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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank
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To: Street Walker who wrote (23120)1/27/1999 1:52:00 PM
From: Jenna  Read Replies (3) of 120523
 
<<There are many investors who only follow and consider for trade those stocks that have reached a 52 week price high. William O'Neill has made a career out of this. >>

I tend to agree with that tenet but with a few amendments. I will only make a small change to say 10% below is optimum for me and the 52 week high would have to have some sort of special earnings or something new that would lead to higher highs. It's usually the smaller stocks that fit that category. I got an e-mail yesterday from someone who did a survey on my stock picks and said that the ones with the low P/E (there aren't that many about 25%) underperformed the ones that had higher P/E in the last 3 months. The Trend is your friend.. I would rather get in on a stock that is trending strongly then get into an oversold stock that is 'worth' twice more but never seems to get out of the doldrums.

Remember that an overbought stock can be overbought for weeks or more but an oversold stock can stay oversold for weeks, months, and G-d Forbid, even years (i.e. the oil service sector) How many analysts' have called bottoms in this sector only to have it reach even lower and lower lows.
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