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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: Andrew G. who wrote (89971)	3/24/2000 1:26:00 AM
From: Susan G	Respond to of 120523

"Biotech to survive the bombshell" The sector is real, big and important, says analyst cbs.marketwatch.com

To: Andrew G. who wrote (89971)	3/24/2000 1:40:00 AM
From: Jenna	Read Replies (2) \| Respond to of 120523

Biotech Conference. Thanks.. that will help most assuredly. Its just that a lot can happen during the weekend like Barron's coming out and attacking the sector or whatever. There are so many deep gains to be made by swing trades in this sector that I don't see the need to hold right between a possible breakdown of trend and reversal. When GLGC rises 35% in one session or IMMU rises triple digits in a matter of weeks, and MEDX and some of the others, I don't feel we need to hold that long for nice gains. Remember the first huge gains came around last week in December after I mentioned the Chase H&Q conference, then sent out some special watch list (3 in all) but that was a famous conference and it did quite a lot for the sector. But this move around December 17 through last week in February and sporadically in March was gargantuan and not unlike internet sector in its adolescence when you could hold NTBK or NITE for months without fear. Moreover, with each correction in the net sector, stocks were not surging as much as in the heyday of the sector. Sure they came back but not all of them and I've become more conservative and circumspect since the huge gains in both the internet and now the biotech sector. I was wild in the "NTBK" era. I'm not as wild now. Actually I'm not even a daytrader, but even when I daytrade its a long 'multi-hour daytrade' so I'm not interested in scalping. (A 10 pointer and 6 pointer on SCII in two days is a scalp for me; a half point is lunch) I don't like the other extreme just holding is a little scary as preservation of the profits made during the surge in the biotechs is my main concern, not another 'killing' necessarily. I don't make as much money trading as I could because I have a 'steady income' and I find I'm enjoying Market Gems research, communicating with traders, and posting charts, analysis and just running Pristine Market Gems just as satisfying and less stressful. Also I had a lot of different stocks during the soaring, over 20 then I picked up some mutual funds in the biotech sector because I didn't have time to follow so many and now I only hold about 4 or 5 at a time. So if I see enough signs of a resurgence tomorrow at the open, or near the close, I'm game once again. Alternatively we can always get in on Monday in the morning. I don't regret my short term hold on CELG the second time in 3 days nor do I regret any short positions that are already making good gains as I shorted those few when they were still solidly in positive territory after closing the long position. I have learned that it is important to follow your favorites (leaders, or your past winners) over and over so you can better interpret chart patterns. I'm familiar with about 25 biotech stocks and I can enter them at a moments notice. I don't mind spending more for a trade. Buy stops in the morning can get you into trades (I usually go up to 3 days to catch a stock then I quit if the stock hasn't reached my trigger buy stop).. I missed going long on MSTR by a hair trigger the day it was down 14% (actually it was after covering a short position so I would have been down only about 4%) because the limit buy did not hit, but it did on the following day and MSTR surged. I sold most of the position on Wednesday but what the heck I still had a few hundred shares to enjoy.