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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (87314)3/8/2000 12:29:00 PM
From: Jenna  Read Replies (1) of 120523
 
<<Stock # 8 March 6 Watch List>>. triggers 27 13/16 after the ADX slopes up above 25, broke above 20 period moving average on the 15 minute chart. Stochastics broke out as well but I'd still wait and put in a buy stop at 28 1/2 and see if the stock is capable of retracing earlier highs. This is how TMO began its ascent but it might not work in a very down market.

What you don't want to do is get in on a stock because of 'crowd pull'. Some stocks can be just at the end of an up cycle and today is just the climax of an uptrend. You should try for stocks that

a) have just not been recognized yet but have a quality service, drug, or potential and something has been confirmed beyond rumor. Is there a conference (i.e. biotech, wireless cable, internet telephony, etc) on the horizon that might highlight the stocks attractiveness. Just because a 'website' sends you an e-mail on a hot stock is no reason to get a stock.

b) Don't get a stock because it reached a 52 week high, that is not reason enough to get into a stock.

c) Historical price patterns are so important because you can see how this stock acted in the past. Is this a brand new rally? Is this number 3 one on top of each other with no corrective moves and is it spiking so high its bound to correct? Is this a 'stair step' 3rd or fourth rally to a higher higher after a 3-7 period correction? Has the stock been basing for a while and trying to break out? (OPTC)

d) Does this stock have strong fundamentals to back your faith in it?
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