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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: 2MAR$ who wrote (115751)10/28/2000 6:24:09 PM
From: Jenna  Read Replies (2) of 120523
 
HAND..there is nothing better than 'confirmation' of trading ideas. I didn't like what I saw on HAND after research the night before, and TraderXx confirmed it with a timely 'find' on the morning pre-market. Great work and a great short. Similarly, on our forum, a subscriber posted immediate news on BEAS, and we shorted within moments understanding instantly the implications of a "analyst downgrade" .. whether we admire or dislike analysts and opinions, we have to follow the trend. To go against the trend and catch a falling knife like HAND or BEAS means you don't have the right rules for daytrading and are trading on momentary impulse. When another opinion confirms your own or your 'game plan' gets triggered the moment the right stimulus is triggered mechanically, you are following rules.
example: Stimulus -----> BEAS is downgraded about 2:11 in the afternoon Reaction ------> shorting because you already know BEAS is overvalued, you have looked at the chart previously and the market indicators in general are weakening. ... in the past 100% of the time when a company is downgraded it moves down. The beauty of the intraday downgrade as opposed to the morning downgrade is that you don't get a gap down at the open, but you have those few critical moments to make your decision based on historical patterns.
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