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

To: __HD who wrote (3700)	2/2/2001 5:14:57 PM
From: Jenna	Respond to of 6445

MERQ marketgems.com yes was also on today's watch list and here again we were well aware of the double-edged sword that was MERQ. In the broadening formation of this chart you can see that the volatility has been increasing as everyone wanted to partake of what they thought we be a rising trading channel.. but in fact have been a topping before a reversal back to the downside. MERQ was upgraded to STRONG BUY on Thursday. Fortunately we VERY RARELY enter trades before 9:50 especially with market internals that are lagging and MERQ classically reversed it 10 minute uptrend to the downside by 9:50. I triggered short when the third bar (the 9:50 bar) dropped below the low of the previous bar, however, we chose to short some others at that time period. WE don't have to enter and wait as long as Friday's high I'd watch for a recovery around the 20 day moving average around 84 for a possible entry or 84 9/16 the 38.2% retracment from the 13 week high which is also above the 20 day moving average. The chart was improving before today's downtrend.