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Strategies & Market Trends : 1-DAY-TRADERS on MOMENTUM - Short & Long Stock picks -- Ignore unavailable to you. Want to Upgrade?

To: 1-DAY-TRADER who wrote (6)8/10/1998 2:42:00 AM
From: VTO  Respond to of 537
 
BYL, COO, and SPW all had huge runs in '97, but they ran out of steam between Feb. and Apr. of this year. As the Dow marched to new highs in mid July, they were all making multi-month lows.

These stocks are currently very oversold based on the 14-day RSI and MACD, so it would be wise to wait for a 5 to 10% bounce before shorting them. However, their current downward momentum is so strong, they may not bounce.


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