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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (36530)	3/22/2002 10:41:27 AM
From: Johnny Canuck	Read Replies (2) \| Respond to of 67879

[madtrader] Fri Mar 22, 7:11am PST AMAT A friend of mine just emailed me and said he was caught stuck with AMAT from the open. What he means is that he paid at the high this morning and is now having second thoughts. Well, folks, I have to say that is a very common mistake traders make. And it isn't until after one has paid enough tuition does a trader realize the hazards of trading near the open. I certainly paid my fair share of it. Which is why technicians put a great deal of emphasis on closing prices and not so much on opening ones. Or as the Street like to think, the opening is for suckers. To avoid the pain or the merely feeling of being "had", here is a simple approach. Sit out the first 15 minutes, regardless the hype (as is the case with AMAT with their 2:1 split announcement). Watch the trading high and low of the first 15 minutes like a hawk. These two levels will tend to serve as support or resistance for the rest of the day. Readers following this space will recognize that from time to time I bring up the fact a stock has broken above the first 15 minute high later in the trading as a reason to go long. So back to AMAT, the high for the first 15 minutes is 53.40, and the low is 52.55. If and when the stock trades above 53.40, one should go long. Since it is broken below 52.55, I would not bother right now. If one is aggressive, this is actually a short. none

To: Johnny Canuck who wrote (36530)	3/25/2002 5:30:35 AM
From: Johnny Canuck	Read Replies (5) \| Respond to of 67879

Running list stocks confirming/upping guidance March 22,2002 MCHP NXTL ANAD ANEN RMTR TTWO RCL UCL ELBO * TREE EK ITRI SMRT TSA CYMI PNR GM GE INSP CD ESST UAG EMN ROH TSG KEM PG CKFR CLX TKR DL TRB JILL FO TIBX EXEL ALLY STN UAG EMN JBL** IDTI SHW MVIS BYD GE FINL PFE GGC CBRL WTSLA BOL YELL TWR * ELBO sold off despite beating numbers for earnings ** JBL reducing rev for next 2 Q's, ups EPS due to better tax rate, ups rev and EPS for year, large new contracts 2H