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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 (116833)11/16/2000 4:22:58 PM
From: Jenna  Read Replies (1) of 120523
 
I said that yesterday the worst thing you can do in this market is take any rally, pick out the stocks that moved up in momentum without any clear reasons and look to go long on the SECOND day after that rally. Most people see downtrending stocks that finally move up ONE DAY as a reversal or recovery when actually they are setting up as short bait. What is a short? It is either a very strong stock that is backing off its 10 or 7 day moving averages for a 'pause' that refreshes and this is rare lately. Or a very weak stock that has been in a downtrend, moves up one day and everyone is knocking themselves out trying to get into this 'reversal'. It is actually a 'pause' in the downtrend, and a very good 'platform' from which to establish a position right before the next dive down.
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