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 (117335)	11/27/2000 10:08:52 AM
From: Jenna	Read Replies (1) of 120523

#3 today's watch list triggered a short at 23 when it failed to continue an upmove after the initial gap up. We see a tired stock here after giving too much too soon. We already have 4-5 shorts this morning among the 'rallying' market.. NQ's are now filling in the gap up and are on a steady 4 bar decline on the 5-minute chart, the stochastics overbought since 12:00 on friday, are now turning downwards, the RSI is turning down already. An overbought situation is not critical in and of itself, but when the indicators turn downward through the 70 line, that is not a great sign for a continued rally at that point in time.

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