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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: Jenna who wrote (51714)	7/21/1999 11:57:00 AM
From: cirrus	Read Replies (2) \| Respond to of 120523

Jenna... I'm getting a bit confused here. CREE, SONE and MSPG made recent "Watch Lists". By your definition, "Watch List" stocks are "in pivotal position for a move up". After these stocks tanked, you state they "were getting very toppy, simply overbought". If something is "overbought" why is on the watch list in the first place? I'm NOT trying to be a jerk or start a war here. An ebb tide like yesterdays lowers all boats - MSPG was actually up late in the day despite yesterday's carnage, and we are waiting for some kind of news... CREE has earnings and a split coming up, so I consider the decline a buying opportunity. However, please clarify: How can an "overbought" stock be "in a pivotal position to move up"?