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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 (105934)	7/6/2000 3:41:29 PM
From: Jerry Olson	Respond to of 120523

sold IMNX at 60 1/16th what a 2-3 day trade in and out..closed LEXG so-so not acting well here even with the news in the WSJ... holding MOT here...

To: Jenna who wrote (105934)	7/6/2000 3:49:14 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

Price targets.. actual number targets are not the best strategy for watch list but rather more versatile targets like a bounce off its 20 period moving average, intraday 3 bar high (15 minute charts) etc. We have often seen stocks gapping up in the morning only to pull back after 30 minutes or more of trading. Sometimes by the time 30 minutes have passed the stock has run deep into a breakaway gap and has moved up so much that after 30 minutes you have missed the trade. Market Gems Strategy is to post a daily chart or a 15 minute chart (in cases of bullish pullbacks from strong uptrends like TLGD, CMVT etc) on the watch list. The next trading session we will watch 15 minute chart juxtaposed onto this daily chart. If market internals are positive it will definitely influence entry much more so than 'first 30 minutes', gap entry strategies or any 'pat' strategies that might not work in today's market climate. There were quite a few stocks that moved up in the small rally of the morning. This rally meant absolutely nothing in the scheme of things but was just a 'mental picture' of what was to come. Placing price targets could work if the stock pulls back but there are no assurances it will pull back conveniently and let us enter. If a stock gaps up 2 then literally it has gapped up 'out of play' and that situation is tenuous at best. CMVT gapped up a bit this morning and then it pulled back. Major market indicators are really more important than the price of the target stock. Some traders might have written off CMVT as a 'gap up' play but this was not to be the case. So our target entries will be technical indicator breakouts on 15 minute charts (watching also the 60 minute and daily charts).