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Strategies & Market Trends : Momentum Stock Plays
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To: gentry200m who started this subject1/11/2001 3:37:44 AM
From: gentry200m   of 270
 
January 10, 2001 Breakout Results:

(Format is Symbol, Company Name, Resistance, Day High, Gain from Resistance, % Gain from Resistance)

ACTM--ACT Manufacturing--$16 1/2--$17 13/16--$1.31--7.94%
ADIC--Adv Digital--$26.00--$28 1/4--$2.25--8.65%
SAPE--Sapient--$17 1/8--$17 3/4--$0.62--3.68%

There weren't many that broke out from the list today, but the one's that did were pretty good. I played them all except SSOL which gapped past Resistance at the open. I traded out of SAPE when the market rolled over in the early afternoon and sold both ADIC and ACTM towards the close. ACTM looks like it has a little more overhead Resistance, but it could run more if the semis keep doing well.

The Nasdaq gapped down at the open and bounced nicely off of my trend line. I would prefer to see a continuation in the rally for another day or so before I short. If I'm not mistaking, the last time we had 3 consective positive days in the Nasdaq was in August. Hopefully, we'll get that third day tomorrow
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