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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Nimbus who wrote (2687)	3/11/1998 9:11:00 PM
From: steve goldman	Respond to of 4969

My opinion (and only time will tell if it proves right) is that stocks that stumble, stumble again. This lawsuit will not just go away. It might cause the company to spiral down and fade into obliion. Mutual funds usually dumped disasters like this, uncaring about the buck or two but rather just wanting to get out to not have to show it at qtrs. end. USUALLY and I stick to this, gap losers continue to slide under constant pressure and remain underpressure as they recover from trades who bought for the bounce. Its nothing exact, but I usually dont buy a stock until the THIRD nice bounce. ie. wdc...seg...iom...orcl...etc. The first bounce is usually followed by day trader liquidating, then bargain hunters flock and take their short term gains, pressure stock again, and then when it quiets down, 6 weeks down the line, it could be a buy....Look at EFII all you wanted at 11 and 12....i didnt go because it i was waiting and missed out on 100% return (if its where I think it is around 24ish)..notheless for the most part, this discipline seems to work and I consider myself a talen in bottom fishing/bargain hunting. Regards, Steve