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: Dave Gore who wrote (5894)	3/6/2001 10:44:26 AM
From: Lane Hall-Witt	Read Replies (2) of 6445

Dave: The rally in the SOX has been unreal -- incredible. It's up about 25 percent since, what, last Wednesday or Thursday. And that's in the face of a relentless wave of earnings warnings and guidance that says there is zero visibility. There's a lot of happy money following those couple of analysts who are pounding the table, saying that business is picking up and we've seen our bottom. It makes for a good trade, anyway. Just as a reminder to people to be prepared to take profits: that NUFO warning last night was horrifying. Remember that it was just five weeks ago that NUFO came out and raised its FY2001 guidance by 60 percent, from $150 million to $240 million. Now they've guided back to the $170-190 million range, a 20-30 percent haircut. All in five weeks! That's one of the most dramatic illustrations I've ever seen of limited visibility. Stay long and strong while the trade is there, but don't forget to go back the other direction when the big money returns from the snowstorm and starts dumping into this rally.

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