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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: hjz who wrote (44345)	6/14/1999 1:25:00 PM
From: Jenna	Respond to of 120523

pockets of strength: earnings plays, blue chips, semis ..Internet weakness is now transcending the charts, trendlines and resistance levels. In short, its the earnings shortfall that reigns. I've mentioned for a month my plan NOT to hold any internet stocks overnight (I did on two occasions that is all, except for the puts, of course). Earnings shortfalls in a sector that is already 'short of earnings' is not a good sign. I expected the nets to fall after OJ mentioned the EPAY short fall. Even diehards on AOL ('down' on AOL since it was 137), NITE are finally convinced there is no 'accumulating' or averaging down on weakness. I can't imagine how I made any money at all on CMGI and NSOL last week, but I guess it was a classic case of "anticipatory upswing" and the sell on the news, buy on the rumor. I get into puts, missing a few points but essentially 'capturing' most of the fall, rather than holding a 'long' play on any net. I got stopped out of TURF at 17 1/2 after a 18 1/4 entry but that's about it. I sold TERN when I should have held but otherwise I get out by the day's end. I had a sell order into TERN, CMVT, CACS already out on Friday. I'm only watching about 1 dozen stocks out here, but have managed to get into some earnings plays and I see ADBE, JBL is doing a 'repeat' of INTU, MACR and CMVT. Othewise I'm trading 'in and out' .. hit and run until the interest situation stabilizes.