The Play Of The Day
August 7, 2000
08:58 AM EST.
Good Morning Stock Fans!
Last: 3787.36 + 27.48 (+ 0.73%)
Open: 3812.00 (+ 52.43)
High: 3846.98 (+ 58.64)
Low: 3751.00 (- 8.66)
NASDAQ OUTLOOK TODAY:
Stock Fans! Cisco Systems will now be the focus as it reports numbers tomorrow following the bell. The Employment Report would seem to have steered analysts and in turn investors to feeling no rate hike comes in August or for that matter the rest of 2000! The PPI will be on Friday yet one another KEY economic indicator that could lend more truth to that feeling. The KEYS for the NASDAQ now are to ahead of Cisco's (NASDAQ:CSCO) numbers get back to 3893.00 where the NASDAQ went on June 2, 2000, off May 2000 Labor Report. If it can get to this area and hold it current double bottom at 3767.00 , 3768.00 then it could bust through 3893.00 on a good PPI number on Friday.
Today with the NASDAQ Futures up 38.00 currently. I will look for the NASDAQ to open about 15 points under Friday's high of 3846.00 or so at 3831.00 then 3840.00 should be broken and then 3850.00 would be resistance. If it can break 3840.00 then I look for the NASDAQ to find resistance at 3893.00 just under 3900.00 I see 3900.00 area as one that CSCO will need to beat the street to bust and then a good PPI number Friday could send the index over 3900.00. However today I look for the NASDAQ to hold serve at 3751.00 as a low today same as Friday's low and then make 3850.00 a number if it can clear today a run into the close of 3890.00! It seems that no rate hike in August can send the NASDAQ back to 3900.00 4k plus! The jury is still out but the good news on Friday should continue to be investors minds today as they search for beaten down Techs and Nets that have some good gains in store if the NASDAQ can reclaim 4000!
NASDAQ KEY INDICATORS TODAY:
5 Day High: 3846.98
5 Day Low: 3521.00 ( range = 325.98)
SUPPORT: 3768.00, 3767.00 (double bottom created)
RESISTANCE: 3893.00 (NASDAQ in its 60 day range has broken out to over 4000.00 when 3893.00 is broken)
Today's Play of The Day is: Portal Software (NASDAQ:PRSF)
About Portal Software:
Portal Software (NASDAQ:PRSF) develops, markets, and supports real-time, scalable customer management and billing software for providers of Internet-based services. The Company's Infranet software is a comprehensive platform that meets the complex, mission-critical provisioning, accounting, reporting and marketing needs of providers of Internet-based services. The Company's Real Time No Limits Infranet product enables the real-time provisioning and reporting of services, including such functions as account creation, user authentication and authorization, activity tracking, pricing and rating, billing and customer service, including self-service, all on a scale of up to millions of users.
PRSF , is in a nice uptrend on increased volume. It has a 10 day high of 67.75 in its current range. It also closed Friday up more then 3.00 at its high of the day at 56.56. It should now test 53.00 and probably holds its 5 day low of 47.50. I like the stock today a lot off the 54.00 area as it held that figure after the open the entire trading day on Friday before it ran up to 56.00 plus into the close. It looks good to make a run back to it's current 7 day high of 60.3750 and could run to as high as 67.50 in the next 1-5 trading days.
KEY INDICATORS: PRSF
Buy Area: 54.3750 (limit buy)
Sell Stop: 51.50
1 -3 DAY TARGET: 56.44-57.50
3- 5 DAY TARGET: 67.00
Type of Trade: daytrade/ swing trade
BONUS PLAY #1 Electric Fuel Corporation (NASDAQ:EFCX)
Electric Fuel Corporation is engaged in the design, development and commercialization of its proprietary zinc-air battery technology for portable consumer electronic devices such as cellular telephones, laptop computers, personal digital assistants and camcorders, as well as for electric vehicles and defense applications. The Company's Consumer Batteries Division develops disposable primary zinc-air batteries as a substitute for lower performing and initially more expensive rechargeable batteries. The Electric Vehicle Division focuses on fleet applications of the zinc-air battery system. The Defense and Safety Products Division develops other uses of the battery technology.
