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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 (90529)3/28/2000 10:22:00 PM
From: Jenna  Read Replies (3) of 120523
 
FLEX, one of my favorite stocks will be a sell tomorrow after nearly three months as I think its nearing a short term correction. My suggestion is usually to sell a stock that is an intermediate hold the day it hits its 52 week high. It usually corrects after a new high and you don't need even 10% of a correction. I would even short a new 52 week high on stocks you are familiar with (i.e. ELNT I shorted and got 9 points). It happened with TLGD, sold and it happened with PHTN, not sold, TTIL sold but waited a little to long there. The best time to reenter is on a reversal signal 7-10 days AFTER a new high or even up to 20 days. Usually the best 'trackers' of reentry will be the range expansion and contractions indicator, bull flags/pennants, doji's etc. and of course the ADX explosions and the inimitable 20 day moving average breakouts (fits right in with 20 days after the 52 week high)

Every reversal should be accompanied by high volume or you'll get a one day pattern that leads nowhere.

The reverse also true. (not a 52 week low, G-d Forbid) but I would buy on dips the very few stocks like SEBL, BOBJ that have dropped below support temporarily (the bottom of a linear regression, standard deviation or Least Squares (LSQ) channel. Whatever you use its still about the same tight channel. The tighter the channel, the better the trade and the more predictable.

They have historical price patterns that are pretty predictable and barring what happened with MSTR and proper precautions like stops, trailing stops etc. it usually works (only about 10% of trades however should be taken on that are that risky)
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