To: Venkie who wrote (751 ) 5/18/2001 10:33:34 AM From: Venkie Read Replies (1) | Respond to of 13815 xtreme Networks (EXTR) - Broadband solutions provider EXTR gave traders a gap-adjusted long of 36.55 on May 2nd, and they took quick profits as it sold off from an intra-day high of 38.11. On the 14th the stock bounced off an intra-day low of 27.52 near its 22 and 50 DMAs and traders went long. Thursday it closed at 36.81 on heavy volume for a total possible gain of 38.38%. We suggest pulling stops up if you haven't already done so. Add to positions over 38.36 with tight stops. If EXTR fails to move higher and hold, aggressive traders may short it as it bounces down from near 37. Look to turn and go long on a bounce near 30-31. Optionable. FuelCell Energy (FCEL) - Alternative energy provider FCEL gapped down May 4th to take out our planned short entry, but the gap-open tactic kept traders out of what would have been a bad short. Instead, some removed their stops before the open and didn't even EXIT from their prior long position! FCEL really picked up steam on the 8th to provide our 70.63 long entry, and now has an incredible two-day streak going with Thursday's 85.28 close. That's a hefty profit so far of just over 20%! The stock is looking a little extended here, but given the energy environment, we're not TOO worried about a pullback. Tighten stops and nibble on some more shares over 86.50, but be certain to maintain a trailing stop. If the surge runs out of steam, skilled shorters can enter on a move below 76.25, and again, follow with the tight stop. Look to go long on a bounce near 70-71. Earnings are due May 31st, and the street anticipates that last year's 0.13 loss will grow to a 0.35 loss this time. Optionable. Ballard Power Systems (BLDP) - Canadian fuel cell researcher BLDP rocketed higher following comments from President Bush Thursday, who indicated that tax credits for hybrid vehicles will play a role in his energy policy. The stock, which closed at 49.23 Wednesday after providing our 48.75 long entry, tacked on a stunning 8.37 points to gain 17% in one day! Along the way, traders picked up our second long entry above 53 en route to Thursday's 57.60 close, which obliterates recent resistance and leaves BLDP looking quite extended. Nibble long over 60.13, but watch for resistance to show up near the 200 DMA at 68.26. If shares bounce lower from there, consider a quick short. If shares retreat immediately without first heading higher, look for an opportunity to enter long on a bounce near technical support at 53.90- 55.90. Optionable. PerkinElmer (PKI) - Traders entered PKI long over 66 April 30th, but those who hadn't taken profits by the close were victimized by a downside gap the next morning that resulted in a small loss. PKI spiked Thursday to close at 70.12. Enter long over 71 but watch for overhead resistance from the 200 DMA at 75.18, where skilled shorters might want to take a position if a pullback ensues. PKI splits 2-for-1 June 4th. Optionable. Flextronics International Ltd. (FLEX) - This electronics manufacturer has traded for the past three weeks in a pattern between lows near 24.50 and highs near 30. This range is also bound by the 50 and 200 DMAs. Thursday's price action had FLEX testing 200 DMA resistance at 29.99 before closing at 29.58 on average volume. If buyers can push shares out of the current range, go long over 30.50 to take advantage of a breakout. If resistance proves to be too much, go short on a bounce down from near 30. Keep tight stops and be ready to turn and go long on a bounce near 25-26. Optionable.