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OT, so to speak. A trading call on MTSN issued today:
'kensey' has recommended MTSN (Long) at May 2 2000 1:32PM
Mattson Technology ( NASDAQ : MTSN )
Electrical - Manufacturer : 0 new highs in group of 39
Symbol Last Time Change High Low Volume
----- ---- ---- ----- ---- --- -----
MTSN 49.25 1:16PM 2.69 49.38 46.88 335,000
Community Take
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21 Long / 0 Short
'kensey' said:
Matson (MTSN).
viewing the ability of the nasdaq to hold up following the
downgrade of Meeker by Microsoft as a very good sign.
it was not too long ago
that negative comments from the street about this stock
caused a massive market sell-off. not so this time. yes
the market is down today, but it is not out. makes one
wonder how the market would react if ever there was any
good news to hit the wires. of course, everyone expects
had news. bad CPI. bad Fed. no one expects anything good.
given the fact that the nasdaq failed to crash and burn in the
face of negative news twice over the past few sessions (ECI
being the other one) it seems like it wants to move higher.
tom galvin recommends buying hand over fist at these levels
and a zero allocation to bonds.
everyone expects a retest. every time i phone in orders,
i get warned about the impending retest of the lows. it is
so expected that it is hard to not discount the sentiment.
and up-trending markets always have a wall of worry to climb.
so, covering shorts of VRTS and SEBL in the days ahead.
so, still, cautious but adding positions where the earnings
report has been a blowout. that was the case with Kopin (KOPN)
and that is the case here with Matson (MTSN). and playing
short term momentum in spots. KANA today for example.
Matson earned 21 cents versus the expectation of 11 cents.
that is a 90 percent difference between actual and expected.
in the prior quarter, Matson produced a 60 percent surprise.
Matson is growing the top and bottom line enviably :
moneycentral.msn.com
technically, the stock had a record price breakout last
friday. the 'spring line' is 43 1/2. this line is drawn
in. on the chart. have to come to CS to see it. it is
common for stocks for pull back to the spring line in the
days or weeks after a breakout has occured. but not always.
often, but not always. sometimes.
so how to play it? the same way i always play it : a little
bit now and little bit later. takes the guessing out of it.
buying an overbought stock? sure - some now and then some
later. i can't think of any other way that seems 'scientific'
given the fact that the closer one looks, the more random the
action becomes.
clearstation builds a list everyday that contains all the stocks
that have a record price breakouts. it is a list worth reviewing
a couple of times a day as it is updated continuously :
clearstation.com
adding another stock that recently reported a blowout :
MacroVision (MVSN).
disclosure : i have positions in both MVSN and MTSN.
kensey
See the annotated graph of this recommendation at:
clearstation.com |
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