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

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To: nikosp who wrote (3823)2/5/2001 6:18:35 PM
From: Jenna  Read Replies (1) of 6445
 
MUSE, excellent perception right! we called this Friday as well but were surprised it didn't really back down as much as say MERQ did. MERQ powered down nicely into the close on Friday and continued almost exactly where it left off (see the 15 minute two day chart for MERQ). We mentioned that we thought today would be crucial as MUSE should really back off like others have and today it backed off very solidly right from the gap down. There were a few traders who might have covered by 11:15, but most were short thorugh 1:00 until that bullish bar at 13:55 on 5 minute chart coinciding exactly with the 2:00 reversal period.
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