Stocks to Watch Today – ISLN
Wednesday, September 8th, 2010
Add ISLN to your list of stocks to watch.
ISLN – Currently trading around $24 and on a huge uptrend. There is speculation that this is the next buy out in the storage arena. However, we do not think this company is going to get bought out. It is already trading near the high end of the price target and is becoming very overbought. That being said… technicians will have a field day with this breakout today. Shorts that don’t know what they are doing might get their heads ripped off by using the “all gaps must be filled rule.”
Trade Idea – Watch for a pop at the bell and then look for it to pullback. This is setting up for a nice 1-4 day short when that trend line on the day chart gets broken. We might anticipate the pull back and jump in early, but we are going to have a super tight stop if we do this. Stocks with this kind of momentum can feed on themselves and continue way beyond the actual value of the stock.
Isilon Systems, Inc. designs, develops, and markets network attached storage systems for storing and managing file-based data, including video, audio, digital images, computer models, PDF files, scanned images, reference information, test and simulation data, and other file-based information, as well as other unstructured data worldwide. Its products include Isilon IQ Platform Nodes that supports gigabit Ethernet interfaces for intra-cluster communication and provides front-side communication; Isilon IQ Accelerator-x, which enables customers to increase the performance, or aggregate write and read throughput of their data storage system; Isilon EX 6000, EX 9000, and EX 12000 products that increases data storage capacity; SyncIQ replication software application that provides asynchronous file-based replication to one or more Isilon IQ clusters over WAN/LAN IP network; and SmartConnect Load-Balancing Software application, which streamlines connection management by automatically distributing client connections across individual nodes in a cluster based on defined policies. The company also offers SnapshotIQ Protection Software application that helps in the enterprise-class protection for clustered storage; and SmartQuotas Data Management Software application that helps enterprises to control and limit storage usage across their organization, as well as provides Isilon clustered storage for storage solutions. Isilon Systems sells its products indirectly through a channel partner program comprising value-added resellers and distributors, and directly through its sales force to media and entertainment, Internet, life sciences, manufacturing, manufacturing, oil and gas, cable and telecommunications markets. The company was founded in 2001 and is headquartered in Seattle, Washington.
Daily Chart ISLN – *Breakout, *Volume Confirmation, *Gap Up
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