Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Jenna who wrote (4421)	12/22/1997 4:30:00 PM
From: Jenna	Read Replies (2) \| Respond to of 120523

The Oil Drillers/ Service Sector or Daytrading Profits R' Us...... Techs were fine today as good daytrades were possible in TKLC, JBIL, SCTC etc. But the really good daytrades were in the oil service sector again and the "news" stocks. EVI, RON and DO were all good for 2 point gains before they finally retreated. Stocks in this sector have to be watched very carefully in the morning. I usually get in when they trade 1/2 point above yesterday's close and watch for 1 to 1 1/2 point gain. Stops set at 1/2 point BELOW my buy point. CONCLUSIONS: stocks in oil service sector, even though they have not bottomed as yet, are volatile enough for good daytrading ranges of 1-4 points. This is due to their strong fundamentals, positive "news" stories", acquisitions, contracts. What results is a tug-of-war between their technical picture and their fundamental picture. MAT and MHO were both good for over 1 point today on "STRONG BUY" recommendations and "BUY" recommendations respectively. MAT which I've been watching since Friday's upgrade was up over 1 3/4 after having been down over a point in the morning. CONCLUSIONS: Stocks that are given "Strong Buys"* that are seemingly ignored will inevitably gain in the next trading session (i.e. SIGR (Signature Resorts) was upgraded to a strong buy in the in the middle of last week, it was totally ignored but the next few trading days saw a two point gain, as was the case with MAT) *MAT was given a STRONG BUY recommendation on Friday, but the stock tanked over 1 1/2 points.