Trade/Invest with Options Jerry a Point & Figure Chartist Message Board

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Strategies & Market Trends : Trade/Invest with Options Jerry a Point & Figure Chartist

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To: Jerry Olson who wrote (36)	1/21/2001 4:04:29 PM
From: kha vu	Read Replies (1) of 5893

ppro: <<<PurchasePro.com PPRO $22.31 +3.93 (+5.31 this week) This was certainly a timely addition to our Bullish plays list. After we made this selection the stock rose $3.93. Although we'd like to take credit, it was the rosy earnings report from rival CommerceOne that did the trick. Many analysts have felt that companies in the e-procurement sector may be less impacted by the softening economy. They believe this because services by companies such as our Bullish play save companies money. This would put them first in line for shrinking capital budgets. CommerceOne's report and an earlier one from Ariba, confirms this opinion. Business for these companies is booming. This was plenty of incentive for traders to begin shopping the sector. They should get more evidence after the bell on Monday when Freemarkets.com reports. On a technical level, short and long-term indicators could not look better. Trader's Bullish sentiments are underlined by volume of 8.4 million shares traded. This is well ahead of the 50-day moving average of 4.3 million. Our only concern is that the sharp rise up may make the play susceptible to profit taking. Particularly because the close was right at resistance we identified last Thursday at $22.37. Just in case, we are going to protect our gains by instituting a tight trailing stop of $22.05. Be certain to review our "In Play" section daily for updates to our stops. Picked on January 18th at $18.38 Change since picked 3.93 Earnings Date 1/24 (Confirmed) members.netbulls.com >>>>>

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