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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 (20112)12/18/1998 1:50:00 PM
From: Jenna  Read Replies (3) of 120523
 
BBBY, PRGS.Dain Rauscher Cuts Bed Bath & Beyond To Neutral From Buy

... wouldn't you know he goes and spoils it. But you can't ignore a downgrade. I don't know how long it will affect the stock, probably not long.

PRGS had a wonderful anticipatory upswing yesterday already. it had a 217% volume change from its 30 day moving average. It opened at 32.00 when down to about 31 7/8 and closed at a very nice $35.00 a share, an increase of 9.7%.. today it is was up another 9% but has since pulled back. So you had 18% in a stock price in just the anticipatory upswing and the follow up today. Had you opted not to hold through earnings (though in my opinion PRGS was a no-brainer) you could still have gotten in since the stock did not gap up. There will be few stocks that don't exhibit this kind of momentum before earnings. Lately the upswing has come about a little later than usual but for stocks like MEUI and COMS you should have it about 1 week before earnings. You should really concentrate on these plays because you are also concurrently learning a lesson on the interplay of fundamental and technical analysis and the channel trading lines are more clearly drawn with support and resistance lines easier to read and 'buy' triggers easier to act upon.
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