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The Play Of The Day
August 17, 2000
08:59 AM EST.
Good Morning Stock Fans!
NASDAQ RECAP: August 16, 2000:
Last: 3861.20
High: 3914.84
Low: 3844.17
Open: 3878.58
NASDAQ OUTLOOK TODAY:
Stock Fans, The NASDAQ is looking like it will open down today near 3844.00 or so perhaps slightly under yesterday's low. The level it must hold to have a shot today to get back to 3900.00 plus is 3830.00 this level has held for over 5 days now and was the hurdle that served as the NASDAQ's reading to launch it to 3936.00 its current 10 day high last week. With the index unable to follow through getting over 3900.00 to as high as 3914.00, less then 25.00 points away from 3936.00 a level if achieved could cause the NASDAQ to set up for a 4289.00 re visit was to much for the index to find as sellers came in. Perhaps more good news will be needed to send the index to 3936.00 and beyond. That could come in the form of No Rate hike next week when the FED meets on August 22, 2000, to decide interest rates again. It could also be August doldrums ahead of a big pop coming in mid September October November of 2000.
Today 3830.00 is crucial to hold. If it doesn't hold 3830.00 then I will SHORT this index to just over 3700.00 at 3721.00 today. The index looks toppy and tired and the likes of AMAT a huge runner of late looks like even it has topped out.
NASDAQ KEY INDICATORS TODAY:
Resistance: 3888.00 (first level) then 3914.00 yesterday'sa high then 3936.00
current 10 day high
Support: 3830.00
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Today's Play of The Day is: EMLX
I have played this one several times over the past 2 month or so calling it ahead of blow out earnings when it had almost achieved a 200 day low (200 day low 39.00 5/24/00) at 47.50 2 weeks ago. On the call the next day it rocketed to 72.00 as it exploded on massive volume as numbers were truly blow out. The fact of the matter is EMLX is a solid stock way off it year high achieved in March of north of 200.00 (225.00 3/7/00) However it is currently up to much to fast on lower volume and it has a top achieved in its 60 day range of 76.00. It was unable to break 76.00 as the NASDAQ surged to its current 60 day high at 4289.00 and looked to be shorted to set up its fall to under 50.00. EMLX still also has a massive gap up to fill in at 50.00 or so as well as its current 10 day low is 58.00. To go from 58.00 to 74.1250 off the open yesterday on only 102,000 shares then be unable to break 74.50 all day on the remaining 1.1 million plus shares would seem this one may see 76.00 but that's about it for now.
KEY INDICATORS: EMLX (SHORT)
Sell Short Area: 75.50-75.8750
BUY Stop: 76.6250 ( If it breaks 77.00 I go long as it could run to 80.00 on a squeeze or break out!)
1 DAY TARGET: 69.50-67.8750
1-3 DAY TARGET: 66.50-65.00
15 DAY TARGET: 58.00 perhaps under
Time Frame: Targets time frames listed above
Type of Trade: daytrade/ swing trade
BONUS PLAY #1 Flextronics International Ltd. (NasdaqNM: FLEX)
Flextronics International Ltd. provides advanced electronics manufacturing services to original equipment manufacturers, or OEMs, primarily in the telecommunications, networking, consumer electronics and computer industries. The Company provides customers with the opportunity to outsource on a global basis, a complete product where the Company takes responsibility for engineering, supply chain management, assembly, integration, test and logistics management. The Company provides complete product design services, including electrical and mechanical, circuit and layout, radio frequency and test development engineering services. The Company's customers consist of a select group of OEMs primarily in the telecommunications and networking, consumer electronics and computer industries including Cisco, Ericsson, Hewlett-Packard, Lucent, Microsoft, Motorola, Nokia, Palm Computing and Philips, among others.
Stock Fans we have played this many times before successfully. Flextronics has consistently grown sales and earnings over the last 4 quarters. They are in the top 30 fastest growing Nasdaq stocks with a growth rate of 94%. Playing the charts and hoping that this mornings dip provides us with a solid entry.
KEY INDICATORS: FLEX
Buy Area:$77.00 to $78.00
Stop:$74.10
TARGET:$85.80
Time Frame: 2 to 5 days
Type of Trade: Swing Trade
Daytrade for $.50 - $1.00 point scalps. Avg. daily price range $4.11
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PRO TRADER SAGO'S BONUS PLAY'S:
BONUS PLAY #1 Kopin Corporation (NasdaqNM: KOPN)
Kopin Corporation is a developer and manufacturer of advanced semiconductor materials and miniature flat panel displays. The Company uses its proprietary technology to design, manufacture, and market products used in highly demanding wireless communications and high-resolution portable consumer electronics applications. The Company produces two types of high performance components: heterojunction bipolar transistor wafers (HBT transistor wafers); and its CyberDisplay products. The Company's HBT transistor wafer product is a customer specific array of vertically oriented transistors that its customers use primarily to produce high performance integrated circuits for wireless communications products. The Company's CyberDisplay products are miniature, high performance, high resolution, low cost displays well suited for high resolution, high information content applications.
