Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: kalakoa who wrote (96809)	5/9/2000 12:48:00 PM
From: Jenna	Read Replies (3) of 120523

NTAP sure I like it but you can wait for the today's 'good news' to sell off which it is and get in on a lower price. 67 would have been a positive move to show the trend has really reversed but NTAP pulled back to 64 3/4. Since we are not looking for a daytrade but a position trade here on a stock that has corrected down nearly 100% I would consider entering today on any further reversal to the upside. I don't think its coming and if the reversal to the upside does not come, you can buy NTAP even more cheaply tomorrow. I do pay top dollar for clothes sometimes because I don't have the time to find sales in my favorite department stores, but I won't pay top dollar for new short-intermediate holds when I can get further discounts. NTAP was fine for a swing trade when it broke the downtrendline to the upside, but the trade is over and NTAP moving down from 75 to 65 in another short term correction. There was no need to hold the stock through this correction. The chart is forming a bearish pennant and if it were not mentioned a little positively today it probably would have been down with the rest of the sector.

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