Many top rated IPOs are on the move early today with several of our covered stocks making new all-time highs. IPOs have been the bread and butter in 2007 so I am sticking with the hot hand (the most obvious trend of the year).
*All prices from early morning screen*
- EDU – 90.32, is up over $5 for a 141% gain on the blog as volume is surging above average within the first hour of trading.
- CROX – 72.65, the stock is making new all-time highs as it continues to confirm it’s latest double top breakout on the point and figure chart
- VMW – 115.30, the stock is up several dollars as it flirts will all-time highs while making a move on slightly larger than average volume
- MA – 159.57, the stock is still moving higher from its most recent bounce off of its 50-d moving average *retracing slightly as I get ready to post this blog thread*
- SSRX – 18.60, the stock has popped 16% in early morning trading as it breaks the recent five day consolidation range. It is back within striking distance of new highs. Early morning volume is 1,500% larger than the average.
- FSLR – 152.90, still going higher as it continues to make new all-time highs with above average volume. Almost a 7 fold gain since the IPO debut
- LULU – 52.69, I missed this one for my portfolio and have never written about it on the blog. Up a few percent early this morning as it looks to recover from last week’s reversal of an all-time high. A nice $60-$100 candidate if it can establish itself above the $60 level.
- WX – 41.37, the stock had its first ideal moving average accumulation buy last week when it dipped as low as $30.10 intraday. I like this one closer to the 50-d moving average.
- JASO – 57.86, a long time favorite on this blog; it flirted with an intraday all-time high during the opening minutes this morning. It will become a $60-$100 play if it can establish a base or support near $60.
- MR – 39.93, currently sitting on the 50-d m.a. for a solid risk/reward play with a tight stop. Look for continued base building and then a push to new highs (give it some time to develop).
SFLY – 33.75, currently building a short term support structure along the 50-d m.a. Grab it in this area for a solid risk/reward and a push to new highs. - OMTR – 36.91, within striking distance of a new all-time high as the young IPO continues to offer entry areas along the 50-day moving average.
Hey Chris, great roundup.. been trading lots of these as well but am easing up a bit. Will be interesting to see how Giant Interactive (GA) trades tomorrow.
if you haven’t had a look you might like to check out a page I put together recently for IPOs
http://selfinvestors.com/tradingstocks/ipo/
Doesn’t GA start trading on 10/31/07?
Dima,
Yes, GA does debut tomorrow – I will probably do a write-up. I am also looking to get in on the hype alone.
Tate,
I have been to your IPO page. You have some great tools over at the site with a nice emphasis on IPOs
Chris,
ALWAYS a good read here. In and out of several of these as well. Another sector that has been in a volatile uptrend are the dry-bulk shippers.
I remember you saying that you sold GRMN too soon, not letting the trade fully develop…I think that it was GRMN?
Honestly, I’ve been known too take profits too quickly -either playing it safe or getting shaken out. Need some help here as I have seen many stocks advance w/o me in them.
My question is about MR, when you have a tight stop with a volatile stock like MR. how tight is it? Do you use previous support levels, what your willing to give back, average true range? I’m sure that you know MR reports this week.
thanks.
Jeff,
It was GRMM as I sold way too early. Kicking myself for that since I saw that the company, product and stock were strong. All three is a slam dunk!
I got stopped out of MR already (guess it was too close). Use a 25% retracement stop from the peak high. My spreadsheet calculates this for you. I was stopped out using support I saw on the chart instead of the retracement stop.
How about that action today on SSRX? Wow. VMW has been amazing as well. I hadn’t really thought of it until reading this, but you’re right it has definitely been a good year for IPO’s.
Chris,
I have really enjoyed your commentary and gained insight from your expertise.
Just wondered your thoughts on three other recent IPOs and whether you have looked at them yet?
XFML, NED, and STV?
I have a position in XFML.
Thank you!
MR
TNH
both on 10 wk. How they looking for a position?
Ken