Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

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To: LastShadow who wrote (5763)	3/7/1998 10:21:00 AM
From: Jerry Olson	Read Replies (2) of 120523

LastShadow ""Here's Dorsey's update on NOVL, i know several are playing this stock"... [NOVL] Novell Inc ($10.750) - This stock recently broke a double top at 9 and that breakout also saw the stock violate its bearish resistance line. Stock is bouncing off support in the 7 area, which it hit in December and January. The recent move to 11 moved the stock to its highest levels in over a year. This is a low priced stock and is now too extended to buy here. Also, traders only as the relative strength is negative. Buyers wait for a pullback to the 8 1-2 to 9 area to buy and then use the triple bottom sell signal at 6 1-2 as the stop loss. MARKET COMMENTS MY OWN THOUGHTS.... I would completely avoid all semi & semi equip makers at this time...anyone that is holding co's that do business with the Boxmakers, i would sell out your position NOW! with the warnings coming from the BIG BOYS, collateral damage will occur to any co doing biz with them... The market is now MORE than Irrationally Exuberant...It's outright "RIDCULOUS"...IMO.. bad news is good news, buying the dip mentality...only this time when earnings start to flow the first of Apr, co's will warn about the next Q as well....I see real damage ahead into the end of June-July before Asia shakes itself out... My connections & info sources are telling me there are bombshells out there waiting to happen....The markets all but dismissed Asia...NOT IN THIS LIFETIME FOLKS!!!! it's out there and going to get very ugly... In fact China & Japan could be the catalyist for a major correction in to late Apr, "JUST LIKE LAST YEAR THIS TIME"..history has a way of repeating itself... The trickle down effect from the top companys to & thru the food chain will have far reaching effects on these suppliers/vendors....watch yourself...& don't forget to investigate who your co is doing biz with out there.... This market may go to 8600-8700, but my feelings are that we will correct at least 1000 points...that's only about 12-13%, and it would take us to good support at 7600-7700....no big deal...but it will happen.... I'm begining to look for shorts and put plays in the techs... sectors i like are biotechs/medical/drugs/consumers.... the airlines are flying high right now because of oil prices..but many are exposed to Asia..BAB..look at the chart...i'll have 10 good put plays for May-June, trying to capture the Apr bad earnings & the warnings into the 2nd Q.... Watch out in the coming weeks for warnings and blindsides...If MFST-DELL-IBM- any more of the Big Cap Tech Stocks warns we will implode....yes I know there's a lot of money fueling this market...but at some point the bottom will collapse out from under that money, and panic selling will occur... Yes, it will only be a correction within this terrific bull market that's going to La-La Land probably the end of this year and into the next Decade???? But be careful... My Regards to all, Jerry

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