VMware Completes First Run

VMware (VMW) completed the first stage of a run I anticipated early last month. I said to look for a push towards the triple digit threshold for a $60-$100 run. A run that is common among stocks with strong fundamentals and up-trending technicals (or hot IPO’s – the case here).

101007_vmw_wkly.png

According to records, only 4 Mutual Funds bought new stock as of October 1, 2007. They owned a collective 4,800 shares for a value of $395,328. I expect this limited data to explode during the next “full” reporting period. It’s too bad I can’t find real time institutional data as that would be awesome. Only a select few get real time institutional data. For the rest of us: read the price and volume charts!

By the way, the stock has a forward P/E ratio of 162.09x
Is that too high to buy? All I can say is that some thought the price of VMW was too high at $69.

Daily Screen for Friday 9-7-07

VMW – 69.79, it’s the first time I am covering the stock as it is yet to build any recognizable base. However, the support and hype is still there so be ready to pounce on pullbacks and look for a ride towards the triple digit threshold ($100). An unusual $60-$100 run.

Daily Screen for Tuesday 9-11-07

VMW – 76.76, the stock was up 10.45% on one of the largest daily volume days since its debut. Today’s move shot the stock into new all-time high territory. The stock is up 20% over the past four days.

Comments

  1. Nice call – the pullback to the 75 area if the first breakout was missed was another nice entry point

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  1. […] – 107.04, the stock completed the $60-$100 run and is now above the triple digit threshold. I am looking for a base at or slightly above $100 for […]

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