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To: Larry S. who wrote (38774)3/4/2002 12:28:08 PM
From: Ron McKinnon  Read Replies (1) | Respond to of 53068
 
Dan Fitzpatrick
Protect The Equity In Your Homes
3/04/02 11:25 AM ET

Those of you who read my article last week on the homebuilder group -- Listen Up!! Many of these stocks are up substantially today, and appear to be breaking out. I noticed that TOL and RYL gapped up on above-average volume, but not enough volume to warn of any type of "blow-off top". Most others are doing well.
With that said, I suggest that those who are long this group always keep in mind the reason why you are long. It's not because you BELIEVE that this group will be the next internet phenomenon. Rather, it's simply because the stocks appear to be attracting money. As money flows into these stocks, bids are raised and offers are lifted. Like magic, the price rises.

The P/E's of these stocks are quite low...that is, if you compare them to Brocade! But relative to their historical P/E's, they are pretty pricey. So it's silly to fall in love with this group. Believe me, as fast as institutional money flows into stocks, it can flow out even faster. Those professionals want to book profits.

It could be that my comments on the homebuilder group, when combined with my comments on the gold group last month, might get me labeled as a "momentum" guy. But that's only part of the equation. I just think that, in this market, you've got to follow the money, but realize that the "smart money" isn't necessarily smart -- it's just bigger than you. If you are an individual investor, it's easier to take profits than if you own 500,000 shares.

Don't get caught standing behind the block sellers when the party's over. Maintain discipline, and set trailing stops. In this tough market, paper profits should always be converted to realized profits



To: Larry S. who wrote (38774)3/4/2002 2:11:25 PM
From: Nemer  Read Replies (1) | Respond to of 53068
 
ELNK ....

the 10 area will prove very interesting for this one ...
as it appears to be gathering strength for an attempt at tenbucks ..... tomorrow or Wed ......but it will need a higher volume to breach there ....
and 9.60 needs to hold for today ...
this is assuming you are a longie .....

ITWO ....

6.22 needs to hold up for today ...
and
HARD resistance will be encountered at the 6.90 level ...
but
IF it breaks there ....and closes above today/tomr/Wed ....
happydaysarehereagain for this pup ....

I'm playing plumber right now ....
yard man *(his belt size and IQ are roughly equal) removed the bucket I had over the cutoff/checkvalve/antisiphon manifold for the sprinkler .....
and hooked a water hose up to the outlet ....

sonoagun evidently thawed out from high teens freeze this weekend a couple of hours ago .....
messssssssssssssy and frioooooooooooooooo
and my poor sweet little delicate hands are blue with cold ....
and my nose is running ....

sheeeeeeesh ...

so whilst I am getting a bite to eat and thawing out I ran the BCT on these two you asked about earlier ...

I hate cold ......