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

To: tom ablett who wrote (5444)	2/27/2001 6:33:39 PM
From: Jenna	Respond to of 6445

Okay I have my five monitors all set up thanks to those who sent e-mails about the video cards etc. I have slots up to 8 my favorite monitor, check it out is a 1/2 inch thick SONY 15 inch gorgeous picture stands on a picture stand very small footprint, no base at all. Easy to get 3 or 4 of those and you don't even notice they are monitors. Not many triggers on the long side today. But some good ones on the short side that followed the classic patterns for short set up and action and taking action was what we did. I would like everyone even non subscribers to study the watch lists (I downloaded 3 yesterday to the thread) and note which chart patterns virtually scream buy me or in our case SHORT me. Learning to follow certain pre-planned set up will help you have the confidence and not 'trigger panic' to make the trade. Every gets trigger panic.. I got it today when I couldn't bring myself to buy FTUS long and I waited virtually most of the session to finally take JILL. That's not a panic but rather a lack of conviction on the long side. I don't have that feeling on the short side not at all. These patterns are the set ups that trigger an action. Not all patterns trigger actions and most traders can't recognize those that indeed due trigger actions and those that just go into hibernation. That is where the buy stop comes in. Sometimes I put up a buy stop 3 days in a row to catch a trend that I think is reversing, but the third I give up and sometimes by the fourth day I miss it but lately I'm trying for up to 10 days (i.e. MONE, MTON and CANI for example.. and now PHSY, and hopefully LNCR which retreated today) We keep saying 'let the stock come to you' and as you noticed in the room or even on the thread it does, and if it doesn't, you didn't need it in the first place because its reversed. I have seen traders rushing in at the open going long but fewer an fewer are doing so lately. We thought maybe we'd get a long play on GILD today we had that buy stop on GILD most of the day and it finally had a piddling move and was up fractionally but promptly retreated. Looking at DPMI now as one the better shorts left as CCMP is also going into a tailspin and if DCTM doesn't find support it may join the ranks of JDSU, CSCO and BRCM.. We only step in when there is a setup which trigger ---> an action. The setups were in abundance today, but all or nearly all were to the downside. WE don't mind being short, all I ever need is a trend in place, but psychologically it gets difficult sometimes to see your favorites destroyed. I don't care a bit about EXFO or NTIQ but it does hurt when ELNT, MRVC, CHKP, MERQ companies I've had for years are now just skeletons of their glorious past. Maybe they will come back, and heck, we'll wait for them but I'm not waiting IN them but on the SIDELINES for them.

To: tom ablett who wrote (5444)	2/27/2001 8:11:03 PM
From: Dave Gore	Read Replies (1) \| Respond to of 6445

Tom, quite frankly the bigger Markets are behaving like the OTC/BB used to. The MM's run things up trying to suck in the little guy and then force them back out. Sooner or later a slow death occurs, where virtually no one but certain confused Fund Managers want to take the plunge on the long side. Inexperienced daytraders (and there are still tons of them) will try to force trades and enter on the slightest uptick with little homework and little knowledge of bear traps, and before they know it, they have lost a bundle. You can't blame them totally because even the "experts" (whose advice they rely upon) have been so wrong, for so long. CNBC still parades a bunch of worthless analysts and stock pickers by us every day, who speak bullish on any day the Market is up and bearish on any day it's down. It's nothing but reputation building or protecting, and they know if they are wrong, it will probably be forgotten. And the ones who probably know what's going on, seldom come clean. Gone are the days apparently where you would get a nice rally after a 10% decline in the Market. Now we get 60% declines in a Market in less than a year? How could that much excess build up in the first place? Especially after we should have learned our lesson with the dot-bombs? Where were the experts that should have spoken for the Common man. And RIMM still has a 900+ PE! Seems impossible in hindsight, doesn't it? It seems that there were a lot of powerful somebodies in the Media, among analysts, and elsewhere that were simply lying to us or not bothering to tell us how the game is played - that is, run it up as far as you can and then tank it as far as you can. Of course, Joe Average Investor with his greed bought into it....bigtime. Who knows, maybe they made it easy for a year or two, so they could suck so many others into it. No question, though, the American. Media is really good at making us believe just about anything they want us to. LOL! The MM's and big players love this market action because they make quick money. Few people want to hold for long, and many cannot even short their IRA accounts, thanks to you know who. They have now convinced us all that we can't afford to hold for more than a day or a few minutes, and meanwhile the Market continues to go down more and more. They convinced the small guy before to buy the dips and hold rather than sell the tank. But that doesn't work anymore. Of course, they also know that someday the Market will bottom and the quality stocks will rally strongly to levels far above where they are today. But fear won't let many see that yet. And the cheaper these stocks get, the better they like it. They are making money taking advantage of the daytraders and have since March 2000, and they will really make a bundle on the long side before the swing traders and the longer term investors get back in. Right now with one small step up and two to four mini-steps back, in a slow death fashion, this is a Market where not many can make money. If only 5% of the little guys do well and 95% suffer, that has got to have Alan Greenspan and his cronies very worried Incidentally, I would say the SEC is worried too about the inherent disadvantages of the little guy, but they have never much cared, in my opinion. Bottom Line - There is a ton of wealth disappearing and just like there is an elite financial class in society, there is an elite class in the Market making the bulk of the money with most of the advantages. This is a Pro's market where only the very best or those "on the inside" can make much. Many on this thread are doing okay or reasonably well, a very few are doing very well, but the bulk out there seem to be doing horribly and what's amazing is they (as individual investors) or their fund managers refuse (yet) to sell and get out of this very brutal game. Anyway, just some thoughts on my mind. Any in-dpeth comments privately appreciated, too.