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Strategies & Market Trends : Continuing the IFMX discussion and more...
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To: Melissa McAuliffe who wrote (175)9/11/1997 2:50:00 PM
From: Robert Graham   of 206
 
LUV and PHYC. Southwest airlines (LUV) has broken out a couple days ago. Airline stocks have been doing well recently. I suspect it is the momentum from the breakout that has allowed this stock to hold well against the market drop. Many times positive momentum in a stock has made a big difference during adverse times in the market. Momentum increases the stock's relative strength.

Phycor is a small but rapidly expanding health facility management company. Alot of short term players in this stock. It also broke out a couple days ago. Even though I did pick it up in an oversold condition, I was looking for the momentum to prevail. The stock did a predictable retrace, bounced, and has moved back up today. I could of held out for a cheaper option. It is difficult in a breakout situation to determine if momentum will overcome a temporary overbought condition. I am still learning on these breakout plays. I think part of the secret here may be the VTO of the stock.

Bob Graham
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