iPass (IPAS)

Company

"iPass makes the enterprise more productive by enabling remote and mobile workers to connect simply and securely to their corporate network across wired and wireless providers in over 150 countries." (company website)

Buy

8-Apr-05. iPass has been bouncing along for several months at $6 and above (see sidebar). A week ago the 50-day moving average turned up again, and there is good price momentum (PPO). Maybe this time will be the charm, maybe not.

Sell

28-Apr-05. IPAS released earnings yesterday. Although revenue was up, the company issued lower guidance for the next quarter. The Street slammed IPAS stock. I grimly held on until this morning to see if perhaps people would think the market had overreacted and bid IPAS back up. It didn't happen.

Once again I've proved to myself what I "learned" long ago — holding a stock on earnings day is very dangerous. Especially when the market is looking for an excuse for a sell-off, as it seems now to be doing.