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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 (38854)5/8/1999 3:16:00 PM
From: Jenna  Read Replies (1) of 120523
 
BBOX.. FOSL..PWR..EFII earnings plays are fractionally away from a new 52 week high (PWR is a few points away) and up over 12% in the days since they showed anticipatory upswing. Usually but again not scientifically proven, charts that look like cups (with or without handles) that have good earnings reports or are in deep anticipatory upswing tend to do even better. Stocks like these as they come back up to test the old highs are not met with the selling pressure by those who are eager to sell once the stock has reached its old highs, but rather renewed confidence that the stock can reach yet higher highs. (EFII is another one, its chart is more like a dinner plate barely any indecision there)

The stock then undergoes renewed buying pressure which is another form of "anticipatory upswing" both before or after the report, confirmation of that confidence, and why you don't see the indecision that results in the 'handle' formation.

PWR's chart is more like a soup plate than a cup but it does show the indecision is over and the stock is now under accumulation.

All four stocks have been good performers during their 'report' phases and could possibly be intermediate holds (but I'd wait for after the reports to allow for profit taking).. A small position held in both FOSL or BBOX would be a safer bet than a large position.
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