The company makes specialized gallium arsenide (GaAs, an alternative to silicon) wafers with transistors engineered onto the surface vertically (horizontal is the industry norm). Companies such as Conexant (about half of sales; formerly Rockwell's chip unit), Hewlett-Packard, and Siemens use the pricier but smaller and faster vertically engineered GaAs wafers to manufacture ICs for telecom and networking products. Kopin also makes the tiny CyberDisplay brand of LCDs used by Motorola, Panasonic, and others in digital phones, pagers, and video cameras. US customers account for about 65% of sales. Kopin owns 65% of South Korean GaAs optoelectronics maker Kowon Technology
http://biz.yahoo.com/bw/000815/ma_kopin.html
Kopin Corporation Ships One-Millionth CyberDisplay
Stock Fans this is one hot stock! It blasted off last week when it reported excellent earnings. It is easy to see why this Company is going to grow. They have 2% debt This stocks growth estimates for 2000 is 1000%. The weekly chart has just turned up and the 60 minute is in the oversold level
KEY INDICATORS: KOPN
Buy Area:$26.85 to $27.20
Stop:$26.00
TARGET:$29.376
Time Frame: 2 to 5 days
Type of Trade: Swing Trade
Daytrade for $.50 - $ .75 point scalps. Avg. daily price range $2.58
BONUS PLAY # 2 Advanced Micro Devices Inc (NYSE: AMD)
Advanced Micro Devices Inc. is a worldwide semiconductor manufacturer. The Company's products include a wide variety of industry-standard integrated circuits used in product applications such as telecommunications equipment, data and network communications equipment, consumer electronics, personal computers and workstations. In 1999, the Company participated in all three technology areas within the digital IC market, microprocessors, memory circuits and logic circuits, through its product groups comprised of Computation Products Group, Memory Group, Communications Group and the Company's recently sold programmable logic subsidiary, Vantis Corporation.
Stock Fans Advanced Micro has bounced off of lower support. They have a PE of 31 compared to INTC at 46. They have a solid track record of earnings and sales. This is a split play as much as a chart play. Advanced Micro splits 2 for 1 on 8/22. The weekly chart has turned up, the daily is up and waiting just a tad on the hourly chart for an entry.
Key Indicators: AMD
Buy Area:$64.75 to $65.50
Stop:$62.88
TARGET:$70.74
Time Frame: 2 to 4 days
Type of Trade: Swing Trade
Daytrade for $.50 - $1.00 point scalps. Avg. daily price range $5.01
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PRO OPTIONS TRADER MATEO'S OPTION PLAY:
Analog Devices, Inc. (NYSE:ADI)
Analog Devices, Inc. is engaged in the design, manufacture and marketing of high-performance analog, mixed-signal and digital signal processing integrated circuits (ICs). The Company's broad line of high-performance ICs incorporate analog, mixed-signal and digital signal processing technologies that address a wide range of real-world signal processing applications. The Company has a generic list of approximately 2,000 products. Many of the Company's products are proprietary, while equivalents to other products are available from a limited number of other suppliers. The Company also designs, manufactures, and markets a range of assembled products.
Anyone want some profits????? Well, if you've been in ADI for the last 7 trading sessions you are sitting on about 34 points of profit!!! All indicators are now heavily overbought. However, if ADI retraces, it could easily continue it's advance. So here is how I will play this one. If ADI gaps up or moves up from unchanged in the morning I will short it and buys Sept. puts for an expected substantial bout of profit taking. But, if ADI retraces this morning on the close, expect it to bounce nicely and perhaps challenge it's 52 week high of 100. Stock can remain overbought for some time if they make small retraces which is actually very bullish. But we did well on our GS play this week, although we had to give it 2 days. The same may happen with ADI today. It may trade sideways for today's session or even slightly up.
September 90 puts ADI - AKI UR look for entry below 4.5 - 5
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STOCKS ON OUR SCREENS TODAY:
1. PRSF- 54.25 looks to be support. 63.00 could come on a break out
2. AMAT- Like a 76.00-75.00 retrace.
3. JDSU- very toppy low volume test 117.00 and if NASDAQ loses 3830.00 it could test 115.50 where its a buy for a 119.8750 bounce.
4. ASYS-big time % gainer! MASSIVE SMALL FLOAT 8% instution owned. only 2.1 million shares outstanding. Caution here. I sold 1000 of my shares bought into close at 9.81 at an even 14.00 today as It could see 20.00 but just as easily drop to 11.00 in a hurry. Its one I proably stay away today. Shorting this is to risky and almost impossible to do with such low supply.
5. EBAY- before 55.00 I like 62.00 to be seen
6. AOL- broke out over 55.00 63.00 is current 30 day high it could make a 61.00 move if it stays over 54.00
7. EFNT- 44.50 is a great buy area as it should hold this one has found bottom most likely
8. MCTR -disaster of the day! 15.50 held now 16.50 It needs 18.81 bad its one to not fool with it loses 16.00 dump it and move on
9. YHOO- 139.00 is resistance even on upgrade
10. MRVC- 66.00 looks to be top 72.00 is a good short in the range.
11. SSTI- 23.50 support. It loses it back to 22.00 fast
12. LPTH- 35.00 solid looks ok
13. NAVI-interesting continue to watch.
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Have a great day!
More to come.........
Stock Jock!
and BigPlayStocks.com TEAM OF PRO TRADERS!
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