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Strategies & Market Trends : SPARKY'S CORNER -- Ignore unavailable to you. Want to Upgrade?

To: Bruce A. Brotnov who wrote (3185)	6/21/1998 2:25:00 AM
From: Ken Carter	Read Replies (2) \| Respond to of 4142

Bruce, Good evening, Happy Fathers Day to all those Dads out there. Also to all those single Moms that do the part of Father and Mother. I was there once and believe me, it's a LOT OF WORK! Hope you all have a great Sunday. My family is taking me on a cruise of the SF Bay with a stop at Alcatraz. Have lived in the Bay Area all my life and have never taken the time to see it. Will be a great time! Let's get down to the nitty gritty... Is the market going to go up this next week or not! I know I'm getting tired of this UP, DOWN, UP, DOWN... We need a trend! And not the trend that I'm seeing right now. Now I'm not afraid to short stocks, but when you get a 100+ down day followed by a 200+ up day then another down day... it's TOUGH to short stocks... makes my stomach turn.. There's one thing about shorting stocks... The BEST you can do shorting is 100% but the UPSIDE is SCARY. A Shorted stock can get a buyout, find money, get some PR and BOOM, up it goes and there you are, on the losing side... so I'm still looking to make money on the LONG side. Even in a BEAR market, some stocks go up. It's just a matter of finding them... ( This is NOT a bear market yet) I think there is still some downside to this market. We need some sideways movement to help stabilize things. Then we can start finding some BIG winners on the next leg up. Here's how I see the markets this week. RUSS2000: 438.47" Nothing's changed from last week. Still looking at 414.70 with some support at 421.70 What we need is a rush out of the Blue Chip and into the little guys...(G) DJIA: 8712" Wish someone would make up their minds and either get the correction over with or stop this BS and take the market higher. Downtrend is still in place. We get these drops and then a jump only to be followed by more downforce. 8586.99 looks to be the next target before it turns again to sucker in more people that think it's the bottom....Believe they call that the SUCKER BET! Be Careful out there! NASDAQ: 1781.29" Bucking the trend, went pretty flat on Friday. Only a 10 point gap between the high and the low. Should hit 1792 Monday only to fall later.... Let's hope it can hold 1792 and move up... Go ahead NAZ... PROVE ME WRONG! (G) IF not, 1714 could be in the CARDS... Here's a couple of stocks I found this weekend that may have some potential for next week. TOTL: 3 5/16" Nice chart. Short term target 4.25. APGC: 3 1/16" RISKY! Looking for a play on emotions and Follow the leader type stock. Could get one more day out of it before it stops... Big move on Friday. SHOULD get a follow thru on Monday but watch for the selling around 10:30 am PST. Would not be suprized to see it end the day lower.... IFLY 7 7/8" Target 9.50 Did well Thursday and Friday. Looking for follow thru on Monday. CEGE: 8 31/32" Breakout on Friday. Long term resistance 10.00 Something's up with this one.... SHM: 2 1/8" Like the Eveready Bunny,,, keeps going and going... 2.25 short term resistance. Hopefully it can get thru that without too much trouble.. Wrote a new scan for searching for Lower priced stocks. Set it to look for stocks below 3.00 to see what would come up. Here are the results of that scan. SCPI: 1 1/8 ILT: 1 3/8 WTT: 2 15/16 This scan has NO track record and has not been tested. So, let's test it together! We will be watching these this week to see how they do... That's it for this week. Good trading and be sure to keep some cash on the side for those buying OP's that show up every once in a while! Ken Carter (SKU) Web Site Address: sku.com