The Play Of The Day

08-19-99 08:11 EST.

Good Morning Stock Fans!

Today's Play of the Day is Open Market (NASDAQ:OMKT)

Henry Blodget might have come out with his Christmas Basket of Internet e-Commerce stocks. Looks to me like it may have already started what should be a chain reaction of secondary e-Commece Internet Stocks.

One of those Internet Stocks that fits in to that secondary group is most certainly Open Market (NASDAQ:OMKT)

Open Market (NASDAQ:OMKT) has sold off over the past month or so as on 07-19-99 it was in what looks to be from its trading chart a very nice 200 day moving average price of $15.3750 to $16.1250. However over the past few days on less volume it has achieved a low of $12.00 hit not once but instead a "quadruple amount of times. That tell me the Open Market (NASDAQ:OMKT) will go no lower then $12.00 a share. It on the other had like it did because of outlook for a hug Christmas 1998 e-Commerce selling season went as high as $27.00 over the last few days of trading into Thanksgiving 1998 a time last year when many e-Commerce Internet Stocks saw unbelievable highs.

Open Market (NASDAQ:OMKT) had one of the things that I always look for when picking my stocks VOLUME. In fact yesterday it traded well over 1 million shares. Yesterday it traded in a range on all that volume of only $12.00 to $12.43750. One day earlier on 08-16-99 It had only 640,000 shares traded under half the volume it had yesterday and had a bigger trading range of $12.1250 -- $12.75.

What I see here may be accumulation as it traded in a tight trading range yesterday but on 3 times its normal 30 day volume. It could also be setting up to just make a long Christmas 1999 e-Commerce run. In any case with Henry Blodget of (NYSE:MER) coming out with his Holiday Basket of Internet Stocks yesterday it will not take investors long to dust off there old trading charts from last Fall into the Holiday Season of 1998 to realize that there are many Internet e-Commerce Internet Stocks out there and just like last year they look to run.

The last reason to look to play (NASDAQ:OMKT) is because of its down side risk. It is deffintly $12.00. It did not even break $12.00 dollars a share on 08-05-99 a day when most of the Internet Secor was crushed to lows it had not seen since 10-08-98. (NASDAQ:OMKT) Is not a fast mover per say. However it sure looks good here to make it back up to $15.00 or there about real soon and get back in to a trading range it has held for most of 1999.

Buy Area: Off the Open Today
Sell Stop: $11.93750
TARGET: $ 14.8750 to $15.6250 (7 to 10 days)

It looked to me like US Interactive INC (NASDAQ:USIT) debuting on 08-10-99, had some back luck going into public trading on the NASDAQ.
US Interactive INC (NASDAQ:USIT) is an Internet Consulting firm that has just put together an interesting and powerful relationship with (NASDAQ:VIGN). It is also actively pursuing more big name leaders in its market share to create other relationships in the near future.

Yesterday (NASDAQ:USIT) had impressive volume of near 1 million shares trading, and went up over 2 dollars a share. I like it today to open lower. I then like this stock to go higher over the coming days as the Internet IPO market looks to have gotten much better of late and stocks with potential start getting noticed.

Buy Area: $13.75- $14.43750
Sell Stop: $11.75
TARGET: $17.00- $18.00 (2-5 days maybe less)

Stock To Watch:
Sportsline USA. (NASDAQ:SPLN) exploded into the close yesterday as almost all of the Internet Stocks sold off. In fact it went up over 2.00 from RED to GREEN in only 33 mins into yesterday's close.

Looking today it has already had 18,000 shares trade in premarket today. It also had some interesting call volume going into yesterdays close on the Sept 30.00 1999 Call Options.

I will keep a close eye on this one today as it is way off it all time high of over $60.00 in April 1999. It could very well have something big coming soon!

Have a great day!

More to come...

Stock Jock!

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