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Take profits on US Dataworks (UDW)

Posted August 16, 2008

US Dataworks (AMEX:UDW) is up almost 20% over today’s open. Time to take short-term porfits!

by J. Christoph Amberger

Baltimore — (TFN): Houston-based US Dataworks (AMEX:UDW) soared almost 200% to 27 cents on Thursday after the company announced Q1 revenues.

The company develops payment processing software for the top banking institutions, credit card issuers, major retailers and the U.S. Government.

That day, I wrote: “I expect the company to open higher tomorrow. Given its current price, I believe an additional gain of 50% is possible. But this is a volatile pick that calls for close monitoring of stop losses.”

UDW opened up at $0.43 Friday morning and promptly advanced above $0.50. But it’s Friday, memories are short, and 107k in surprise profits certainly isn’t worth holding this stock. If you managed to buy at the open, take ultra short-term tailcoat-riding profits above $0.50 now.

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Posted by J. Christoph Amberger · Filed Under US Stocks and Markets 

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