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

To: Dave Gore who wrote (1293)	1/10/2001 3:17:42 PM
From: Jenna	Respond to of 6445

ELNT is also overbought on the daily chart but its coming to a wonderful grand finale here. Only a few stocks did as well as ELNT and most others were down and treading water at best. There are some tasty morsels out there still and TLGD might be one of them. I think that it is actually in this 1-2 week interval that the turning point will come. Most stocks are hugging their 52 week lows and for the most part are below their 200 day moving averages. Most people entered when stocks hadn't really bottomed and probably got stopped out or just holding still to get their money. However I think the lion's portion of the gains are in front of us and there are no regrets at not having gotten burned on scores of other stocks... some of which are actually 25% of what they were a number of months ago. The point many people like to gloss over is that traders also have portfolios intermediate or whatever but just because they are so familiar with the nuances of the market they churn the longer term portfolio every few months to correspond with earnings release dates or general malaise in the market. We have not been long for 3 1/2 months that is true but traders are just as keen as investors to know when it might be time to enter for swing, positions trades and longer. If you only daytrade for a living, you are missing out on the best of both worlds... and we tend to advocate the best of both worlds .... an intermediate term portfolio to work for you and a daily daytrading to supplement and perhaps short. (by the way Dave, this is not addressed to you, its just has to do with ELNT and other investing points) For the last 4 years on SI we have always had long and mid term portfolios and because we exited at the right time since the oil service decline, to the financial decline to the internet decline and 2 technology declines... it is easy to pooh pooh traders as 'just taking home a scalp' which is no where near the truth. We milked the market to the short side for months and months and we will know when (more or less give or take 8-10%) when to go in long. Justifying mistakes in holding longer term positions during huge downfalls is just being in denial. This is important for folks in the future. NEVER BE SO COMPLACENT AS TO NOT WATCH YOUR LONG TERM PORTFOLIOS