The Play Of The Day
08-18-99 08:22 EST.
LIVE TRADING ROOM correct calls by the Stock Jock!
- Predicts a RALLY is coming at 15:10 EST as he sees Long Bond Yield Drop to 6.01%
- Predicts 20 mins ahead of the release of Dells (NASDAQ:DELL) that they will beat whisper number of $0.18 by 1 and come in $0.19
Good Morning Stock Fans!
We are off to a great week so lets see if we can keep it going today!
Today's Play of The Day is Rhythm Net Connections (NASDAQ:RTHM)
I am not going to get to deep into this stock right here as I did a full profile on it back on June 28, 1999. That was the day when I in fact featured all of my "Cable Guys!" That call turned out to be a "BIG!" one as only 14 trading day later. 7 Cable Guys with (NASDAQ:RTHM) included would skyrocket to go up more then 60% as group. (refer to 6-28-99 "Play of The Day!" archive for more information on (NASDAQ:RTHM)
(NASDAQ:RTHM) since it had its second offering of stock on August 10, 1999, has had one of the things I really look at close in my stock picking VOLUME! as the float was increased by over 50%.
With the recent sell off of most of the Cable Guy related stocks in late July 1999. (NASDAQ:RTHM) was hammered off of over $60.00 all the way under $30.00 until yesterday when it EXPLODED up over $5.00. With an obvious bottom reached on (NASDAQ:RTHM) yesterday, and knowing how fast (NASDAQ:RTHM) can go up. I am going to look today to get shares of (NASDAQ:RTHM) as it "Repaints" is range and pulls back to what looks to be just over $32.00 dollars a share. I am looking for (NASDAQ:RTHM) to go right back up and over $45.00 dollars a share of the next 10 days or sooner!
Buy Area: $32.1250
Sell Stop $29.93750
TARGET: $40.00 to $45.68750 (7- 10 days)
Holiday Basket of Internet Stocks!
Maria Bartraoma of CNBC is reporting today that Henry Blogett over at (NASDAQ:MER) is seeing a bit of Christmas Green! Today as he comes out with what he is calling his:
Holiday Basket of Internet Stocks. They are:
AMZN, ATHM, AOL, INKT, BNBN, EYTS, LCOS, YHOO
Stock Fans, watch all of these stocks today. I will not be looking to buy any of these on the open today. In fact I may not even look to get any of them today. Instead I will wait for weakness to occur in later in the week and pick up shares as they should fall back on initial "Pops!" to the upside leaving a good opportunity to get in on them to store away safely in my Christmas Stock-ing!
I have profiled (NASDAQ:BNBN) and put what was some of you said "Really?" price TARGET on it of over $70.00 to even $100.00 dollars a share. I still like those as TARGETS on (NASDAQ:BNBN) by the 2 week of Dec 1999.
However, remember that (NASDAQ:BNBN) is a stock that has a very large outstanding "float" (amount of outstanding shares) With that in mind look for (NASDAQ:BNBN) not to run like a low float Internet Stock that many of you are used to.
BONUS PLAY: Barnes And Noble (NYSE:BKS)
The other way to play (NASDAQ:BNBN) is to buy up share of Barnes and Noble (NYSE:BKS) I look for Investors today to be so excited about (NASDAQ:BNBN) that they will forget all about Barnes and Noble (NYSE:BKS).
With that in mind today I will be looking to sneak in on shares of Barnes and Noble (NYSE:BKS) when I am hoping all the other Investors are busy buying up shares of (NASDAQ:BNBN). Remember Barnes and Noble (NYSE:BKS) upon mention of taking (NASDAQ:BNBN) public. Went up over $14.00 plus dollars to over $45.00 dollars a share last year.
Buy Area: $22.1250- 22.6250
Sell Stop $19.93750
TARGET $ 44.00+( 2 week of Dec 1999)
Another great way to play those upcoming Christmas gains of (NASDAQ:BNBN) is to Run The Options on (NYSE:BKS)
Jan 2000 1999 (NYSE:BKS) $35.00 Call Option's
(Symbol:BKS-AG) Last Ask : $.075
STOCK JOCK DEAD ON with DELL!
Those DELL Sept 1999 45.00 and 50.00 Option Calls looks great today! Look for an update later as a sell target on the DELL $45.00's
More to come....
Have a great day!