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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Andrew G. who wrote (93823)4/18/2000 12:09:00 AM
From: Jenna  Read Replies (1) of 120523
 
Andrew, I stopped following them when they began to sink out of play. We still have two good weeks of earnings and I'd rather stick with earnings plays. WEBT and GNET for example got caught in the internet selloff but WEBT and GNET are great earners and its those type of 'surprise plays' I like. I'm hoping both AUDC and ALLR do a "WEBT" dance. I am also ready for whatever goes down tomorrow. I'm really not a 'shorter' at heart, but my natural skepticism of stocks to sustain a move up of 35-48% in one day will lead me to try a short or two. I usually wait for a notch above the high (as it moves down on one or 2 10 or 15-minute bars). If I'm wrong I exit even before the stop kicks in. Usually I am short right before the close ( a high flyer that seems to have flown to high) which makes for a good gap down the next day or a morning short of a rally gap up like a "NEWP" which moved up on the get go and I shorted as high as I could get in. That way there is less timing problems intraday.

An interesting result of the 'correction' is that there is less 'runaway morning gaps' and more of selling into the gap up (after a good gain the night before or good gain on earnings news). I find myself 'selling' the earnings news even when its good but only after the stock has a chance to react. If your stock is going down (i.e. bad earnings report, there is not much you can do if it gaps down and heads down into an abyss like TERN), there is no time to short, but like AMD (2nd and 3rd day), PWAV (second day), (CHKP all three days) and even ALTR sold off the SECOND Day. Now its too soon to make any value judgments or even back test these theories, but they have worked for quite nifty gains so far.

On the other hand, I'm really hoping WEBT, ALLR, GNET, and AUDC don't sell off because they hardly had a chance to get going.
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