The Play Of The Day
07-28-99 08:22 AM EST
Digi -Chat is working PERFECTLY NOW! no more lags, freeze up or delays in transmissions. I will be looking for you to stop in!
Durable Good orders: June up 0.3%
Better then expected Good News for Stocks today
However Fair Value is 7.00
We are now at 3.00 on the S&P Futures
Stocks look to open a little lower today
Good Morning Stock Fans!
Today's Play of The Day is: Visual Data (NASDAQ:VDAT)
Stock Fans! Visual Data (NASDAQ:VDAT) spent most of yesterday's trading going down to a low it has not seen in over 5 months of just over $13.00 dollars a share. It had volume of almost double its average 30 day volume of 440,000 shares trading yesterday. I really like how well it came back into the close and finished up .25 at $15.25 a share with more then 180,000 of those shares trading in the last 15 minutes of the market day. I like the stock today to pull back, and do what I call "repaint it trading range" That is to say it should pull back to just under $13.3750 and then look real good to buy as it chart and trading characteristics at this point would suggest. This one is still in my estimation way over sold off it high in May have 99.
Buy Area: $13.1250- $13.93750
Sell Stop: $ 13.00 even I doubt very much it breaks that
TARGET: $ 16.00 ( 5 days)
(very little downside risk here!)
Stock To Watch Today.
Today's IPO is the most anticipated Drugstore.com (NASDAQ:DSCM) Stock Fans! Amazon.com (NASDAQ:AMZN) has a 37% stake in this IPO. Drugstore.com has had it price now upped 2 times it was initially supposed to be underwritten at $9.00 to $11.00 a share. It now was underwritten last night for trading to begin today at $18.00 dollars a share. Look for this one to open up over $45.00 dollars a share today. I will be looking for a price to get in (NASDAQ:DSCM) of about 15% to 19% off it opening trade. Look for an email ALERT as well as me to say I am buying it in my LIVE TRADING ROOM today.
Buy Area: 15% to 19% off first public trade.
Sell Stop: 5% lower then where you buy
TARGET: 60.00 plus perhaps today
Float is only 5 million shares. It should move fast
(IPO are risky use caution
(NASDAQ:MYLX) has been bought by IBM not up all that much in pre-market right now just over $10.00 I look for this one to pull back slightly then Fly! I will be looking for $11.3750 on this one as a place to buy!
Blue Fly (NASDAQ:BLFY) Is up on big volume as a major name has invested big $$$ in it. This one has a small float it can fly. I am looking to get in at about $12.00 even. I will be looking for $14.00 even as a fast daytrade play.
AOL is trading up in premarket this morning. I called it correctly yesterday as $98.00 to $99.00 for its low. It stopped right about there yesterday closing just over 98.00 when it was all over. AOL by pulling back to that point achieved what is known as a "double bottom" AOL was at it current price exactly on June 29, 1999, midday. Having support at that area as it found yesterday into the close is a very BULLISH sign.
AOL looks "gap up" today as it has traded as high as 101 a share up $3.00. Stock Fans! Wait for AOL to open then it should fall back after it misses $103.00 a share to about $98.00 - $99.00 right there is where you get another chance to buy AOL Calls the AOL August 21, 1999, $105.00 Option Calls (AOO HA). I am looking for AOL to get upgrades and track to $107.00 plus by this weeks end.
Ok that should do it
Have a great day...
More to come ....