EFCX, is a former play we called here at 8.00 or so in early 2000 and it ran to over 20.00 a couple of times for us. Currently EFCX is really oversold on all its technical indicators such as Stoch, RSI, and 200 and 50 day EMA's. The stock has a current 30 day low of 6.8750 and a 10 day high of 15.25 reached on July 17, 2000 when the NASDAQ saw 4289.00. Yes, its true in less then 15 trading days it has been cut in half! It appears to be very LOW RISK as it traded as low as 7.50 on Friday then after bouncing off that figure traded as high as 8.50 and closed on 535,000 shares slightly ahead of its 30 day average volume at 8.1250. It would appear it has solid support now off 7.50 and could make a move in the next 1-3 days on added volume back to 10.43750. It as I said earlier has been hit hard but big volume has not sold this up and coming FUEL CELL play off. It should hold 7.50 today as it then may make that 10 + run in the next 3 days if it can keep moving up it could go as high as 12.25 in the next 10 days getting back about 66% of it losses since July 17, 2000.
Caution: Just because EFCX is only a 7.00 stock. That doesn't mean I will buy
a ton of it! I will play it like all other plays, as buying it in volume cause its low priced doesn't guarantee it runs big.
Leaders in the Sector: "Watch them Close Today!"
BLDP, PLUG, FCEL, ENER, ENE
KEY INDICATORS: EFCX
Buy Area: 7.25-7.43750
Sell Stop: 6.75 ( 30 day and 90 day low! is 6.8750!
1-3 DAY TARGET: 9.1250-10.43750
4-10 DAY TARGET: 12.25-13.50
Type of Trade: daytrade/ swing trade
BONUS #2 : WAY OVERSOLD LOW RISK! 92.00 15 trading days ago! NOW Friday 's Low 34.03750!
Clarent Corp. (NASDAQ:CLRN) "LONG AT 31.1250"
SHORT to 32.00 at 36.00 BUY STOP at 38.3750
I called this stock as a "Play of The Day!" last week. It didn't hold then and has since gone as low as 34.3750. This stock has a 90 day low of 29.00 even at 30.00 if it comes today or in the next 2-5 days I will go into CLRN and hold setting a sell stop at 28.00 and look for a 30 day move of 60.00 as CLRN should bounce up and then add on once it bottoms!
KEY INDICATORS: CLRN (SHORT)
SELL SHORT: 36.3750-37.1250
Buy Stop: 37.50 FIRM
1-3 DAY TARGET: 33-32.00
KEY INDICATORS: CLRN (LONG)
Buy Area: #1: 33.50 It can bounce fast!
Buy Area#2: 31.25-31.50
Sell Stop: 28.1250
1-5 DAY TARGET: 38.00-42.00
30 DAY TARGET: 58.50-60.00
PRO TRADER SAGO'S BONUS PLAY'S:
BONUS PLAY #1 Integrated Device Technology, Inc. (NasdaqNM: IDTI)
Integrated Device Technology, Inc. (IDT) enhances the global network with semiconductor solutions for communications companies that lead innovation and drive convergence in voice, data and wireless networks. Communications-industry leaders choose IDT for its high-performance products that accelerate time to market and boost bandwidth in the network infrastructure. IDT's communications memories offer the broadest selection of FIFOs, multi-ports, ZBT and QDR SRAMs; its communications ASSPs include ATM switches, TSI/TDM switches, high-speed PHYs and embedded processors; and the product mix also incorporates high-speed SRAMs, high-performance logic and clock management products. Headquartered in Santa Clara, Calif., the Company employs approximately 4,800 people worldwide and has manufacturing facilities in California, Oregon, the Philippines and Malaysia.
SANTA CLARA, Calif.--(BUSINESS WIRE)--July 18, 2000--IDT (Nasdaq:IDTI - news) today announced results for the quarter ended July 2, 2000, the first quarter of fiscal 2001. The Company reported first quarter net income of $62.4 million, or $0.58 per diluted share, on revenue of $231.3 million. Operating earnings per diluted share of $0.58 represent a sequential increase of over 40 percent compared with the $0.41 recorded for IDT's fourth fiscal quarter of 2000, and a 480 percent increase from the first quarter of fiscal 2000.
Stock Fans, another favorite play that's time has come again. IDTI reported a +544% increase in earnings last quarter. No surprise as this company has consistently grown earnings. I like this as a hold into the fall as I feel this Company has a lot of potential with its PE of 35 and cash flow per share of $1.86. The numbers below are for a short term scalp.
