Forecast Report - OVTI, GES, BCSI

Forecast Report Update: OVTI Long and Short Targets Hit

In last evening's Forecast Report, Omnivision Technologies (OVTI) indicated a potential pre-market open Friday near 19.60 to 19.90. On the long side, buyers were most active at 19 to 19.50, levels seen as a potential floor for a play early Friday. More risk tolerant longs were advised to sit closer to the 19.60 to 19.80 range. On the short side, sellers were quick to dump out on several passes above 19.80 in night trading, a potential play for early Friday. Early Friday, the stock ranged between 19.80 and 20.41. A move in at the 19.80 target, as measured to the 20.32 regular session high, was 2.6% in the black. On the short side, a sell at 19.80 also paid off modestly, as the shares moved as low as 18.81 in regular trading. That move was 5.2% in the black.

Forecast Report: GES Targets Prove Elusive

In last evening's Forecast Report, Guess (GES) signaled a potential pre-bell open surrounding 35.50 to 35 and an early long entry point in the 34 to 34.80 range. Short plays looked less likely on this particular issue, but the 35.84 to 35.50 range was one possible area of interest. In pre-market trading, the stock ranged between 35.50 and 37.37. The stock failed to drop down to our long target range. A move to sell at the 35.84 short target was not followed up with the expected decline. The day session range was 37.25 to 39.23.


Forecast Report: BCSI Misses Targets

In last evening's Forecast Report, Blue Coat Systems (BCSI) signaled a pre-market open Friday near 24.50 to 24. A possible short entry point at 25 to 24.50 emerged. On the long side, more risk tolerant buyers were told to consider a move in at 23.61, up to 24. In pre-market action, the stock ranged between 22.87 to 23.96 and was held to an even tighter range of 21.83 to 23.42 in regular trading, missing our targets.