The Play Of The Day
09-13-99 08:08 EST
Good Morning Stock Fans!
Today's Play of The Day is: Bottom Line Technologies (NASDAQ:EPAY)
(NASDAQ:EPAY) is a stock I keep a close watch on as I believe e-Commerce solution companies as (NASDAQ:EPAY) is are going to much higher over the next year as the e-Commerce market keeps going as the Internet has more and more credit card transactions.
(NASDAQ:CKFR) has enjoyed a nice run up as those of you in my LIVE TRADING ROOM know all to well. I figured that (NASDAQ:EPAY) would perhaps follow that lead. Sure enough this past Friday, September 10, 1999, (NASDAQ:EPAY) on no NEWS that I could find as I could find would trade more then 4 times its 30 day average VOLUME of a minute 188,000 shares to over 821,400 shares as (NASDAQ:EPAY) again on no NEWS went up over $2.75 a share. Stock Fans! to have that kind of increase in VOLUME on no news manes more often then not that something could indeed be coming very soon to take shares of (NASDAQ:EPAY) even higher!
To see that kind of VOLUME on (NASDAQ:EPAY) you have to go all the way back to May 4 1999 when (NASDAQ:EPAY) a stock that was as high as $98.00 in early March 1999 traded over 800,000 shares when it was trading at a price of 65.00 dollars or so.
What this tells me is (NASDAQ:EPAY) a stock that this past Thursday, September 1999 reached it all time low of $21.1250 , looking at all technical indicators, has reached bottom and now on what Friday's VOLUME would suggest is renewed interest in (NASDAQ:EPAY). It looks to go higher from here.
Buy Area: $22.6250 - $24.1250
Sell Stop: $21.8750
TARGET: $31.43750 ( 3 days to 3 weeks
STOCK TO WATCH: (Until mid October 1999) (NASDAQ:NAVR)
Net Radio has a new underwriter working on their IPO. (NASDAQ:NAVR) owns over 35% of Net Radio. It seems that Net Radio could go public as earlier now as before the end of October 1999. The last month or so now (NASDAQ:NAVR) has been trading higher significant increase in VOLUME of late. In fact 2 days last week (NASDAQ:NAVR) traded over 1 million shares.
Stock Fans! Look for (NASDAQ:NAVR) to keep getting attention with Net Radio apparently coming to the NASDAQ Market in late October 1999. (NASDAQ:NAVR) has many followers and Net Radio is a very HOT commodity that is the leading music provider on Real Networks (NASDAQ:RNWK).
With all that in mind I will continue to accumulate shares of (NASDAQ:NAVR) at current price levels. The best way to play the (NASDAQ:NAVR) run up ahead of its IPO Net Radio is: (NASDAQ:NAVR) October 1999 $15.00 Call Options Symbol:QHQJC Last $0.5625
More to come,