Red Hot Stocks!!
Here are several stocks which have had sharp corrections, now showing sharp upward momentum over the past 4 business days (Oct1. to present). These are all worth a serious look.
1. GBLX: Up 3 5/16 (13%) today. As Steve Susko noted, this may be in play because of renewed attention following the mega-merger between MCI Worldcom and Sprint. This is also an extraordinarily attractive company for possible takeover or merger. GBLX was named as "the best investment opportunity of 1999" by George Gilder in the Sept. issue of his Technology Report. Very undervalued at present price.
2. Metromedia Fiber (MFNX): Down over 50% from earlier highs following announcement of merger with AboveNet, was down to 24 on Oct. 1, now up to 31 1/4 (30% gain) over the past week. Recent dark fiber deal with Winstar (WCII) may have brought it back to investor attention. Still has large upside as one of the premium "final mile" players in the broadband/high speed access space.
3. Speaking of Winstar (WCII), dropped from 60 down to 37 1/2 on Oct. 1, now up to 44 11/16 (20% gain) over the past week. WCII senior VP Bill Vogel has recently stated to analysts that "we're confident we will meet or exceed the overall earnings estimates and revenue estimates" for 3rd quarter, which they will report Nov. 2. Initial drop was because WCII told analysts earlier in year that they would "focus more on profitability than revenue growth", which was misinterpreted by market. Again, a premier player in the "last-mile" space.
4. Q-Logic (QLGC): Stock was at 99 on Sept. 11, corrected sharply to 65 by end of Sept., due in part to the brouhaha over the Taiwan earthquake and possible effect on chip stocks. Stock closed today at 88, a 35% increase over the past 4 business days! Might still have some upside, worth accumulating on a dip.
|
