ARBA opens with news, but how big?
I woke up this morning, fired up my comp, and checked out ARBA to see that news had been released this morning, http://biz.yahoo.com/bw/050426/265453.html?.v=1. Apparently, Ariba "today announced the availability of Ariba Supplier Connectivity at the Ariba LIVE 2005 Orlando conference. The subscription-based offering extends the benefits of the 120,000 suppliers enabled on the Ariba® Suppler Network(TM) to a large community of enterprise buyers and their suppliers currently using non-Ariba spend management systems." I mean that is pretty good news in my eyes and the stock opened at $6.91 which is a $.02 cent spread over yesetrday's close.
So now what though, is the stock flying up? Well no, and that is what interests me so far today, for some reason (which I would probably find out from digging further) I have reason to believe this was already known. I believe this conference already occured and news had already been release on other key topics. We have to remember that the original reason this stock had a bad day on Friday was because of the earnings release Thursday after the close.
So what are we going to do, well I am going to keep watching it closely. It actually downtrended (we are talking a 6 minute trend) down to $6.86 but now is hovering around the low $6.90s. We could see the price push past $7 with the current circumstances which would be great. What I am going to watch for very closely today is if I see more buying or more selling. Well, yeah Blain, duh. But this doesn't mean just in general, it more so means within trends. If there are bigger buyers buying bigger lots of shares vs smaller buyers taking profits then that is bullish. As well, where are the intra-day resistance points? Well I can tell you that from the time I started this paragraph not even 3 minutes ago ARBA took a run up to $6.95 and has met resistance here ( about 12,000 shares worth). So if it can break past this resistance point then you will most likely see a run past $7. All of these tiny points come into play because with our position, every penny is $10 more dollars in our pocket or out of our pocket.
To the future,
So now what though, is the stock flying up? Well no, and that is what interests me so far today, for some reason (which I would probably find out from digging further) I have reason to believe this was already known. I believe this conference already occured and news had already been release on other key topics. We have to remember that the original reason this stock had a bad day on Friday was because of the earnings release Thursday after the close.
So what are we going to do, well I am going to keep watching it closely. It actually downtrended (we are talking a 6 minute trend) down to $6.86 but now is hovering around the low $6.90s. We could see the price push past $7 with the current circumstances which would be great. What I am going to watch for very closely today is if I see more buying or more selling. Well, yeah Blain, duh. But this doesn't mean just in general, it more so means within trends. If there are bigger buyers buying bigger lots of shares vs smaller buyers taking profits then that is bullish. As well, where are the intra-day resistance points? Well I can tell you that from the time I started this paragraph not even 3 minutes ago ARBA took a run up to $6.95 and has met resistance here ( about 12,000 shares worth). So if it can break past this resistance point then you will most likely see a run past $7. All of these tiny points come into play because with our position, every penny is $10 more dollars in our pocket or out of our pocket.
To the future,
posted by Blain Reinkensmeyer at
9:38 AM
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