Market Talk with Piranha is currently moving to its new home at chrisperruna.com. The new site is up and running but many of the posts need editing as the images and stock charts did not transfer successfully (thanks blogger). I will post all new entries to both blogs – Thank you for your patience while I make this change!

Thursday, July 28, 2005

Breakout

Last night I said this about one of our MSW weekly screen stocks:
“SSNC – 33.00, the handle is forming for this pattern, pivot point is $35.10 with qualifying volume near 334,368.”

Well, at 12:38pm, the stock is at $36.47 and volume is over one million shares. The open gaped-up but SSNC has been on the weekly screens for months as the base has been building.

SS&C agreed to be acquired today for $982 million. This translates into a payout of $37.25 to stockholders from Carlyle’s Sunshine Acquisition Corp. This is a 15% premium over the average closing price for the past 30 trading days.

If you have questions about the breakout or entry strategies if you have missed the stock, send me an e-mail and/or wait for a discussion tonight on the daily screen.

Piranha

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