The Play Of The Day
08-17-99 08:20 EST.
BREAKING MARKET NEWS:
S&P Futures Down (-0.40) on (NYSE:HP) Earnings lower then expected. Almost unchanged ahead of CPI. 08:30 EST. Consumer Price Index (CPI Report) is: 0.02 July 1999. Inline. 0.03 Core Rate Inline
S&P Futures go to: +6.50 / Settles at .10 then go back up to over +9.00
C.P.I. Report seen as: GOOD today for stocks.
Good Morning Stock Fans!
Today's Play of the Day is: Concentric Networks (NASDAQ:CNCX)
This one has been everything I thought it would be so far! Yes, Stock Fans! With investors still busy buying CNCX Option Calls yesterday THEY EXPIRE IN ONLY 3 DAYS! There still must be more (NASDAQ:CNCX) gains ahead!
In fact the CNCX August 20 ,1999 $30.00 Options Calls (over 130 contracts bought yesterday) I can't ignore the opportunity to again after selling out all (NASDAQ:CNCX) yesterday August 16, 1999 ahead of today's CPI numbers to get back in (NASDAQ:CNCX) Option Calls and of course (NASDAQ:CNCX) stock today.
So with all that in mind I will look to pick up (NASDAQ:CNCX) stock and (NASDAQ:CNCX) $30.00 Option Calls today. Remember Stock Fans! We still have NO NEWS to explain a move that over the last 8 trading days has taken (NASDAQ:CNCX) from as low a$16.81250 to as high as $26.25. That is over 47% Increase in just 8 trading days! AMAZING! OK Here are you key indicators today. Watch the VOLUME!
Buy Area: $23.8750- $24.3750
Sell Stop $22.81250
TARGET: $ 30.00+ ( this week)
"Run The Options!"
CNCX August 20, 1999 $30.00 Call Options
(Symbol:QFX-HF) Last: ASK: $0.31250
TARGET: CNCX Stock over $30.00 (this week)
I am going to look to buy 20 contracts today right off the open
** Remember these options EXPIRE on Friday, August 20, 1999.
However with all those options bough still over $5.00 off Current CNCX stock price.
I can't let what sure looks to be the rest of the (NASDAQ:CNCX) run to pass me by!
Have a great day!
More to come....