The Play Of The Day
July 24, 2000
08:59 AM EST.
Good Morning Stock Fans!
NASDAQ OUTLOOK TODAY:
Stock Fans!, I am going keep this simple today, and take a more in depth look on research tomorrow in this section.
Today, The NASDAQ should open higher based on Futures over 4100.00. However I don't see a move of more then 75.00 as 4168.00 should act as resistance. If the NASDAQ breaks 4168.00 I will buy in more as it may go to 4188.00 but that would be absolute to as far as this trader is concerned.
I see the Index dropping back after 2:20 PM EST. Today and then beginning a drop that should take it back down to about 4001.00 as it looks to have a fractional gain today when its all over.
More to come on my NASDAQ Outlook Tomorrow!
NASDAQ KEY INDICATORS TODAY:
30 day High: 4287.00
30 day Low: 3820.00
5 day High: 4287.00
5 day Low: 4047.00
SUPPORT: 3 day Range
RESISTANCE 3 day Range:
Today's Play of The Day is: F5 Networks: (NASDAQ:FFIV)
F5 Networks, Inc. (NASDAQ:FFIV) is one of the leading providers of integrated Internet traffic and content management solutions designed to improve the availability and performance of mission-critical Internet-based servers and applications. The Company's products monitor and manage local and geographically dispersed servers and intelligently direct traffic to the server best able to handle a user's request. The Company's products are designed to help prevent system failure and provide timely responses to user requests and data flow. Its BIG/ip and 3DNS Controllers, when combined with its see/IT Network Manager and global/SITE Controller, help organizations optimize their network server availability and performance and cost-effectively manage their Internet infrastructure. Its solutions are used by organizations that rely on the Internet as a fundamental component of their business
The stock looks like it may have bottomed out at current levels. It sets up well here I beleive for a nice 3-5 day play for a bounce back up to perhaps 55.00-57.00 area. It has strong support in its 10 day range at 43.50. It looks good to hold this and a buy just over 44.00. I will play it as follows:
KEY INDICATORS: FFIV
Buy Area: 44.8750-45.8750
Sell Stop: 42.00
1-3 DAY TARGET: 48.50-49.00
2- 5 DAY TARGET: 52.00-55.00
10 DAY TARGET: 56.00-57.00
Type of Trade: daytrade/ swing trade
PRO TRADER SAGO'S BONUS PLAY'S:
SAGO PLAY #1 Immunex Corporation (NasdaqNM: IMNX)
Immunex Corporation is a biopharmaceutical company that discovers, develops, manufactures and markets innovative therapeutic products for the treatment of human diseases including cancer, infectious diseases and immunological disorders. The Company's major product lines are Enbrel, Leukine, Novantrone and Thioplex. Enbrel is a soluble tumor necrosis factor receptor used to reduce inflammatory activity in patients with moderate to severe rheumatoid arthritis. Leukine is a yeast-derived granulocyte-macrophage colony-stimulating factor that is used to stimulate infection-fighting white blood cells. Novantrone and Thioplex are chemotherapy drugs that are used to treat pain in cancer patients. Immunex is currently developing new products to address ailments such as inflammatory disease, infection, multiple sclerosis, asthma and cancer.
Stock Fans, back in March this was one of Barron's Baby Boomer age plays! I like Immunex as it is one of the more profitable Biomed plays. Earnings last quarter increased by 700% over last year. They consistently have grown earnings and sales. The closing price crossed the sweet spot and the timing indicators look solid for an entry. Looking to catch a dip on the 60 min chart for an entry
Time Frame: 2-5 days
Type of Trade: Swing
Daytrade for $.75 - $1.50 point scalps. Avg. daily price range $4.75
SAGO PLAY # 2 Metricom, Inc (NasdaqNM: MCOM)
Metricom, Inc. is a provider of mobile wireless data access to corporate networks and the Internet. Metricom began offering its commercial service, marketed under the Ricochet brand name, in September 1995. Ricochet service is now available in the San Francisco Bay Area, in the Seattle and Washington D.C. metropolitan areas; parts of Los Angeles and New York; and in certain airports and corporate and university campuses. During 1999, Metricom has focused its efforts on designing and developing its new high-speed service, which is being marketed under the Ricochet brand name, and is being planned for launch during the late summer of 2000. Metricom has designed its new service to meet the needs of the growing number of professionals who require full access to their corporate networks and the Internet while away from the office. Metricom's service also will appeal to consumers who desire high-speed mobile access to the Internet
Stock Fans, Metricom is breaking out of its current trading range on strong volume. Metricom is 65% off of its high. Earnings and sales are nothing to tell Mom about but institutions are all over this. This is a riskier play than most so keep your stops in place.
KEY INDICATORS: MCOM
Buy Area:$37.50 to $38.00
Time Frame: 1 to 2 days
Type of Trade: Swing Trade
Daytrade for $.50 - $.75 point scalps. Avg. daily price range $2.30
STOCKS ON OUR SCREENS TODAY:
1. CMTN - Looks great off Friday's POD Buy Area! Getting more under 86.00
2. MACR- Nice play's on it Friday in LIVE Tr. Room! I love this one off 76-78.25 for a 30 day 104.00 TARGET.
3. STLW- Target 70.00 should roll! Leman sent it Public
4. PALM- Move up 2.00 on open drop back 2.00 BUY!
5. GENU- Should roll TARGET 20.00!
6. JDSU- I like a drop back to 120-118.00 then roll Wed when added to S and P
7. KEYN- 45.00 was bottom what a value!
8. AIRN- Like it here bottomed out
9. TBIO- Watch this recent BIO IPO!
10. WSTL -30.00 -32.00 could be soon.
11. ACCD- Looks good up Friday add on more next 3 days.
12. DLK- Nice alert buy off 20.8750 Now I like 29.001
13. EBAY- Numbers coming.
14. JNIC- Looks great off 58.50
15. FIBR- Oversold due for a bounce.
16. EXDS- Like a bounce back plus 3.50 today then I sell
17. CMRC- Bounce back today.
18. SDS- Like this one will watch.
19. PKTR- It could blow up soon the way it has been trading.
20. WCII- On watch like chart.
Have a great day!
More to come.........
and BigPlayStocks.com TEAM OF PRO TRADERS!
The Stock Jock and BigPlayStocks.com, Inc. are financial information publishers. Information on the www.bigplaystocks.com web site should not be construed as a recommendation to buy or sell stocks. Financial information published on the www.bigplaystocks.com is intended to be an adjunct to your investment research, not a substitute thereof. The Stock Jock and BigPlayStocks.com, Inc. strive to publish accurate and complete financial data, but are not liable for the accuracy of the opinions and research posted on the www.BigPlayStocks.com web site.