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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 (119586)	12/19/2000 3:49:13 PM
From: Lane Hall-Witt	Read Replies (1) \| Respond to of 120523

The VIX is down on the day at a nice, relaxed 30.52 -- doubtless the most astonishing indicator out there at a moment when the COMPX and NDX have both surged through 52-week lows.

To: Jenna who wrote (119586)	12/19/2000 3:59:13 PM
From: nokomis	Respond to of 120523

SLR and HAND powering ahead...in PSEM @ 15 7/8..

To: Jenna who wrote (119586)	12/19/2000 5:36:29 PM
From: Jenna	Read Replies (1) \| Respond to of 120523

PWER, RIMM Very important to look at support/resistance lines. PWER was a nice long trade this morning as it took out 42, the support level and moved to a high of 47 9/16. It did pull back in the second reversal period but was trading higher than 42 much of the day. Of course the fed report made every tech stock (and dow) move below their 20 period moving average but what is significant in PWER is near the close it was back to 42 3/8 which was right at the 'sink or swim' support line. Not good PWER is not created equal to some others, its chart pattern is much weaker so we called it short at 42 3/8 for a short into the close. Now its trading at 40 in the after hours. Were it not for the precarious situation and the fact that PWER was relatively cheap and not considered much of a chance for a gap up, we would not have found this short. 6> PWER Power-One Inc. Price = 44 3/4 PWER is now a sink or swim trade. If already dropped from support of 51, the 200 day moving average but its still has one support level of 42, if that breaks PWER will not be a power any longer but a power failure to the next support level of 25. Very oversold also showed some positive money flow on the intraday chart. RIMM was 'on watch' for the last few sessions but short of an intraday long or short was not held overnight since last Friday. Tonight, close to earnings, RIMM was also called a short into the close. Too many negatives bearing down on RIMM, that ridiculous move up in the morning was a buy (yep, we called it long) but we were really waiting for a chance to short the heck of it. Of course in this situation we USED the strength of the Fed report as a final straw that broke RIMM's back. We knew we need something to get this blimp down and we accepted it. RIMM too is down 2 1/4 in after hours and a second put play (75 puts) is waiting for its earnings report. If you look at the close on the daily chart of RIMM the close was a bearish reverse hammer (nearly gravestone doji) and sitting just where we want it at the support level of its 20 day moving average (81). RIMM should continue moving down tomorrow pending its earnings report after the close.