Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Dave Gore's Trades That Make Sense -- Ignore unavailable to you. Want to Upgrade?

To: Dave Gore who wrote (411)	1/4/2002 5:04:33 PM
From: Dave Gore	Respond to of 16631

ANATOMY OF IMCL: Interesting action if you look at it. Rumors from last week were all over CNBC and elsewhere last week regarding bad news for IMCL. It tanked as a result with the strongest negative momentum occurring Monday and Wed. morn. Then about 1PM today, the momentum stopped going down on the chart for the first time in 5 days and shortly thereafter the stock rose about 3.7 points from the lows. There was actually a delayed reaction on the chart which would have given all a chance to get in near the lows of the day. A post from earlier this week on this thread was on BUYING DIPS. Some of you might want to go back and read that. It basically says that you should never catch a falling knife when the volume (selling) is still real high. Charts are very useful obviously for determining this point. Like SLR this one needed time to regroup. The easiest money on this stock has been made today and its too bad I wasn't on top of it. I am kicking myself, especially because I called the bottom of the BTK and BBH indices and saw the momentum coming. Nevertheless it's good info to file away.

To: Dave Gore who wrote (411)	1/4/2002 7:23:19 PM
From: Dave Gore	Read Replies (2) \| Respond to of 16631

FRIDAY WRAP - Great week for tech - let's watch for sector rotation into other sectors next week, little by little next week as many techs get extended. The BTK and BBH indices caught fire in the last half of the day today, with an amazing turnaround of almost 30 points in the BTK from its lows. I would not be surprised to see it carry over, especially if the rumor from Briefing of a TIER 1 firm upgrading the BTK sector turns out to be true. The rally this week was set up when the NAZ held the 200 day SMA at 1926 last week. When we broke back above 2000 and then broke 2050, (along with the amazing climb of the SOX index)we saw a lot of converts that the economy might be coming out of its doldrums. According to IBD, there were far fewer earnings warnings this quarter, too, even though, let's face it, that is also because firms guided down more effectively. Many, including me, feel that tech has gotten ahead of itself, but if earnings start off good next week and continue to look good, with good guidance, in the busier weeks that follow, we have a shot to re-test 2200 on the NAZ. All in all, an impressive week. Let's see if we can live with a modest tech pullback and hold 2000 or even 2050 on the close Monday and go from there. Meanwhile, let's all hope for a relatively peaceful weekend as well for the world.