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To: Dave Gore who wrote (400)3/5/2000 9:09:00 PM
From: kinetic  Read Replies (1) | Respond to of 656
 
Dave -- I see you've enjoying experimenting with the barchart.com site. It's a lot of fun to check out all your picks.

One anecdotal word of caution. This site came to my attention a month ago when someone provided the link to show how GNLB, which had risen 90% over the previous four or five days, was the number one stock on the entire barchart site that weekend. What happened next? The stock, which had closed the previous Friday at 13 5/8, ran to 16 1/2 the first hour of Monday's trading as I watched on in glee, then began to fall, really hard! It closed the day at around 10 1/2 to wind up as one of the biggest losers of the day, and it fell further the following day. It's now pushing new highs again.

I became somewhat apprehensive of the barchart momentum/strength indicators, because they seem to reflect a multi-day run-up rather than consistent strength. I've yet to study it intensively for predictive value over the near and long term, and doubt I'll ever have the time to do so, but I suspect most of the stocks that appear there will continue to be winners.

Just a couple of thoughts!!! BTW, congrats on the WSJ article!

kinetic