In Tuesday evening’s Forecast Report, Blue Coat Systems (BCSI) offered a potential long entry point for early Wednesday at 25.67 up to 25.90. The stock tends to widen its news-driven evening performance the next day, though light evening volume clouded this call a bit.
BCSI suffered from thin volume this morning as well. The stock opened near 26 and late in the session did briefly pull back to 25.85, within our target. Long traders who jumped at that level were rewarded, as the regular session range has been 26.05-27.88. A buy at the 25.85 pre-market low, as measured to the 27.88 high, is 7.9% in the black.
