*** MBA Touches 52 Week High Today ***
Unfortunately the high of 85 seemed to be a resistance point and we
weren’t able to get past it. Still, having the resistance point be at
the 52 week high is a sign of strength. It means MBA is trading at its healthiest range all year and it is primed to hopefully break the high.
Once a company breaks its 52 week high, often times it can go on a
massive run. It doesn’t usually break the high of 85 and then settle
at…86 or something like that. What usually happens is once the
ceiling is broken, the bird flies out. If it breaks the high hopefully
it’ll jump to 95 cents or a dollar or more.
simultaneous players ever for one of the company’s online games. A
good sign. If you follow candlestick patterns, you’ll see that AMCG still seems set to bounce so it’s worth keeping your eyes on. As always use caution, but it definitely could be a nice bounce play for tomorrow.
FRE about 4.25%, FNM up nicely at +7.29%, and PCLN up over 4.5%. The
overall market was strong today, so I won’t take all the credit for
it. However, the DOW was only up 1.17% and all of my large-cap picks were up a lot more than that.
I think that’s a good sign that if the market has a nice bounce, my
large cap picks will do very well. FRE and FNM are extremely long term
picks so I’m not so sure about them, but I know eventually they will be
worth far more than they are now.
Now back to MBA…I kept a really close eye on MBA today to try and get
some clues as to what MBA is going to do next. I was unhappy to see
that for a brief moment MBA actually dipped into the red today, but was
extremely relieved to see that it VERY quickly bounced right back to
the green. It seems to have strong support in the 78-80 cent area. So
if that is the support, it shouldn’t be hard to get enough momentum going to break through that 85 cent high and catch a really nice profit.
This is one of the very rare small cap companies I like in the REAL
long term, maybe 3-6 months. Not the normal "small cap long term",
which I see as about a month or so. So the truth is I’m not too
concerned with the day to day price movements, because I know once they
make some key moves and acquisitions as well as keep hitting those
gigantic growth numbers, MBA definitely will be trading for much higher
prices than it is now, at least in my opinion. Nevertheless, I know
there are plenty of day traders on my mailing list and if we can
get behind MBA and push it past its 52 week high, the traders can
capture fantastic profits and it’ll help all of the investors get a
little bit closer to our long-term goal, more rapidly than expected.
The fact that MBA ended the day up only 3.85% means that anyone who
missed out and didn’t pick up MBA today can still scoop up some shares
tomorrow at a reasonable price. If we can just get behind MBA and
push it past 85 cents, we’ll break the high and show up on the radar
screens of a lot more investors and traders. Many people (I know I do)
use scanning software that is constantly scanning the market for
companies breaking their 52 week high. If we get MBA past 85 cents
we’ll show up on a lot of high net worth individuals screens and
hopefully they’ll play the momentum and cause a huge surge for MBA.
priced to invest in long term. Let’s have some fun with MBA tomorrow…
The Trader
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