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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 (61925)9/18/1999 3:57:00 PM
From: Jenna  Read Replies (4) of 120523
 
VRTY and this week's Newsletter Theme (for newsletter of September 20-24)http://www.marketgems.com/CHARTTEMPLATE14.html
Newsletter for this week will be a 'theme' newsletter much like last week was based on a them(cup & handle chart formation)

The theme this week will be "High Performing stocks with Strong Long-Term Technical Rank that are undergoing Short-Term Corrections". I have found that even very higher EPS earners and other stocks with a 52 and 26 week performance rank in the 90th percentile and above suddenly fizzled (without news of course to justify the fall of about 15-20% or so in the last 3-6 weeks). In this case of VRTY was an extreme illustration of 'fizzle' although its performance was in the 98th percentile for the last 52 weeks. It would be preferable to look for charts with less extremes in Accumulation/Distribution.

VRTY worked out however simply because it was a repeater from last quarter with a 31% Earnings Surprise and breakout on anticipation. VRTY did the same thing this week, but with a 61% earnings surprise.

Since there are only a handful of earnings plays that are looking 'hot', it doesn't really justify a newsletter around them. Like ESIO and ADBE from last week we could track the few in the watch list.
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