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Strategies & Market Trends : Take the Money and Run -- Ignore unavailable to you. Want to Upgrade?

To: quote 007 who wrote (5086)	6/24/2002 10:43:42 AM
From: quote 007	Respond to of 17639

finally shorted ivgn @ 31---stop is 36

To: quote 007 who wrote (5086)	6/24/2002 7:41:10 PM
From: SusieQ1065	Read Replies (1) \| Respond to of 17639

New Play - Tech Stocks Friday, June 21, 2002 Short (Bearish) Play -------------------------------------------------------------------------------- First Data Corp - FDC close: 38.27 change: -1.83 stop: text Company Description: First Data Corporation provides high-volume information processing as well as payment instruments, card issuer services, and merchant processing services for the credit card industry. Why We Like It: First Data has been struggling to rebound back above its declining 50-dma for over four weeks now. Unlike stocks in the homebuilding and defense sectors, which have been able to move counter to a deteriorating market, FDC is hostage to broader market forces--and weakness. Technically, FDC is demonstrating an unusual, interesting and bearish formation on its daily RSI: a head and shoulders top which has started to break down. Patterns on the RSI are frequently more powerful than those appearing on price charts because they are predictive: once the RSI pattern emerges, or breaks down, prices are likely to follow. Our strategy will be to short FDC as it moves below the 200-dma, on which it effectively closed tonight. Once FDC trades below $38.10, we'll short it, with the following qualification: we will not take a short position if it gaps below $37.50. Our buy stop will be placed above the 50-dma, and associated resistance, at the $40.55 level. Our official profit target is $34.10. Picked on June xxth at $xx.xx <- see text Change since picked: +0.00 Earnings Date 07/11/02 (unconfirmed) Link to Current Quote FDC NEWS Zacks on FDC ~PremierInvestor