The Play Of The Day
8.25.99 7:55 AM
Good Morning Stock Fans!
Today's Play of the Day is:BEYOND.com (NASDAQ:BYND)
With most of the NASDAQ related Internet Stocks now well off there lows reached on August 5, 1999. It was very interesting for me to see that (NASDAQ:BYND) Still has yet to come all that much of its low of just under $14.00 dollars a share reached on August 5, 1999.
However (NASDAQ:BYND) since it has sold all the way off of its July high reached on July 23, 1999, of $24.3750 it has sold off on LESS VOLUME and did not break under its IPO price of more then 18 months ago. I really like (NASDAQ:BYND) here as well for the fact that it has been a takeover target in the past. Earlier this year (NASDAQ:YHOO) was rumored to want it. I also like (NASDAQ:BYND) because of its potential. It has been as high as $41.00 a share in the past.
Yesterday's VOLUME on (NASDAQ:BYND) was over 775,000 shares however it traded in a fairly narrow range on that kind of volume between $14.6250 and $16.1250. As I look at it today it already has interest in pre market of over 4,500 shares trading. That under most circumstances is not much VOLUME to speak of. However with the open on the NASDAQ over 90 minutes away that is substantial on a stock that has proved it self in the past as a winner and is coming off it lows. I like (NASDAQ:BYND) to start making it way back up from here.
Buy Area: $14.50- $15.1250
Sell Stop: $13.93750
TARGET: $17.8750 to $19.00 plus (2-7 days perhaps much sooner)
"RUN THE OPTIONS"
Another way to take advantage of this stock move back up is to play Sept $17.50 Call Options (Symbol:QYD-IW)
Have a great day!
More to come...