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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 (24770)2/10/1999 5:57:00 PM
From: Jenna  Read Replies (1) of 120523
 
CNET/NSOL. Strategy for tomorrow and some more to watch: GOSHA, GTIS,PRGZ,SZA
CNET beat pretty soundly, IF and only IF... we see signs of pre market trading in this stock, futures up, and preferrably other 'leaders' of the sector showing pre-market buys, I would get into CNET in the morning. I would not wait for any gap up theories, by then the stock will have risen without you. Strong reports do not lend themselves to gap theories. They are fine for your garden variety momentum plays that move sideways after a morning gap, but for a play that has just corrected and had a good report, I would be a little less stringent.

NSOL showed more signs of a possible gap up as did XCIT, YHOO, AOL and other leaders in the sector. I don't like chasing these for just 1-2 points intraday if you can get 10 points intraday and a nice gap up the next morning which is what I got this afternoon with NSOL and hope to get in a follow through gap up in the morning.

On the other hand, I would probably not want to hold this stock and go for a long lunch either without setting a protective stop. Remember that its' not how long you hold a stock but your percentage gain. IF you have 10% plus in one day you would be wise to sell and not chance any erosion of profit. You can leave over a small portion (which is what I do) that won't 'kill' you if its down but will give you a nice gain if the stock gaps up the next day 10 or more points. (that's about 3 k for just 300 shares)
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