WaveStrength Trading Tactics for November 21, 2006
GOOG, JWN, MWRK, and DD
By Bryan Bottarelli
As I mentioned this morning in Radar, Google (GOOG:NASDAQ) and Nordstrom (JWN:NYSE) were two of the top stocks in focus today, as GOOG shot past the $500 mark after unveiling discounts for online shoppers who use its payment service during the holiday season.
Shares of Nordstrom also moved 5% higher, setting a new 52-week high at $50, after the high-end retailer's numbers echoed the positive growth from what we saw out of Kohls and Dillards late last week.
But the best stock of the day is my favorite maternity company Morher's Work (MWRK:NASDAQ). As I write, the stock is up over $9 to a new 52-week high at $56 and looking to go even higher.
As a pure play on expecting mothers who still want to look stylish and hot, MWRK has the market cornered. In fact, they get away with charging exorbitant prices for maternity clothes simply because no other company offers anything that's close to stylish. Throw into the mix their no-refund policy, and you have a stock that's benefiting big time from the mini baby-boom we're currently experiencing in this country. I liked the shares at $30, $40, and $50. And I still like them now.
Not to be outdone, Adam and I will be coming out with our latest WOW play after today's bell. As Adam mentioned, after years of lackluster performance, this company is finally showing signs of sustainable upside momentum and we want to take full advantage of the continued bullishness. Based on our projections, we expect to make between 52.9% and 170% over the next 4-12 weeks.