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

To: Jeff Jordan who wrote (6254)	3/9/2001 11:30:30 PM
From: Jenna	Respond to of 6445

When we get a "rally". no matter how high the gap up is. the prices close below the open, gains are consolidating. The fact is that we never saw a normal bases on even one large cap technology stock. Whether we analyse the reasons, the results are the same. Every rally is sold. That is how this market is shaping up. It doesn't matter if you call anyone daytraders, the fact is if you are taking home "breakouts" thinking your tech stock has turned a corner, you would have LOST money. Breakouts, Bullish Engulfing. Piercing Patterns go nowhere the next session. The only PATTERNS THAT HOLD UP CONSISTENTLY ARE THE BREAKDOWNS. They hold up well whether intraday or on the daily charts. So at this time we are selling into rallies, and not TAKING SHORTS OR LONGS HOME IN TECHNOLOGY. We know about the meeting on March 20, and we will take that into consideration of course. Again this is just an opinion based on our own trades, analysis and results. We are NOT recommending a short policy and this pattern might change next week. We also like going long, but we following the present trend as it is now. Puts work well because of the LARGE daily moves down, but I still prefer the ease and liquidity of shorts. But when your stock moves down 15 points in 2 to 3 sessions, it goes without saying, the puts will move up accordingly.