Portal software. PRSF

[Naz]

I Have followed this company for six months on my watch list.yesterday taking 25% profit out of its 58% run.

This ISN'T a tip but one to watch. All the way down this company has still being doing deals and has $115 million to help it thru the recession.Three weeks ago approx it was said by one analyst to have a 12 month upside of $2.It made that yesterday.It has risen 300% in three weeks.Something is going on.There was no news on it and the latest info i can find is this.

It has results coming out on Nov 15th.One of Prsf's biggest challenges is that the company is signing exciting new deals with big customers but is prohibited from announcing these deals.Customers buy PRSF's products for strategic reasons and often dont want competitors to know what billing solutions they're using.This makes it more challenging for PRSF management to communicate the the true nature of their sales to investors.

This stock has fallen from a high of $80 down to a low of 80c.This is for interest only and is no guarantee of any further upside after this short run.

 

[RogerM]

Nice trade Naz. Here's the 5 min chart so peeps can see what you're talking about.

 

[RogerM]

.............and here's the daily chart

 

[Naz]

Thanks for the graph Roger.

The reason i had the buy stop in at $1.60 was so that i didnt get head faked by the market makers when i wasnt looking at the stock.I,m now in the stock again with an entry in that consolidation.I,ve got my stop at $1.89.

There is loads of support at the bid.SBSH was abig seller for ages but his just gone.Lets see if i can take something out of it before the close.Otherwise i'll scratch the trade

 

[Naz]

OK
The comp and the dow are going for it .Theyre trying for a quick burst on PRSF.Prints have gone as high as $2.15,sold half at $2.13.SBSH has come back on the ask holding it back.SLKC is the buyer.Islanders wont pay up for thge stock at the moment.They're all backing off.Bids are falling,not suprised.

Dead nothing happening.Took 5.5% out of that burst with half the position .Stop now at $2 to protect the last 1/2 of the position.

Writing this as i trade it to give the feeling of the trade.I'll post it now as its gone dead

 

[RogerM]

.. and the latest chart + level2. All this from a free demo on Prophetfinance.com

 

[RogerM]

.. looks like a false breakout, and only a few mins to the close. Time to close out?

The Archipelago version of Level2 shown this time. Care to comment on the difference between this and the Island version Naz?

 

[Naz]

Right not long until the close and i'm baby sitting the last 1/2 of the position.

I,ve hidden the other half at $2.17 which is the best island offer,so any dipstick wanting to buy on island without level 2 will pick up my stock.I might as well hide it and refresh as were coming into the close and its better keeping there than doing nothing with it.Somebody just jumped in front of me at $2.12 with 5000.Another daytrader posturing.He'll pull that if we move up.Somebodys come on the bid on island with the same size to tell him they know what his game is.

I have got severn minutes to get out of this last half of the position.Big print went off at $2.10 ,somebodys paying up before the close.This is so slow its boring nothing is moving.Slkc moved up on the bid ,nite's come in higher they frightened sbsh whose now gone.3 mins left.I've replaced my order on the screen at $2.10 as there are prints going off now and again at that level.I missed the last little run because i was typing this.2 mins left my order gets taken at $2.10.Phew!!! 3.6% profit on the last half.

A total of 4.55% for the whole position in 45mins or what it would take a year to achieve in a building society,and more fun.

I hope this little live trading exercise may give a small idea of how i sometimes play the Naz.

 

[Naz]

Roger
Thanks for all the graphics.I was interested to look at them compared with what i was seeing.The one thing that i noticed was you managed to print the island book at the same time i hid my order at $2.17.so you can see the reason that i did that was because the best bid on island was $2.18.Anyone who only played off island and not with true level 2 would have payed $2.18 to get in and would have had a supprise with a price improvement and picked up my stock.It didnt come off but it was worth a shot.

Another thing that comes across is that you realy must have level 2 and not the isld book or arca book which look like level 2 but dont show the true picture of the stock because there are no market makers.

Roger i enjoyed doing that thanks for your fantastic input into making this thread so different.

 

[RogerM]

My pleasure Naz - and a great learning exercise. Is the Archipelago Level2 true Level2 or a watered down substitute?

And one final question. There are 482 registered members of this site. Where is everyone?

 

[Naz]

Roger there are about 7/9 ECN's of which Island,Arca,Inca and redi are the most well known.They all have their own book and the best bid and offer are placed on the true level 2 screen,along with all the market makers.

This is why you have to understand exactly what your broker is offering you.Last night Island was not very much in play and there was a great big spread on their quote.Something which at one time i was trying to take advantage of.

Now today i know in my mind who were the major buyers and how strong they were.How much presure they could take and who were the sellers.I know the support looked realy strong on the bid down all the levels,thats why it held for so long at about $2.The big up day of Monday helped bring in loads of players hoping for a quick buck.Also what happened when the Dow and the comp started to move at the end of the day?People were prepared to pay up for it and it was trying to start moving.Now armed with that knowledge i will look at again today and feel the stock to see how its playing.

Have the players gone?what are the major players doing?If the comp sells off what will the stock do be strong or weak.If indicies burst out thru their consolidation are they buying the stock?If they do i'm in because this graph to everyone is a pullback in an uptrend with major support at $2.If the stock has no apparent mood and is difficult to read i'll leave it alone and just keep an eye on it.

I cannot know this stock or trade it correctly without level 2 direct access.If i was playing it from a graph and an online broker i would not have been able to have taken that profit and i would also not understand what was happening with the stock.The graph would look the same the next day ,the level 2 screen maybe wouldnt.

My profits were eeked out between the spreads that everyone was offering their clients.I can buy however i like and i can sell to anyone i want.I hope this all helps.

One final word to anyone reading this. level 2 Nasdaq takes time to learn.Take a course similar to the one's that i run to learn it correctly.My e-mail address is [email protected]

 

[Naz]

In the first post i said that there was something going on at PRSF.Well there was.There always seems to be difficulty in finding news out about this company,but i have a little orginisation in California that always digs deep and gives me the info.Unfortunately it comes by post!

Here it is. We Know results are out Nov 17th but recent gains have been put down to.

Chairman John Little buying 800,000shares and CTO Dave Labuda buying 275,000 shares.

The company have just released version 6.2 of its flagship Infranet product and also announced an OEM deal with IBM to bundle infranet with one of IBM's enterprise UNIX server products.