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

To: Jenna who wrote (6568)	3/26/1998 9:28:00 AM
From: Jerry Olson	Read Replies (2) \| Respond to of 120523

Good Morning Jenna et all... Last night i looked at all my stock and option positions...after catching up on Dorsey's Market outlook, i thought I would update the thread on my own feelings about current direction... There is a lot of skepticism out there on the next move in the market..OEX & DJX put/call ratio's are decidedly bearish, and that is a contrarian opinion ala Bernie Schaffer means we are going higher...It's only when speclative call buying becomes evident that he feels we would be at "The" top...i agree...the market has climbed this "wall of worry" at non stop breakneck speed...large money flows stll in tact and will continue till Apr 15th... We need a pullback to keep this roaring bull intact!!!!I think we will get it...My guess will be after Apr 15th & during earnings season...when money stops flying in, then the market will simply deflate... However Dorsey is now cautious, as their indicators on the NYBP(DOW) have gone over 70%..it's a red flag warning...this could move to 80-100% as well...no guarantees we selloff because of this warning...I have seen this before..last year..the market ran for about 3-400 points then correted...THIS MARKET is much more powerful IMO... Anyway FWIW...anyone with Apr May options(that's me<g>), should begin to take profits...I have been leaving my options run looking for 3&4 baggers, no more...I have consistantly looked for a double on all my option trades...I am now doing JUST THAT!!!! I am re examining my open positions on any sectors that are over 70%...I have been playing at the top, trading 'Breakout" stocks for excellent profits...well i'm NOT doing that at this juncture, until after we correct... The tech sector has started it's run now...It's sector percent is at 40% in a Bull Alert Status...meaning there is plenty of room for these stocks to run...the fundies are rotating out of the high priced stuff into the "percived" better value plays..ie: the semis & semi equips..I will not participate in that sector, and will begin to short those stocks that run up prematurely...I'm sticking to my guns and still saying that ASIA is far from over & NOW Japan could be a BIGGER problem on down the road... Of course this is JMO....here's my stuff for the day... WATCH LIST ICIX--SOLID TELE CO AMR--SHOULD SPLIT WITHIN 60 DAYS HAS BOD MEETING IN MAY GSTRF--ROLLING AOL--OVERVALUED POWERHOUSE MLHR--GREAT EPS WILL RUN T--I'M REMOVING THIS FROM THE LIST--TOO SLOW FOR ME<G> LHSG--I SAID BUY THE DIP???? IT SOLD OFF YES. 6+ POINTS ON 8700 SHARES??? WOW!!! CRAZY LITTLE STOCK...I'M TRYING TO ENTER IT TODAY--I THINK??? WSGC--NICE CO- HBOC--ALREADY ANNC. THE SPLIT GOOD EPS LEH--GREAT EARNINGS AND MOVING IN SYMP.WITH MER VOD--EXCELLENT TELE. CO PULLED BACK SHOULD MOVE HIGHER LONG/APR/MAY CALLS CCL--GEE THIS IS NICE AND IN A 50% SECTOR I'LL HOLD WFMI--SECTOR 70% WILL LOOK TO EXIT SHORTLY PFE--WHAT CAN I SAY...I MAY BUY A PROTECTIVE PUT JUST IN CASE... RXSD--HAS PULLED BACK SHOULD MOVE...HOLDING KSS--LIKE THIS STOCK WILL HOLD LHSPF--SPECULATIVE PLAY BUT SHOULD EXPLODE YHOO---YIPPY-YIPPY-YIPPY AHP---BAD BUY, WILL SELL AND USE THE MONEY ELSE WHERE...I ALREADY OWN PFE, DON'T NEED 2 STOCKS IN THE SAME SECTOR... STILL LOOKING AT AMR-BEL-LEH-LHSG....... MY REGARDS, JERRY