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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: David Alan Cook who wrote (9876)6/1/1998 3:30:00 PM
From: Jenna  Read Replies (2) of 120523
 
Profits among the ruins...The Retail Sector. Trades I made today were just MTC, ISLI and CAKE. Other than those two nasdaq stocks there were not many gems glistening today in the NASDAQ. Nonetheless again stocks like BKE,DH,WMT,RAD,LOW, HD, CLE,KM, NYSE stocks made trading worthwhile.

No amount of technical analysis can prepare you for these kind of days. The only thing to do is either buy puts on companies you expect to report loses or stick to the sectors that are still strong like the retail sector. The 'buy' and 'hold' will not work in these markets unless you bought 3-5 years ago.. If you bought 1 year ago and held you did not do too well (i.e. INTC). I expect that when this horizontal correction is over there will be lots of 'gems' around to gather up. I expect July to be a good month when it will be apparent that certain companies are still showing strong earnings. ISLI was able to make 2 consecutive days of strong gains following good earnings and there will be more to come in the next few weeks. This thread will constantly be on the look out for the best trades even 'amongst the ruins' of the nasdaq.

I expect the Institutions and Mutuals to go 'bargain' hunting before too long and as someone who is always on line in the "after Christmas" sales at Macy's, I intend to be there.
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