The Play Of The Day
Good Morning Stock Fans!
Today's Play of the Day is: Log on America (NASDAQ:LOAX)
About Log On America
Log On America (NASDAQ:LOAX). is a Northeast Regional Competitive Local Exchange Carrier (CLEC) and Information/Internet Service Provider (IISP), providing local dial-tone, instate toll, long distance, high-speed Internet access and cable programming solutions over traditional copper wire using DSL technology to residential and commercial clients throughout the Northeast. For further information about Log On America visit www.loa.com.
Over the past month or so (NASDAQ:LOAX) has been busy acquiring ISP's in an effort to increase its companies overall growth. In mid August of 1999 (NASDAQ:LOAX) acquired NetQuater an ISP located in Brunswick New England, and then at the end of August 1999 it acquired UconNects a Connecuit based ISP.
With the acquisitions of both of these companies and the fact that (NASDAQ:LOAX) is in an industry that has roughly 700,000 High Speed Access users right now and is projected in the year 2002 to have over 12 million users it is easy to see that (NASDAQ:LOAX) is a target to a bigger company in broadband to be bought out as well as grow as the industry grows.
Stock Fans! Log on America (NASDAQ:LOAX) traded 263,700 shares in a range of $16.56250 to a high of 19.1250 before it ended the day up $1.43750 to close at $17.8750 a share.
In looking at this stocks chart formation over the past 30 days it has sold down off of the $24.00 area on extremely low volume. The fact that in a down market this stock as able to hold its gains bodes well for the near future. I also like (NASDAQ:LOAX) at current levels because since its April IPO it has shown the ability to trade at over $30.00 a share couple that with the fact that it chart suggests it has good support at $16.56250 a level it never broke yesterday as it went up right off the open tell me that the RISK is minimal here and the REWARD could be as much as 24.00 dollars a share soon.
Buy Area: $17.3750 - $18.25
Sell Stop: $16.3750
TARGET: $ 21.3750 to 24.00 (7 trading days)
BONUS PLAY Preview Travel (NASDAQ:PTVL)
Stock Fans! (NASDAQ:PTVL) has sold way down near a 52 week low of late on no real news I could find other then it continues to be the focus of buy out rumors. This stock had a tremendous run to over $28.00 a share in late 98 as it was a big part of the NASDAQ e-commerce Christmas run last November and December.
The fact that (NASDAQ:PTVL) has sold down to this level again in my mind makes it an appropriate bottom play as it looks to have found a base at just under $15.00 a share. (NASDAQ:PTVL) also has a 40% stake in upcoming IPO Netnews.com scheduled for later this year. That alone should net it close to 60 million plus in revenues. I see this as a good time to buy into (NASDAQ:PTVL) as it heads into the strongest quarter of its year.
Buy Area: $14.1250 to $14.25
Sell Stop: $13.43750
TARGET: $15.56250 to $17.1250 (10 trading days)
"RUN THE OPTIONS!"
Another way to play this is October 1999 $20.00 Option Calls
STOCKS TO WATCH: SPORTSLINE USA (NASDAQ:SPLN)
Stock Fans! (NASDAQ:SPLN) realized news yesterday that MountainZone.com starting in the first week of October 1999 will provide (NASDAQ:SPLN) Outdoor Sports Content and Commerce. The news took shares of (NASDAQ:SPLN) up $3.00 on volume of 1,001,900 as it traded nearly 2 times its daily 30 day average volume of 578,000 to close at $28.3750.
(NASDAQ:SPLN) on September 20, 1999, announced the launch of its business-to-consumer online auction site (http://auction.sportsline.com). The new site, part of the newly formed FairMarket Auction Network, features a wide assortment of sporting goods, merchandise, equipment and memorabilia both unique and from (NASDAQ:SPLN) e-commerce site.
With this years e-commerce Christmas sales projected to double last years numbers. I am looking for a big push in shares of (NASDAQ:SPLN) to $40.00 plus as it heads into the end of the year Looking at shares of (NASDAQ:SPLN) in shorter term this stock looks as if it is going to break through $30.00 a share very soon, perhaps today. As it makes it way back up to the mid 30's maybe as early as the end of this month.
HYPERFEED TECHNOLIGIES, INC (AMEX:PQT) *for 1 more day then (NASDAQ:HYPR)
HyperFeed Technologies, Inc. (AMEX:PQT), formerly PC Quote, Inc., announced yesterday that it will commence trading on the NASDAQ on Thursday, September 23, 1999 under the symbol( NASDAQ:HYPR) Earlier this year, the (AMEX:PQT) announced its name change and the transfer of its Internet business to its subsidiary PC Quote.com.
PC Quote.com is sated to go public under the symbol (NASDAQ:PCQT) next week. Ahead of tomorrow's move of (AMEX:PQT) to the NASDAQ under a new name and new symbol (AMEX:PQT) traded over 1 million shares more then 3 times it 30 day average volume of 316,000 as it went as high as $11.1250 per share to close at $10.81250 per share.
Stock Fans! (AMEX:PQT) might be very well just starting its run as the upcoming PC Quote IPO scheduled for next week should get a tremendous amount of interest. The fact that (AMEX:PQT) owns the vast majority of it should continue to take shares of (AMEX:PQT) higher from here.
Have a great day!
More to come....