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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 (17466)10/22/1998 4:31:00 PM
From: Jenna  Read Replies (5) of 120523
 
4 Interesting Observations from the week thus far..

1) Every stock I bought today and yesterday were only chosen from 1 newsletter (30-35 stocks) and about 2-3 watchlists (30 stocks) yesterday. Today I only used the one watch list for October 22.. and even my 'severely beaten down' list of between 50-60 I barely used.

2) Most every stock on the list beat earnings estimates except the few that did not report yet and I think 1 was in line were not remarkable.. MYG was the latest that beat and early in the morning CHRZ beat.. SCAI did not respond if I recall but today was up over 7%.. and GTW didn't report yet.

3)Third point was that the market was down most of the morning and early afternoon when the earning plays were taking off. The market did have a good day but was unspectacular and most sectors were mixed.

4) .. After the heat of the season 'end of october' you should have a special data base for all your street beaters. They will surge with every new rally (XIRC, ENVY, TXCC, QLGC,)

Conclusion is you don't have to track a battallion of 2-300 stocks every day or even every week. Just get the 'best of the best' or the 'worst of the worst' (fundamentally strong, but severely beaten down)
Keep your ears tuned to news that might move a certain sector or stock, and you have more than some dexterous daytraders, who can probably trade for an 1/8 or a 1/4 point a hit. Wouldn't you prefer r to make 2-5 trades and come out with 5 points and more?

Remember all the complex, scientific stock strategies for entering and exiting trades are worthless if you don't have stocks that 'cooperate' by being in a pivotal position both fundamentally and technically for a move up.
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