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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: briskit who wrote (1698)1/14/2001 9:38:29 PM
From: Jenna  Read Replies (2) of 6445
 
Tuesday is only January 16.. that's about 8 sessions during which a number of these companies report. Some on this list sport P/E's of 200 although I like AVNX which I might pick up agan this week on the long side and FLEX after a big move on Thursday pulled back on Friday and I'd wait until this one finished correcting before diving into any water. BEAS and GLW still have P/E's well over 80 but GLW I would wait for its earnings on January 22 before committing. Why buy during what could be a sell off this week? Anyone who could say buy JNPR now probably said buy ARBA last Thursday. JNPR is reporting earnings on Tuesday and anyone that suggests we pick up a boat load of tech stocks BEFORE the earnings report should be ignored or worse. It was okay to pick up ARBA for the Anticipatory Upswing but there were more people that lost money on ARBA after that move down on Friday and I for one don't need to buy than have the position lose another 10% a day later. I think we should tread lightly and not be fully invested in technology but diversified as many sectors are still enjoying double digit earnings next year whereas technology will be in a slowdown. We have played the FED game many times and yes we should have some good quality low P/E tech stocks by the 25th and JNPR might very well be one of them because it might move down enough until then to be attractive as more than a great trading stock.
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