY INDICATORS (NASDAQ:ZANY)
Buy Area: $8.75 to $9.50
Sell Stop:$8.8112
TARGET: $10.45 to $10.93
Time Frame: 2-5 trading days
Type of Trade: Swing Trade
BONUS #3 REPLAY (NASDAQ:IFCI)
This one was called about a week or so ago at about 7.25 a share. Since that time this stock has held over it sell stop and gone as high as 9.00 the past few days on news of a big contract. This stock remains a great play for further gains. So in case anyone has cashed out of this one or missed it the first time at $7.25 the stock looks great today to continue it run higher as now the cat is out of the bag on this great company. We have already spotted similar stocks such as (NASDAQ:DSLN) and (NASDAQ:FIBR) both now trading at over $20.00 and $30.00 a share at under 9.00 respectively. This one could be the same type of value in the next few months.
KEY INDICATORS: (NASDAQ:IFCI)
Buy Area: $8.50-$8.93750
Sell Stop $7.43750
TARGET: $10.50-$13.00
Short Term Time Frame: 2-7 days. Then we will sell 50% of our position and hold the rest until:
Long Term Time Frame: Holding the 50% remainder until it finds $20.00 plus
BONUS PLAY #4 Liquid Audio (NASDAQ:LQID)
The stock saw huge volume yesterday of over 2 million shares over its 30 day average volume of 265,000 shares by a staggering amount. A large majority that volume came near the close on news of having another public offering on its stock. Act TV (NASDAQ:IATV) experienced a similar move in volume and in share price as it announced a second public offering last week. (NASDAQ:IATV) run lasted a few days after the initial news as it ran to new all time highs. (NASDAQ:LQID) may follow a similar path. it may very well pull back some today on the open and then motor higher. All the indicators are pointing to this one going higher. It has been speculated as a buy out target in the past as it offers a very unique service.
KEY INDICATORS (NASDAQ:LQID)
Buy Area: $33.93750-$34.50
Sell Stop: $32.50
TARGET: 40.00 plus
Time Frame: 1 to 3 days
Type of Trade: Swing Trade
OUT OF THE MONEY CALL OPTIONS Razor Fish (NASDAQ:RAZF)
"RUN THE OPTIONS!"
Razor Fish (NASDAQ:RAZF) has several buy recommendations on it as many analysts like the stock a lot at current levels. It is the only publicly traded stock in the world that is in the graphic design business. It portfolio of work is a Who's Who of the Internet website world. It could very well have big plans in store for 2000 as it might just be the company that revamps many web sites and adds (NASDAQ:MACR) vastly becoming more popular FLASH. It trading graph is setting up just like Go2Net's (NASDAQ:GNET) bust out run of more then $11.00 plus that took place yesterday.
With over 185 Call Options bought on the Jan, 2000 95.00 calls options it could very well have a major move in store.
(Symbol:RUFAS)
LATE DAY EMAIL ALERT KEEPING AN EYE ON TODAY: (NASDAQ:HAST)
The stock was spotted by our TEAM of traders at just under 5.00 a share yesterday. This stock normally trades 61,000 shares or less. However yesterday it traded over 400,000 shares and ended up about $1.00 on the day.
It has a similar move in volume and price back at the beginning of this month when it traded over 500,000 shares. It may have had news that was supposed to be released then but wasn't. Yesterday's volume spike and price move could very well indicate that news is coming soon. We will watch its price and volume close today.
e-COMMERCE CHRISTMAS STOCKS HEATING UP AGAIN!
Stock Fans! We are putting all of our e-Commerce Christmas Stocks back on watch today as it looks very much like they are starting another run. We have already seen large volume spikes on CYSP ZANY and EGGS. Any of these companies could come out at anytime and tell us that they are expecting huge numbers for the 4Q on what certainly looks to be record Christmas buying volume. Say Tuned!
Our BigPlayStocks.com TOP 25 e-Commerce Christmas Stock list is located on our website at:
http://www.bigplaystocks.com
STOCK THE HAD INCREASES IN VOLUME AND PRICE NEAR YESTERDAY'S CLOSE.
HYPR- reported record sales following yesterday's close
PMCS
NSATF -came on at the close. Closed at high of the day.
NETE
CDNW
FSHP
NMGC
HM- gold stocks starting to get bigger volume again.
ABX
NPNT
CDN - a great buy under $18.75 today
BRYO
DALN - making its way back in a strong uptrend. That would indicate it was oversold.
UVEW- came on late in day yesterday on big volume
CYSP - Looks strong today perhaps 14.00 by early next week.
OPTV- saw a spike on the close yesterday
TOM - spiked on close as well yesterday
ISEE
YESM
CMGI - great numbers 2 for 1 split 3rd of year 1 share is now 8 in 1999 amazing stock
STOCKS ON OUR SCREENS TODAY:
WGAT
DSLN
ISPD
HSAC
WITC
SWS
IMMU
NETA
JCDA
CPTH
GNET
POPM
SSET
More to come....
Have a great day!
Stock Jock!
and BigPlayStocks.com Team of Traders |