Technical analysis for shorts & longs Message Board

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Strategies & Market Trends : Technical analysis for shorts & longs

SPY 689.17

+0.2%

Dec 11 4:00 PM EST

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To: mattie who wrote (18007)	10/12/1998 8:26:00 PM
From: Clint E.	Read Replies (1) of 69003

Hi Mattie. Price target for VTSS is ~25. Why was it weak on Friday? Don't know. An earnings pattern that may develop this time is that Tech Stocks, one by one, may stay soft before earnings and then pop on the day prior to reporting. NVLS was rewarded nicely today but it didn't gap up because it was still too early in the earnings season and nobody wanted to take a chance. Next time, traders may try to bid up the next tech stock that is expected to do well, prior to reporting. If they see a couple of opening gap-ups in individual issues, they'll be more enticed to start playing on the day prior. Therefore, we could see a series of "one/two-day" rallies in some earnings-related issues. Obviously, after a couple of days of strong performance, most will then drop back as money moves into the next earnings story, etc. Clint

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