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!

Saturday, April 29, 2006

ADVS Soars!

I made a blog post on ADVS 10 days ago recapping the coverage on MSW. I showed you how the stock was on the move and how the 200-d moving average play was making the anticipated move that I researched in early April.

As I wrote on the first day of coverage, and reiterated several times since, the short term target was a move above $34. Advent Software smashed earnings yesterday with a four fold increase and then awarded investors with a 12.17% advance on huge volume (volume was up 374% larger than the 50-d m.a.). The stock is now up 24% in less than a month on the MSW Index. I advise that protection be placed to ensure that your gains will be captured. I myself have placed a retracement stop (explained in a previous post and on the position sizing calculator).

Added to the MSW Index on 4/1/06:
"ADVS – 28.42, I bought the stock myself. I don’t know if it will work out but I placed money on the idea and have rules to protect the downside. As you have been noticing, I have been making several 200-d m.a. momentum buys in recent months. A twelve month price target will be from $38-$40 (FYI: I got in lower than the Index price as I bought on Thursday).

It will be interesting to see where the stock goes from here as I am looking at a short term target of $34 and a longer term target above $38 towards $40."

Piranha

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