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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 (74592)	12/7/1999 8:33:00 PM
From: kendall harmon	Read Replies (1) \| Respond to of 120523

PRLS news after the bell--saw a HUGE block buy of over 217,000 shares at 3:24 p.m. today. biz.yahoo.com

To: Jenna who wrote (74592)	12/7/1999 8:48:00 PM
From: Jenna	Respond to of 120523

ENGA and what it might represent.. ENGA was an earnings play that was on the list only because I expected everyone else's anticipatory upswing. I had none to speak of myself. I've done this before with IPO's and its worked more times than not. Everyone knows that if the earnings (or losses) are better than expected there will be a rash of upgrades, recognitions, double digit percent gains daily etc. But when the ballyho dies down only the best survive. Because there is no historical earnings to look up, expectations are automatically high as 'hopeful' takes the place of 'certitude'.. But as we are traders, we trade on that hope. We had it with TGNT, FFIV, GOTO among others.. But notice how steep the correction was with FFIV and GOTO.. and how when they rebound its all in one day. That's not very healthy and to trade just these unpredictable anacondas is not a way to riches. Now look at charts of AMCC, JDSU, BOBJ.. and which would you ultimately prefer? I prefer tight trading ranges that are predictable when these winners stray a little too high or drop a bit without breaking more than a few percentage points from either the top (shorting BOBJ) or middle/bottom channel you have steady good trading. Those others will owrk but must be tempered with caution, and as part of a diversified trading portfolio it could work but never by itself. So as I have said last week,we add another 'dimension' to our coined "Anticipatory Upswing".. the anticipation that some or any news on earnings and/or revenue is better than no news and just maybe the news will be good because the stock has 'potential'. Not enough to carry you very far but if the news is really good then the three day gap ups that aren't filled etc.. Because of all the overevaluations stocks are looking similar and lots are going up, but there are differences.. Some are up on 'hopes' to be recognized or expectation of a 'deal' and others are up because they have already made these deals and are starting to reap the benefits. We will try to find them during earnings season in January like we found LBRT, LWIN, PHCM, ALLR, EIDSY, PUMA, CAMP etc.. Remember they were toddlers once also.. By then a lot of ipo's might be filtered out.