Key Indicators: IDTI
Buy Area:$53.50 to $53.75
Time Frame: 2 to 5 days
Type of Trade: Swing Trade
Daytrade for $.50 - $ 1.00 point scalps. Avg. daily price range $5.61
BONUS PLAY # 2 M-Systems Inc. (NasdaqNM: FLSH)
FLSH develops, manufactures and sells electronic disks that provide data storage based on flash memory for embedded systems, telecommunication applications and internet appliances. For the fiscal year ended 12/31/99, revenues rose 86% to $30.4 million. Net loss totaled $1.7 million, up from $270 thousand. Revenues reflect the penetration of Co.'s existing products into new markets, and the release of the new DiskOnChip Millennium. Net loss reflects increased selling and marketing expenses.
8/7/00 Acer Selects M-Systems' DiskOnChip Flash Disk for Networking and Information Appliance Product Lines
M-Systems Reports $0.24 Per Share Profit and 246% Increase in Revenues for Second Quarter
Stock Fans the classic sell on the news chart. M-Systems reported earnings that increased 500% from the prior year and sales that grew 246%. This is a chart play. The stock has bounced off of its 200 day moving average of $49.10 on heavy volume. This will be my stop less a dime. Looking for a scalp on the bounce.
Key Indicators: FLSH
Buy Area:$50.75 to $51.00
Time Frame: 2 to 5 days
Type of Trade: Swing Trade
Daytrade for $.75 - $1.50 point scalps. Avg. daily price range $6.05
PRO OPTIONS TRADER MATEO'S OPTION PLAY:
Nortel Networks Corp. (NYSE:NT)
Nortel Networks Corporation is leading global supplier of networking solutions and services that support voice, data, and video transmission over wireless and wireline technologies. The Company is focused on building the infrastructure service enabling solutions and applications for the new, high-performance Internet. Nortel Networks' business consists of the design, development, assembly, manufacture, marketing, sale, financing, installation, servicing and support of networking solutions and services for Service Provider and Carrier customers, and Enterprise customers. The Company's solutions and services are used by customers to support the Internet and other public and private voice, data, and video networks.
NT is coming out of oversold and the networking sector is catching on again. Look for an entry at 74. First resistance is at 77 and then 80.
NT August 75 CALL NTV HO - entry at 3.
STOCKS ON MY SCREENS TODAY: By Stock Jock
1. EMLX- I like 76.00 alot on this one today
2. QLGC- EMLX wanna be 85.00 might be inline
3. NTRX - It had news and big volume Friday it could see 8.00 plus soon. 14.00 is current 10 day high.
4. VRTL- big volume Friday it could run if it keeps adding on I will watch this one very close for a break out
5. CORV- After it tests 105.00 today it could see 122.00 it looks like
6. ORCH- Bio Tech Recent IPO ( 60 days old) It ended Friday at day high could after boucing off 48.00 make a move to 55.00
7. CSCO- It will report earnings tommorow after the bell. It could see 72.00 today
8. PPRO- It could get the volume it needs to bust out 50.00 is reisitence.
9. GETTY- increased volume.
10. JDSU- It now looks like 125.00 is resis and 114.00 is support If it has an 8.00 point range today then 124 could be high and 116.00 could be low. I will BUY off open and set sell stop at 113.8750 and look for 122.8750 as a target in the range today for 6.8750 in gains if I play it right.
11. AFCI- 38.00 support 42.00 breaks this one out to 44.00 plus!
12. NPLS- It could make a move
13. CMTN- 62.00 is 30 day and 90 day low 200 day low is 48.00 I like it to hold 63.00 today and see 70.00 in next 3 days
14. FCEL- low volume can move it up big
15. PLUG- It could see 44.0048.00 in next 3 days
16. JNIC- It jumped up nice Friday watching for 54.00 now
17. RDRT- Added on big volume it has bottomed
18. CPTH - added on 6.00 Friday on increased volume watch this one to break out
19. LPTH- It looks like 35.00 is next then 44.00 I love this one
20. FNSR- It could run closed at day high I like 34.00
21. FFIV- 42.00 appears tro be a perfect buy area
22. CMRC - It looks like 55.00 is next in this one resistance and it should hold 44.50 before that
23. EXDS- It is a bargian here says many brokers.
24. NPNT- Big volume 15.00 is huge to bust it out
25. BDAL- IPO that could get very hot if it clears 25.00
26. SPWX-It could see 105.00 top today then pull back and I like 89.00 as a buy area on sellers.
27. GGNT- recent IPO watch close
28. LOOK- It may have bottomed one to watch
Have a great day!
More to come.........
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