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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (16202)10/5/1998 5:52:00 PM
From: Jenna   of 120523
 
Where were you when the market "turned"? Were you nursing stocks that were tanking more and more as the day lingered on? I'm amazed at how many traders don't exit losing stocks while there is still time. We all saw that the technology leaders had already fallen below support on Friday. Just DELL was the last that fell below support today. Were you able to exit this morning with minor losses and prepare for some kind of intraday activity? Better still would have been to start today in cash, but that can't always be the case.

This market will be full of surprises, but if you don't have capital you won't be able to profit from turnarounds when they occur. There were a score of stocks today that either turned, were great for puts, or were 'defensive' and would have provided profits if you were in cash. Some threads were still harping on, and holding onto stocks that were down all day today hoping for a rebound tomorrow. If tomorrow is another downer than it's another lost day of possible profits and worse, more losses.

We might have to be daytraders for another few weeks, but it beats holding on to the MER's, CSCO's and BMCS's out there waiting for them to rebound after they tank 10 or more points.
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