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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Jenna who wrote (7521)4/13/1998 12:37:00 PM
From: Jenna  Read Replies (1) of 120523
 
Earnings Plays on "Down" days.. Treat the 'earnings plays' as you do any watch list and you will be able to find some clear cut plays (i.e. VTSS, FAST,NB,NSOL,TSK,CBH,HRZ etc...) that will be up even as the market is down. They won't all be up but when they are up they will be up quite a bit and you will be able to scalp over 1 point. That is the reason I like to post a 'general watch list' as well as an 'earnings plays' watch list. It's not unlike getting prepared with more rations in hurricane season.

Conversely, a down day is good for our OVERBOUGHT earnings plays that report in the middle of the week. We would like them to be 'corrected' before they report. Put the weeks earnings plays in your database and check them out throughout the week.

And one final word on OVERBOUGHT stocks. DLJ and MER were in OVERBOUGHT mode before today but their earnings report overpowered that and they are up strongly. Same story with FINL that reported and their stock was OVERBOUGHT. FINL was up another 5 points after their report. That is the reason I would not put Technical Analysis charting as the preponderant weighing factor for entering such a play. It is important that the chart is good but ultimately the fundamental status of the company is what is crucial for an earnings play.
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