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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Brister who wrote (81435)2/2/2000 12:14:00 PM
From: Jenna  Read Replies (1) of 120523
 
Brister.. I know tonight I will update the 'lights' on the calendar as well as the NEW earnings plays that I will be having ready tonight. I am still waiting for the bulletin board to be configured. When that is ready we'll have lots of intraday charts there. The Watch List stocks actually have triggered when they come on the list as the fundamentals don't really have much of a weight. So what you are waiting for is actually a CONTINUATION of the uptrend. Also the watch list for today was more theme oriented. The theme being: "Formerly strong stocks that have sharply reversed downward with very oversold stochastic".

Now technically most of them triggered on Tuesday, but for a continuation of an uptrend, a CONFIRMATION would have to be the following day on high volume. If they all had green traffic lights it might propel traders to get in precipitously. They would in essence need 'yellow' lights. The earnings plays, much stronger usually fundamentally, have the added impetus of the earnings report before them, so the more they are depressed beforehand (i.e. BOBJ) the better chance they have of maintaining their anticipatory upswing for a longer period. A "green light" there would hold more significance.

Now when we hve very strong stocks like BVSN, RNWK, SNDK or such that beat estimates soundly, they are usually repeaters and will ALWAYS trigger new buy signals so again, these green lights would be significant (BVSN yesterday, RNWK today)..

When our intraday updates will be ESP oriented, the buy triggers will be more automatic, but there is no substitute for chart following. Its just a matter of whether you are inclined to hold through some dips in stocks like ORBK, BOBJ and set a stop at 5% which is what I did on FORTY and got stopped out after an uptrend. The next day FORTY gapped down but I was already out.
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