Update #084
May 22, 2003
Consider Taking Good Profits on MME, AFCI, MNST, COF; Hold on to ONCY, ABTG
With the market continuing to show the possibility of a slide, it's still harvest-time. Here are further sell or hold recommendations on double-digit gainers from TCI, Special Reports, and the Update since last June:
Mid Atlantic Medical (MME), a February TCI recommendation at $31.90, is trading this morning at $46.83 after knockout earnings that topped expectations by 19 cents a share. The company is a mover in managed healthcare and other life and health insurance activities. Taking some profit would be understandable at this point -- that's a 46% return, or an annualized 174%. The stock is giving a intraday sell signal, but other than that looks strong. If you want to watch and wait, set a protective stop now at $44.49.
Telecom products provider Advanced Fibre Communications (AFCI) was a pick last October at $13.25. This morning it's at $18, a good place to take a profit of 35% or an annualized 57%; if you want to watch and wait, the protective stop is $17.20.
Development stage powerline communications company Ambient Corp (ABTG) was first recommended in the Update last July at 11 cents (not a typo) and I've been following it like a panther ever since. Barring anything catastrophic, there's huge potential here; this is the company with the way to transmit huge amounts of data cleanly over existing powerlines; in other words, any outlet in your home could become a means of broadband Internet access. This morning the stock is at 32 cents, up almost 200% or -- heck, why bother with the annualized gain on a penny stock. ABTG is a long-term hold. |
