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| PLAY >New Drops |
Sunday, February 25, 2001 |
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New Split Drops
| ACAI - Atlantic Coast Airlines $42.88 (-2.31) |
ACAI ran into some very choppy air during Friday's action. Once the $44.00 support was broken, the rush to the exits accelerated. ACAI will begin trading on a split-adjusted basis Monday. We were planning to exit this position on Friday's close. Unfortunately, the early selling pressure caused the execution of our stop at $42.50. Our stop was just slightly below the 50-DMA and it appears that ACAI successfully tested this important support. Longer-term investors may want to continue watching this stock and perhaps enter a position following the split if ACAI can hold the new support of $21.00.
| WWY - William Wrigley Jr. Company $91.15 (-0.46) |
Our tightened stop helped us to lock in profits on Friday, as WWY shares slipped below support due to heavy selling across the broader market. We feel its a much safer strategy, not to mention more profitable, to keep a tight stop in a volatile market. So, although our gains on WWY were not astonishing, the stock performed very well in relation to market as a whole. As mentioned in our write-ups, WWY is a good candidate for future growth and will likely be considered for future plays.
New Candidate Drops
None
New Momentum Drops
None
Drops Index
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