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

To: ColtonGang who wrote (3804)	2/5/2001 4:43:16 PM
From: Jenna	Read Replies (3) \| Respond to of 6445

Nice day!! some morning shorts, especially ELNT today's watch list and MUSE friday's watch list, as well as a BRCM (friday's short continued) and NTAP's short also, gave way to some LONGS in Biotechs: IMPH and BEAS were news-driven calls on upgrades to STRONG BUY and BUY (VRTX, SEPR, ALXN) We had a biotech rally after an early short on ALXN. A SEPR cover also led to a SEPR long by 10:00 and a soaring for the rest of the day. ELNT, BRCM, AETH, CCMP and DPMI all from watch list all prepared for shorts into the 9:50 to 10:10 reversal period. CCMP and DPMI.. covered by 10:10-10:15 (note that doji on the 5 minute CCMP chart. A first reversal period call short on OPWV quickly was covered (even at some loss, we knew it was bounding up and was going the other way) and turned into a long through the rest of the session (for very strong stocks I like to look at a 10 minute chart (more than a 5 minute) so as not to leave the trade prematurely. SEBL was an early call and by the time we went long there were few shorts still powering up (ELNT, HAND the only ones). Got stopped out of an early short call on EBAY makin both EBAY and OPWV reversals. Every trade although entered at the 5 and 10 minute trigger were really decided upon from the support/resistance and pivot points OF THE DAILY CHART.. (especially ALXN and SEPR that were coming off short plays) that was how we knew the 42 mark on ELNT (watch list) was a signficant break down level, AETH, HAND, and the recovery of BRCD (first long call today)... also from the daily chart and its Sink or Swim day of reckoning for BRCD.