Bargains..! IBM, JDSU, AMCC, CREE, QCOM, BVSN.. Lets wait longer. We noticed the buy triggers between 2:15 and 2:40. In a normal day we would have closed up 8 and 10 like we did on PROX on Tuesday. But it was not normal finding a genuine breakout and 30 to 90 minutes later its back in selloff mode, not near a close when the rally should have stayed strong. I'm amazed that some held up although others became good shorts. Probably tomorrow's open will be a gap down and sell 'shorts' into the gap down, following another mini-rally, but I hope it will last longer. Meanwhile the medical instrument sector, energy, generic drugs, and certain food and drink groups will stay buys.
You will know when to hold, if a rally fizzles I'd never hold those that fell back more than a few points. How I did the energy sector was just picking up single stocks, they just never triggered trailing stops or any kind of stops. The tech sector will be like learning to walk again, rather than running the marathon. We hold until there are no trailing stops or stops triggered, all in the perspective of the general market direction. If the market direction is awful, single stock rallies won't hold up. I had a few single stock rallies in the tech sector, but when I held overnight, they fizzled.
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