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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: aerosappy who wrote (20049)	8/18/2003 10:34:10 PM
From: chowder	Respond to of 23153

Aero, I'm almost reluctant to mention my selections publicly. Someone invariably comes up with an intelligent reason not to buy and then doubt creeps into my mind. With doubt comes reluctance to pull the trigger and then I miss out. However, over the weekend, I did mention PKN and MTRX in the energy sector. In fact, I asked Gottfried about the MTRX point and figure chart over here. Today MTRX was up 10.3% Here is my post on the subject: finance.messages.yahoo.com I also mentioned ADIC. It broke out nicely on Friday and I thought it was a buy today. I don't like the way it pulled back off its high today though. It did end the day up 4.8%. Here is that message form over the weekend: finance.messages.yahoo.com Yesterday, I mentioned KNSY to a couple of folks who frequent this thread, via PM or e-mail. I think KNSY is an intermediate term play as opposed to a short term trade like my other selections. KNSY was up over 3% today. stockcharts.com[h,a]daclyiay[pc20!c30!b10!i!b50!c40!f][vc60][iut!Lj[$spx]]&pref=G Since the market is trending higher, my indicators are price, volume, chart patterns and outperforming the S&P 500. I want to see the price above the 10, 20, 30, 40 and 50 day moving averages. I want to see volume above average. In most cases, I want to see prices breaking out to new highs. There are several reasons I think this strategy will continue to work ... PROVIDED THE MARKET DOESN'T CORRECT. You don't have the shorts putting pressure on prices breaking out to new highs. You don't have any overhead supply coming to market and putting downward pressure on pricing. Institutions will normally step up and buy stocks that are outperforming the indices. I think I mentioned buying WEBX last Friday but, I don't recall where I posted the message. (I think it was to KB via PM.) I bought WEBX even though it isn't breaking out to a new high. I did this because WEBX pulled back on light volume, (a good sign), and it broke above all of the moving averages mentioned above. The volume is starting to show up now as well. stockcharts.com[h,a]daclyiay[pc20!c30!b10!i!b50!c40!f][vc60][iut!Lj[$spx]]&pref=G It may not break resistance at 18, I'm not sure yet. However, I thought there was enough profit potential between my buy point and resistance to take a short term trade. The condition of the market will determine my action in the coming days pertaining to WEBX. I haven't researched my selections for tomorrow yet. I'll do that later tonight or early tomorrow morning. DGIN and DKS showed up in one of my scans tonight. I need to follow up on those two before making a final decision. I want to see who is in their sector, that could be just as good, yet hasn't moved as quickly and might be due. The strategies I'm currently using are to buy strength when the market is trending higher. If we see a market correction, I will look to the short side ... BUT ... I will only short stocks whose price is below those moving averages listed above and doing poorly against the S&P 500. I won't short a stock coming off a new high or a stock heading into resistance. If I'm going to short, I want to short weakness. I'll be looking for an opportunity to short CTXS. Here is a company whose price is rising on low volume. A company who already expects to disappoint in the third quarter. A stock that is underperforming the S&P 500. This company should pull back very nicely in a market correction. I'll cross that bridge when the time comes. stockcharts.com[h,a]daclyiay[pc20!c30!b10!i!b50!c40!f][vc60][iut!Lj[$spx]]&pref=G My fingers and brain are tired. I need to rest now. dabum