The Play Of The Day
06-16-99, 7:24AM EST.
Good Morning Stock Fans!
The CPI number is in and it is less then expected. Upon that news the S&P Futures rallied up from 8.70 to as high as 16.80 right after the news broke. What does this mean? \In my mind it means that the oversold Internet Sector gets a kick start today. It also doesn't hurt to have a key component in the NASDAQ 100 post blow out numbers! ORACLE! Hey, Those Stock Fans! That caught that one on close yesterday when it held support at 25.00 even. You will be rewarded today as ORACLE trades over 30.00 in premarket activity today!
OK, On to the "Play of The Day"
Stock Fans today's Play Of The Day is: Excite @Home NASDAQ:ATHM)
This stock has been hammered, battered, crushed! You get the idea! Believe it or not. Excite @ Home was as high as $198.00 per share as recently as April 13, 1999. Since that time Excite @HOME (NASDAQ:ATHM) has sold on the way down to a low hit several times over the past 2 trading days of $78.00. (NASDAQ:ATHM) defiantly has support right there. With its close yesterday of $80.02 (NASDAQ:ATHM) looks ready to me to jump all over.
Stock Fans! I will look to pick up shares of (NASDAQ:ATHM) right off that $78.00 -$80.3750 price area today.
Sell stop: $77.93750
(NASDAQ:USWB) I watch this one closely Stock Fans! It is now at an all-time
low this year and appears to have found support just a few ticks less then where it closed yesterday. I will look to buy shares of (NASDAQ:USWB) between $20.50- $21.00 a share.
Sell stop: $20.43750
Target: $31.3750 (10 days perhaps sooner)
Stock To Watch:
(NASDAQ:INTC) The "Chips" have been on fire of late. They say that a rally in the "Chips" can't be called a rally unless (NASDAQ:INTC) takes part. Stock Fans, with a positive CPI number (down) (NASDAQ:INTC) changes all of that and gets in the GAME today. It already is trading up almost one in pre-market activity.
(NASDAQ:NTBK) Stock Fans! This one really closed in a flurry yesterday up over $2.00 as it made a late run when the rest of the NASDAQ was pulling back. I will keep a close eye on this one today as I saw no NEWS to explain the move!
THE "STOCK JOCK'S" THEORY ON America Online is right on!
Stock Fans! All I can say is I told you so! I hope you got in on this one yesterday as (NYSE:AOL) bounced very hard right off of $89.50 as I was only missed it low by .1250 not bad! Look for those options to take off in the next few days along with the stock!
Have a great day! See you in my LIVE TRADING ROOM!
More to come...