Great Trades

Great stock trades based on fundamentals and technical analysis.

Wednesday, December 14, 2005



MVCO has had some nice follow-through on its Head & Shoulders breakout this week, hitting $14.80 yesterday before pulling back to close at $13.81 yesterday. ORCT also had some nice follow-through, moving up $1.30 yesterday and making a new post-earnings high. SFCC announced improvement on their Miami structural issues and a conference call on Thursday morning to discuss recent issues. OVTI released its 10Q, and its biggest detractor, Herb Greenberg, couldn't find anything substantive to discredit the earnings after his earlier comments that it "smelled fishy" and his comments to "wait until the 10Q comes out." OVTI also got a nice bullish writeup from Schaeffers research today: "But a short-covering rally might be in the cards. A very, very big short-covering rally might be starting to happen, in fact... Anyone who bought at $15 back when I was wondering about OVTI, will probably double their money soon."

Another stock that may be good for a rally is CUTR. Cutera, Inc. (CUTR) engages in the design, development, manufacture, and marketing of various products for use in laser and other light-based aesthetic applications. Its products enable dermatologists, plastic surgeons, gynecologists, primary care physicians, and other practitioners to offer noninvasive aesthetic treatments to their patients. After ranking #1 on Investors Business Daily's IBD 100 list of top stocks this weekend, CUTR lost over 34% yesterday after news was released about a federal judge denying their motion for summary judgment in Palomar Medical Technologies' patent lawsuit against them. Most summary judgments are denied, as they would immediately end the case and this one would have invalidated Palomar's patent, but CUTR shareholders panicked anyway. This 4-year old case will likely drag on for a few more years with a jury trial likely in the spring followed by appeals. I think the big selloff was an overreaction and CUTR will get a retracement rally today. You can see from the chart that CUTR dropped right to its 100-day moving average, which should provide support for a bounce.

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Disclaimer: Great Trades may have a position in all or some of the stocks discussed in this blog, but is not paid by any company to promote their stock. Great Trades contains opinions, none of which constitute a recommendation that any particular security, transaction, or investment strategy is suitable for any specific person. Great Trades does not provide personalized investment advice.

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