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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: nokomis who wrote (67187)10/21/1999 8:05:00 AM
From: kendall harmon  Read Replies (2) of 120523
 
Nok, this is such a great question, and it is so hard to answer well.
I am sure other better traders like Jenna will have more to say.

I have three thoughts to add:

(1) There is no substitute for intraday technical analysis as an aid.
It is not just that a stock is up big but HOW is it up? Is it seeing higher highs and is that shown one the one minute and five minute bars? Those are the ones to be in. MICTF yesterday was a good example.

(2) It is a very good discipline in these situations to take partial profits on the way up. I am often amazed at how few traders do this.
Simply decide ahead of time that if a stock rises a certain amount you will sell 1/2 of it or 1/4 of it or whatever. This will up your comfort level and allow you to ride the rest of your position higher.

Example: yesterday I bought a small position of IIJI at 51. It was already up big. I took a profit on some at 51 1/2 as a discipline, and rode the rest to 53.

(3) The only other point to make is that you are really onto something.
Stocks that go up, go up, and stocks that go down, go down, is not a universal law, but it is very often true. Failing to enter stocks which are up a bunch already is a mistake many newer traders make. And they often go still higher.

Just look at the moves in MSTR and CTSH over the last month for support of this final point.
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