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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: kendall harmon who wrote (65519)10/11/1999 12:20:00 AM
From: Jenna  Read Replies (1) of 120523
 
HIFN..was a shock although there were a lot of signs on the days prior, especially when as HIFN was deteriorating with low volume, while other stocks were perking up and exploding. When a high profile, picture perfect chart, and superior EPS growth stock like that goes sour like that it is unusual. It happened with YUM which didn't recover. I was in the stock on fifth myself and it was only the deterioration towards the end of day that got me out. It did great on the fourth but like I said gave a warning on the fifth.

A dead cat bounce is in order for sure, but its too soon to tell how many 'holders' will use any and every bounce for another opportunity to exit. I anticipate a 'triangular' formation until all sellers are shaken out at every rally, until no one is left and only then a serious retracement is possible. I would be fearful of every rally leading to another selloff, but it would be good to trade.
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