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

To: Dave Gore who wrote (9910)	7/24/2002 12:56:18 PM
From: Dave Gore	Respond to of 16631

Buying the ODOD's is a perfect strategy in this "Sell First - Ask Questions Later" market. We've discussed this for months, but for new visitors, here it is again... Just think --- all these people selling in a frenzy, even though they know that most of these insane-sounding rumor have virtually no chance to be true. They are mostly just concerned that some guy will sell before they do. They forget all reason, as it just becomes a game to the trader. They often even know that the stock is cheap fundamentally and technically when they are selling it! Stocks get easily overdone to the downside, sometime way overdone in this market. It's perfect, especially like an EXPE where you had year low support at $41 and a great earnings report and guidance and low PE/PEG. And a 13 pt. drop from yesterday. Great Reward/Risk is the only way to go for me now, especially when a stock has major underlying chart support, low PE/PEG, had good earnings and good guidance. NOC @ $93 was a killer buy a couple days ago. My favorite on Monday for an excellent R/R. Was getting killed even though it was already down 40% off highs, in the strong defense sector no less! Didn't make any sense.