The Play Of The Day
Good Morning Stock Fans!
Today's Play of the Day is: Cheap Tickets (NASDAQ:CTIX)
This stock reported in mid July 1999 what were extremely impressive earnings that blew away analysts projected earnings and sent shares of (NASDAQ:CTIX) as high as $65.00 dollars a share.
Since that time in late July 1999 (NASDAQ:CTIX) has sold off all of those gains. In fact it is very interesting to point out that ahead of (NASDAQ:CTIX) big run to its high reached on July 23, 1999. (NASDAQ:CTIX) was sitting at exactly $29.00 dollars a share. That is right where it bounced again on Friday, September 10, 1999, exactly 90 days later.
Looking at (NASDAQ:CTIX) volume yesterday I see that it traded 930,200 shares almost 2 times that of its 30 day average volume of 422,000 shares. The increase in volume yesterday lead to an increase in (NASDAQ:CTIX) stock as it went as high as $32.75 after it opened just over that crucial $29.00 dollar area before it finally closed up $2.81 at an even $31.00 dollars a share.
Stock Fans! I really like shares of (NASDAQ:CTIX) at its current levels because the company has done nothing that I can find that would in any way not allow it to again post what should be great numbers up coming for the next quarter. I also like the stock at current levels because although it has traded low then $29.00 over the last 90 days it has not closed under $29.00 dollars a share during that time. There is also some added interest in option calls for (NASDAQ:CTIX) of late adding even more fuel to the fire that (NASDAQ:CTIX) is over sold at current levels and presents a perfect opportunity with little downside risk to take advantage of VOLUME that should take shares of (NASDAQ:CTIX) higher over the next 2 weeks or so.
Buy Area: $30.75 - $31.50
Sell Stop: $28.93750
TARGET: $35.1250- $39.93750 3 days to 3 weeks
"RUN THE OPTIONS!"
(NASDAQ:CTIX) October 1999 $35.00 Option Calls
Have a great day!
More to come...