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: Jenna who wrote (115370)	10/17/2000 9:23:50 PM
From: Jenna	Read Replies (1) of 120523

Is it time now for the elusive short play? The fact that tomorrow will be a down opening is not much doubt.. What will move in the first five minutes could tank in the next five. The question arises how much will it tank before an intraday bottom is reached? Is the fact that ITWO, AETH, NUFO, MERQ, FDRY, CMTN, IBM and a score of techs will tank probably at the open prevent us from shorting. Not necessarily, there are still 'fat cat blimps' left over with hugh valuations that will be the next "NEWP" tankero. So a minor gap down might lead to a major move down. We will be able to tell if we follow those overgrown blimps that have eluded shorters for so long (the MCDT's, the CIEN, etc) and note if the magnitude of the move down INCREASES by the 9:50 or end of the 10:10 reversal session. The second thing to do is stick with the few sectors (not necessarily pharmies because I see some tankers there also like MLNM) but reaching further into our arsenal of upcoming earnings reports, and sectors that have moved up to 'leading' in IBD.

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