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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 (94273)4/19/2000 11:01:00 PM
From: Jenna  Read Replies (1) of 120523
 
After a superb earnings report IRF gapped up a little over a point and finished up 5 1/2 from gap. It was not necessary to hold through earnings to get that earnings play. On the other hand, the more 'popular' stocks will have gapped up in the morning (i.e. CMTN, QCOM) making entry actually at the high or top of the gap.. We are all guilty of the temptation of holding something through earnings, but I would really advise NOT to give in to the temptation. The stock is not going anywhere.. if it gaps up you can short right at the climax and it begins to fizzle (of course general market indicators are important in these situations)..

If you will notice most 'runups' are only 1 day affairs...Gone are the days when a runaway gap will move the stock up past the gap up in the morning and last for an appreciable amount of time. Now if stocks like ALLR weren't entered timely when it was only up about 1 1/2 points, you risk getting in on the top of a gap up and having it sell off.
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