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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 (99907)5/30/2000 5:24:00 PM
From: Jenna  Read Replies (1) of 120523
 
CMVT +44% surpasses INTU +42% as earnings play of the Monday of May. You don't need a ton of earnings plays or stock picks to concentrate and focus on the 'creme de la creme'. We still have our energy stocks, of course they were shadowed by the tech stocks like CLRN,AMAT,FLSH and SNDK,etc, but in the long run.. I would really be careful here, these huge rallies will meet with selloffs. I would not be a holder of 'huge positions'. We should do very well with
'manageable positions' and you can load up for intraday trades but don't take home huge positions. I keep some just in case this really has legs, but most likely after large double digit gains I'm getting my 'target price' in 1-4 sessions. There is no way tech stocks could sustain 12-20% gains in 1-2 sessions, its not natural and I'd be very cautious.

Also don't be entering stocks on 52 week highs, wait for pullbacks, or you'll get stuck in a correction. Don't always look for the best overall chart, look for the best overall 'reversal'.. I like to look at charts with good 26 week highs, but that have moved down considerably in the past 6-8 weeks. I am not looking to go long stocks that are reaching new 52 week highs in the past 6-8 weeks, they will inevitably sell off as a corrective move will hit them as well.
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