William Harmond, Chief Investment Strategist with Stock Traders Daily, has made it clear that the Market is near a bottom, but instead of guessing at the bottom, he has implemented reversal triggers on select companies that should participate with those increases. He does not recommend outright buying because of the weak environment, but he does recommend having a plan in case of either a capitulation bottom, or a surprise reversal higher. Some of the triggers he has identified pertain to the following stocks:
1. PeopleSoft, Inc. (Nasdaq: PSFT chart, msgs) is poised for upgrades.
2. Microsoft Corporation (Nasdaq: MSFT chart, msgs) has more cash than it needs.
3. eBay Inc. (Nasdaq: EBAY chart, msgs) has finally pulled back to near buy levels.
4. QLogic Corporation (Nasdaq: QLGC chart, msgs)is holding its recent gains.
For specific trading advice, including capitulation buy signals, reversal entry prices, and more, please visit William Harmond at the "new economy" thread. |
