Daytrading Canadian stocks in Realtime Message Board

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Gold/Mining/Energy : Daytrading Canadian stocks in Realtime

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To: StockPro who wrote (11865)	5/8/1999 12:24:00 PM
From: keith massey	Read Replies (3) of 62348

LTV - Leitch I am open to all suggestions on how to play LTV next weeks. In the history of LTV (since 1994) they have never halted the stock to give an earnings warning. No matter how good a company might be when an earnings warning comes out you can be sure that the stock will drop with volume. If it is a good company and the warning is not that bad you can expect a nice bounces spread over a couple of day periods. The drop leading up to this warning indicates that a lot of people have seen this coming and have already taken an exit. However we may still get some retail panic selling on Monday morning followed by a bounce on value players. This is a widely followed stock which average volume around 100,000 shares a day...on Monday we could easily see 500,000 share plus and hopefully some good volitility. The first weaker support is at $23.80 (4/12/99, 4/23/99, Aug 98)...if it blows through this than then I would call the first very strong support level at $22.50 (9/24/96 and bottoms in June/July 98). The next weaker support level is at at $21.10 (3/1/96 and Aug 96). After that $18.70-$19 should be a very strong support level based on gap 8/21/96 and the accumulation in Feb-June/96. However I would be surprised to see this one to even break $20-21. In my opinion this earnings warning wasn't that bad so I don't think it will dump that big. They have said the sales of server products for the quarter are down but they have since seen an increase in order intake. This stock often see $5 moves. Hopefully it will become a good day trader/short term trader next week. Could everyone else throw up your big cap. player for next week, support and resistance levels and why they should move big. I am proposing that every weekend (and nightly after the market closes) we should try and come up with a list of 5-6 big caps that are going to be movers and shakers in the next couple of days. Last week NNC and NCT worked out great. These were both heads up in advance. CN.B didn't play out as well but I didn't trade it as soon as I saw the lack of movement and depth. Best Regards KEITH

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