Hi James. I was sitting here wondering whether or not to start a thread on this company when you beat me to it.
I played this as a day trade on Friday based on the earnings report which I think is very important for short term players. How could it miss with this kind of a report?
DENVER, Sept. 19 /PRNewswire/ -- Accelr8 Technology Corporation,
(OTCBB: ACLY) the leading provider of conversion services for Digital
Equipment Corporation VAX legacy systems to open systems, announced results
for the 12 months ended 7/31/96.
Total Revenue: 7/31/96 $2,097,011 versus 7/31/95 $1,382,536
Net Income: 7/31/96 $1,192,780 versus 7/31/95 $382,394
Thomas V. Geimer, Chairman of Accelr8, attributed the 212% increase in net
income to "the company's growing migration services business as well as a
strong market for modernization of IT environments."
The 212% increase in net income is the important thing to consider. I bought in at 1.125 Friday morning and watched the bid and ask sit still until after 1/2-million shares traded. Finally it began moving and I got out at the high bid of 1.3475. A real nice day trade. However, it would appear that with these kind of earnings (the one thing that really matters), we should see more upward strength over the next few days. I hate to keep a position over the weekend but will probably buy back in when the market opens if I see any volume.
Anyway, thanks for starting the thread and we'll watch what happens. |
