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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: iod_sherwood who wrote (115185)10/11/2000 8:47:55 PM
From: Jenna   of 120523
 
Feasting in the Garden of the Nasdaq I don't really care if the market is up or down. Actually when everyone comes out of the woodwork and the 'coast is clear' in an rally market its usually too late to make the big money. Its those beginning reversals that are the best, to the upside and the downside, short and long. I expect Thursday and Friday to be fraught with surprises to the negative and positive but I'm not waiting around for lows of the day or highs to cash in. Its not easy to gets in or out on time, when you are just long. Traders see the stock down and yes they were out, or the stock move up and yes they were holding. But if you can get the short and the long side, you don't have to chase the longs that never say up longer than 1/2 hour. You don't have to time the market exactly because you make money on both ends. On the long side you have to catch every drop of 'wine' because there's no telling when you can make money long the next time.

The only difficult thing in a market that has been down for the past few days is knowing when to cover the short when the stock breaks double and triple bottoms to the downside. That's because you have a full stomach and start hiccuping, downright overweight from so much feasting, but there's still more. The downside so far has so much more tenacity and longevity than the long side. When we have a bona fide rally, we can short again and then the cycle starts again.

I had trouble deciding when to cash in NEWP puts, and I did but if NEWP, CIEN moves up in the next session or two or reversal period or two, then we can short them at the very first reversal down. There were some very fat cats that crashed in the last 7 sessions or so. They will gain some weight and crash once more.
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