Market Gems-Trading Strong Earnings Growth and Momentum Message Board

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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum

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To: Bill Cotter who wrote (3743)	2/4/2001 11:16:29 PM
From: Jenna	Read Replies (1) of 6445

Become a MARKET CHAMELEON Some of the breakdowns you might expect this week: NVDA look for 46 for a drop of next support and double bottom sell signal, CHKP continuing short (135 or 140 puts Feb), EBAY look for 45 as the 38.2% retracement from 4 week low to 41 3/4 the 50% retracement. RFMD look for 18 1/2 for a "triple bottom" breakout and sell. IMNX looking at this as a barometer for the biotech index (also the .BTK and BBH) if IMNX breaks 29 its in freefall, and many of the biotechs will continue to be short bait (see CRA, GILD, CORR). The rule of thumb is stick with the high multiple p/e stocks for shorting and strong stocks on moves off the rising 10 or 20 day moving average. Ironically a number of techs that are scheduled to report earnings this week are on their way or already have made double and triple bottom breakouts. If you can't get upticks, then go for the puts. Hold those puts for a while longer. We got FNSR in the 'heart' maybe CCMP and DPMI (hard nuts to crack!) will crack this week. Than if all improves, we go long

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