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: robsiv who wrote (118359)	12/6/2000 6:21:29 PM
From: Jenna	Read Replies (1) of 120523

Gap Ups and Downs.. no it is not an automatic buy.. simply because say the Pivot point for CHKP was 135 1/2. Now say CHKP opens at 138 does that mean its an automatic buy? NO... because it can open at 138 and by 9:50 or 10:10 it can be 135 1/2 but on the way down. That is why it is so very important to take into consideration the Leading Market Indicators ► NQ's and SP00Z (the future contracts of the Nasdaq 100 and Futures of the S&P), ► Fair Value spread, (subtract the S&P cash from the S&P futures)..you don't have to do that yourself, you can see that in the morning on CNBC. If Futures are trading above fair value buy progrmas will be set off. ► The TICK measures the net number of stocks that are upticking versus the net number of stocks that are downticking. ► The TRIN measuring the ratio of advancing stocks to declining stocks and comparing it to ratio of advancing volume to declining volume. You should be trading in the direction of the dominant trend. In fact when we were having that fun today at 1:50 we were not looking at the stocks at all but just taking our cue for shorting from the PRICE OF THE NQ'S AND WHERE THEY WERE HEADED. ► The Financial Stocks are the life blood of the market. When they went, there was no hope for a rally. How can you rally, when the economic srength as weighed in the performance of the financial stocks is compromised? The S&P tanks and the technology sector already built on loans have to pay more now for those loans, cutting into profits and growth. If you check out the price movement of the short plays they will be replicas of the drop of the NQ's to the day's lows at 1:55 when we declared the 'cardiac arrest'. So its a matter of which is the strongest and its the internal market indicators. It seems to me today that the market was being held up by excessive enthusiasm in the morning and we should associate that with a topping. When the market strength seemed to lie with the 'walking wounded' like AETH, ONIS, SCMR, NUAN that was just too unreal. Everything toppled.

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