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Strategies & Market Trends : Three Amigos Stock Thread

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To: Sergio H who wrote (8891)	9/18/1998 10:12:00 PM
From: James Wright	Read Replies (1) of 29382

"Fundamentals continue to be almost non-essential factors in a stock's price movement. Perception and over reaction have been the driving forces. QWST is a prime example of the market's current modis operandi, wouldn't you agree ? It's going to be ready to move in the opposite direction shortly when the steam is let out." I agree on both counts. Your long position on QWST was the right call for the last week, my short position was the right call the week before (I covered my short before it's current rise and made some good quick money on QWST). I suspect it will become a good short again soon. As to fundamentals, this market lately has tested my long-held belief that fundamentals matter. Certainly that has not been true for the last several months. Normally, I look for good fundamentals and good technicals. Only after losing a lot of money started around May did I finally figure out that my traditional approach no longer was working. I look forward to the day when good research results in consistent gains. -- Jim

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