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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum -- Ignore unavailable to you. Want to Upgrade?

To: Smart_Money who wrote (1146)	1/10/2001 12:14:05 AM
From: Jenna	Read Replies (2) \| Respond to of 6445

YHOO! Should have a multiple of 20 say.. 10-15 sounds about right. What is happening is simply that chart, protractors, Ganns, Fibonacci's, Eliots are shelved for P/E valuations. I find that intraday charting is best in this market climate. What does it help lowering the support level of stocks like YHOO and CFLO if they keeping setting new lows? The better way would be to set up an entry (for longs interested in holding a while) based on an established P/E that is compatible with the other stocks trading in the same sector. Then do your TA based on that. What will happen is that they could be mostly shorted, with little 'pauses' for bearish flag reversals.