The Play Of The Day
May 12, 2000
9:17 AM EST
NO PLAY TODAY: Stock Fans!
Please allow 60 mins for 2 range plays to go out to all MEMBERS as it is now to late to re type today's Play's
09:35 AM EST.
RANGE PLAY #1 - Infospace (NASDAQ:INSP)
Infospace should lose $50.00 off the open then fall back as much as it gapped up under its close of $47.3750. INSP looks to be a great range play as it should have buyers at current levels under yesterday's close as much as it gapped up today.
KEY INDICATORS: INSP
Buy Area: $47.8750-$48.93750
Sell Stop: $44.00
TARGET:$52.25 $53.8750
Time Frame: today
Type of Trade: daytrade
RANGE PLAY #2- Amazon (NASDAQ:AMZN) SHORT
AMZN looks exhausted and should pull back as it went higher yesterday on
less volume.
KEY INDICATORS: AMZN (SHORT)
Sell Short Area: $56.8750-$55.50
Buy Stop: $59.00
TARGET: $49.8750-$51.00
RANGE PLAY #3 BRCD
Brocade (NASDAQ:BRCD) (SHORT)
KEY INDICATORS: BRCD SHORT
sell short: $111.00-$110.50
Buy Stop: $115.00
TARGET: $104.50
Time Frame: today
JDSU - UPDATE:
JDSU $90.00 is the top it looks ready to lose $86.00 and then trade $86.00 -$84.00 Shorting more JDSU at $88.50-89.00 looking for a drop under $86.00 a false resistence break on yesterday's close.
KEY POINT TODAY:
The sideline money waiting on the sidelines out of this market. They aren't there waiting to buy higher! Momentum money must follow long term money are the market will have as big a sell off as it just went through. With momentum money in the NASDAQ currently look for it to fall back lose 3,529.00 and then drop under 3,500.00 today!
SJ! |