The Play Of The Day
07:20 EST 08-30-99
Good Morning Stock Fans!
Today's Play of the Day is: CLARENT CORP. (NASDAQ:CLRN)
Here is a "Cable Guy!" that I strongly believe has yet to be noticed. It is currently in a deal with (NASDAQ:HSAC) and is in the progress of creating an even bigger presence in the DSL area (high speed access to the Internet) I believe that with only good things to come on this stock. In the not to distant future Investors should start comparing shares of (NASDAQ:CLRN) with the likes of such companies as the unbelievably high flying shares of (NASDAQ:RBAK) and (NASDAQ:CMTN).
Clarent Corp (NASDAQ:CLRN) came public on Friday, July 2, 1999. It was a rather unnoticed IPO as it opened at $29.50 and would go as high as $39.50 on trading volume of 2,920,400 shares. Only 1 day after its debut on the NASDAQ market (NASDAQ:CLRN) on Tuesday, July 6, 1999, would after a long 3 day holiday for the 4th of July would start right where it had left off and go as high as $46.6250 a share. Over the next 2 weeks (NASDAQ:CLRN) would make it way to its all time of $52.00.
After that point, shares of (NASDAQ:CLRN) would sell off with the rest of the "Cable Guys!" to reach its low of $21.00 on August 11, 1999. Over the past 12 trading days leading up to Friday, August 27, 1999, shares of (NASDAQ:CLRN) would make their way back up to open as high as $42.25 a share.
(NASDAQ:CLRN) still sits over $12.93750 off it all time high of $52.00 reached on July 15, 1999. With the "Cable Guys!" stocks coming back in the last 10 days or so and the fact that (NASDAQ:CLRN) has inked a deal with (NASDAQ:HSAC) another "Cable Guy," adding in that "consolidation" in the "Cable Guy!" sector seems unavoidable makes (NASDAQ:CLRN) a perfect buy today. I am very Bullish on (NASDAQ:CLRN) to get more notice as it should find it way to a new high in the next 2 weeks or so.
Buy Area: $39.43750 - $39.93750
Sell Stop: $36.43750
BONUS PLAYS: Hold till Dec 17, 1999
PERFORMIA (NASDAQ:PRFM) & SHOP AT HOME (NASDAQ:SATH)
(NASDAQ:PRFM) Is an exclusive seller of perfume sales over the Internet as well as a bricks and mortar retailer of perfume. Stock Fans! last quarter (NASDAQ:PRFM) earnings just reported last week were BLOW OUT! Last year same quarter last year (NASDAQ:PRFM) lost 4 cents a share. This quarters past earnings report had (NASDAQ:PRFM) reporting a 20 cent gain! With Christmas 1999 seen as a the biggest perfume selling season of the year the best is yet to come in 1999 for (NASDAQ:PRFM)
TARGET: $13.50 + (Hold till Dec 17, 1999)
(NASDAQ:SATH) went as high as $30.1250 on Feb 8 1999 on optimism of its the launch of its LIVE Video Auctions at the end of Feb 1999. That is as high as (NASDAQ:SATH) would get as it sold all the way down to as low as $6.6250 on August 11, 1999
With Christmas1999 right around the corner and this one mentioned by Henry Blodget of (NYSE:MER) with the likes of (NASDAQ:AMZN) it would seem to me that now is the time to get in on shares of (NASDAQ:SATH) and hold till mid December 1999.
Buy Area: $8.6250- $8.93750
Sell Stop: $6.75
TARGET: $22.00 (hold till December 17, 1999)
Watch shares of (NASDAQ:GETY) Lately investors have been bidding them up. The CEO of (NASDAQ:GETY) is expected to be on CNBC's Power Lunch today. I will be looking to buy shares of (NASDAQ:GETY) today into any weakness, looking for a strong run.
Have a great day!
More to come...