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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 692.76

+0.5%

Jan 26 4:00 PM EST

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To: xcr600 who wrote (24303)	11/8/1999 9:48:00 PM
From: Suresh	Read Replies (1) of 70070

Hi XCR, secondaries can be and should be used as true indicators of institutional or strong or momentum hands support for the stock. It is better to make a mental note of the stock action wrt a secondary offering. JNPR, BRCD, SDLI all have completed their secondary and have recovered very nicely indicating strong support for the stock. FFIV also looks like one of those stocks which will recover fast. But others are big question marks (SCNT). PHCM seems to fall in the category of strong stock. News of its secondary dropped it from 240+ to 200+ but it has recovered all of its loss. I guess momentum guys jump in and push these stocks higher once the overhead resistance is taken out. So, for trading purposes, it is good to buy the dips on strong stocks and short the heck out of weak acting stocks after the secondary. BTW.. NEWP is being accumulated by big guys. >Cash flow and volume has been incredible. I think it is more churning than new money in the market. Later, Suresh

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