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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 (16046)10/3/1998 12:57:00 PM
From: Jenna  Read Replies (3) of 120523
 
E-mail talking about getting into "XCIT, YHOO, AMZN, etc"
When you exit trades in panic during a selloff like Thursday or Friday morning and then you reenter when the market rallies, you are losing money and using bad trading strategy. You are selling low and buying high. I like to be a contrarian by buying calls when the sector has not yet completely changed trend (although signs of a trend change are apparent) like the Internet Calls I bought early Friday morning, and Index Option calls I bought on Thursday near the close. I would suggest instead of buying calls you buy "PUTS" on the internets for October-November. This market is not rebounding. When strong stocks like BMCS, AZPN and PSFT tank terribly, and DELL,CSCO, MSFT are down there can't be a real rally. If you noticed, the defensive stocks were up sharply on Friday, but not on high volume. When the jobs report is so off and showing signs of a slowing economy, you can't have a rally. We should have another rate cut..probably before November 17.

I also think you would be better off going long on the banking sector than the internet sector. All the hullaballo about the hedge funds bailouts are making the banking sector look particulary beaten down and therefore attractive for traders. Some brokerage stocks look better as well: MWD,BSC and MER.
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