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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 (15645)	9/25/1998 6:31:00 PM
From: Jeff Jordan	Read Replies (2) \| Respond to of 120523

Jenna, I hope we see a sell off Monday am....I missed buying a few stocks as they dipped today while at work...I gave it a quick thought and did place a couple buy orders but wasn't filled. It's very hard for me to trade if I'm not looking at a RT chart. I only have intimate knowledge of a few stocks which I can trade on price alone. I would have liked to have bought more TLAB @ 45....I should have had a limit order in for such an event. I did have one to sell @ 47.5 which was struck. Closed @ 46. I'll be home trading on Monday. I am looking for an anticipatory upswing in the broad market Monday in advance to lower interest rates. That's why I was trying to buy yesterday and today. I also missed a shot at ASND today @ 45...RMBS is off to the moon now. I've very sorry I sold my core shares which I had from $35.5 ASND was my pick of the Month for September it has done very well. My October stock of the Month will be AFCI it closed today @ 7 11/16 I will announce it this weekend when I update my site. Jeff

To: Jenna who wrote (15645)	9/25/1998 9:32:00 PM
From: Kenneth R Miller	Respond to of 120523

Cat like reflexes are a must..

To: Jenna who wrote (15645)	9/25/1998 10:36:00 PM
From: Arthur Radley	Respond to of 120523

GNE will be rocking and rolling on Monday. FDA gave final approval for their breast cancer drug, herceptin, tonight. Should bode well for other biotechs.

To: Jenna who wrote (15645)	9/26/1998 12:09:00 PM
From: Patrick Slevin	Read Replies (1) \| Respond to of 120523

Hi Jenna I was attracted by your opening comment, <SELL into weakness and BUY at strength.. Ridiculous, right?> I hate to be sketchy about it, but I have no precise knowledge of how she did her analysis. However a Futures trader I know ran a study of intraday trading for the past 10 years and came up with the conclusion that as the futures trade up (or down) in extreme fashion they tend to get even more extended in the same direction. That is to say, if the futures are up 6 or 7 points the odds favor 10 to 11 and so on. Sort of saying a "Body in motion tends to stay in motion", I suppose. This is not to say, as you point out, that a gap down or up in the futures should be traded in the same direction, just that as the day progresses the "odds" are that a trend in one direction or another will tend to continue in such a direction, barring outside agencies, such as a speech by Greenspan or whoever. I'm sorry I cannot get overly specific about her work. I do plan on seeing her in the late Fall sometime and hope to get a more detailed run-through on it. I imagine one can point out Momentum trading or any of several other things that would make it appear that such a study is useless; but I for one have always been a bit reluctant to "sell into the hole" or buy a Futures market that is up 18, say. However, mathematically it appears it's really not such a bad idea from what I understand. Just a thought.