EEFT trade for 2/10/2016

Posted By JM on Feb 10, 2016 | 0 comments

Another company destroyed by earnings -- today's stock of the day goes to $EEFT (Euronet Worldwide). The company reported inline earnings but missed revenues by -6% compared to estimates, and provided inline next quarter eps guidance. We were watching the stock when it was -16% for the day. Suddenly it tanked to -24% and we felt it was way overdone to the downside so we started to bottom pick some as soon as the tape showed that an aggressive buyer came in to buy up stock. Because of our tape reading skills we were almost able to buy $EEFT at the dead lows of that landslide move.

We rode it up almost +$2.5 points in 15 minutes and walked away with an easy profit of +$2,229.


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