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

To: Jenna who wrote (1201)	1/10/2001 11:30:13 AM
From: Jenna	Respond to of 6445

marketgems.com Here we have the WEBM chart both 1/9 and 1/8.. WEBM was a long play and although it gapped down, by 9:50 it was already bounding up. You can see by the chart that WEBM did technically have a breakout yesterday as you can clearly see it moved above the lower Bollinger Band. That was important support that was broken on Monday. We like to call those also 'sink or swim' trades. If they can't SWIM back up into support, they might sink further below the bollinger bands making recovery much more difficult. We will short WEBM as soon if it fails to take out resistance on the INTRADAY chart.. and at the same time look at the daily chart to see the whole picture.