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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