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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: ynot who wrote (56102)8/17/1999 11:31:00 AM
From: hjz  Read Replies (2) of 120523
 
ynot, you are right, traders took profits in the morning because they are hedging their bets for the FOC meeting. They don't want to be surprised and have had a good run since the beige book on last Wednesday. As for PHCM, alot of people pumped this stock up and then in turn shorted it, I saw that you were consistent about your short and should be commended on it even when the stock was up alot yesterday.

I liked the stock last week and yesterday when I saw strength in the buying but I won't be playing the short side on it when it falls. I like to pick stocks that show potential of strength but I am not like others who pump up a stock just to short it when it gets high.

I think people who can short a stock when it gets high are very skillful and knowledgeable. However, traders who pump up a stock all week and then short it because they know that there is no reason for the high stock price are just greedy and untrustworthy.

Good luck on PHCM and RHAT, you will definitely do well with those. It is too bad for RHAT, the company will really well but the stock price just got too high for the valuation. I will be back on the long side when the stock returns to a normal price.

HJ
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