Miles J. Stoner, @StockHollywood

Dallas, Texas

3.03.2011

Mar 4 - Fri. "Back on Easy Street"

Milestone Financial Investments L.L.C.
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  • Nasdaq-100 After-Hours Indicator Down 1.69 at 2,370.07
    • Big day for markets, people still hesitant to say we at a top, but if good news fails to push us to new highs in the coming weeks we may be. Dont forget how you felt about longs when Oil hit 100+ because it is still there. Think outside of intra-day trades on this one.
  1. MRVL, -5.8% 
    • missing Q4 estimates, approving a share buyback, and setting its Q1 revenue guidance just above the Street view
    • Looking deeper into the performance data, MRVL has recorded an earnings-driven after-hours decline in 10 of the quarters tracked in our database. It has reversed direction in next-day trade in six of those quarters, or 60% of the time. The reversal trend in place in MRVL is intriguing for more risk tolerant longs to take a look at for Friday. There was some decent buy momentum moving in late tonight at the lows of 16.80 up to 17, an area that may have tentative legs as a near-term bottom support. Nonetheless, we would still be cautious down at these levels as sellers were quite active in the low 17s, and they may look to hammer the issue deeper into the 16s Friday. On the short side, sell momentum was most aggressive tonight between 17.70 and 17.40, an area to watch for a possible ceiling level that could see downside drift back into the lower 17s or high 16s
  2. COO, +5%
    • better-than-expected results and guidance
    • solid long-term widening trend in place on evening upside moves and consistent buy liquidity moving into the shares tonight would have looking to play the long side of COO Friday. Buyers may want to linger in the 66 to 66.50 range, an area that could form as a base support through the early going tomorrow and perhaps see some upside turns into the higher 66s or attempt to break back toward 67
  3. SPRD, +10.9%
    • better-than-expected revenue results and guidance
    • trend in place in SPRD gives us some pause on the long side of the shares for Friday, but with momentum firm tonight there looks to be an opportunity to play the upside at the start tomorrow, a time where buyers may be more willing to over-reach. Longs may want to watch for entry points near 22.21 to 22.50, an area that saw bullish buy liquidity before the stock spiked to its late highs tonight. On the short side, sellers became a bit more aggressive at 24 and above, a level worth watching as a potential ceiling if it struggles to hold gains up here