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Strategies & Market Trends : The Art of Investing -- Ignore unavailable to you. Want to Upgrade?

To: Sun Tzu who wrote (152)	10/5/1998 2:15:00 PM
From: Sun Tzu	Respond to of 10655

Ok, let's get back to the topic of trading strategies. I'd like to draw you're attention to the subject of TDFX, not because I'm own some shares, but because as my only net long position at the moment, it is the only one I can fairly analyze. Rule number one: Always go with the strength. In the past 2.5 weeks, TDFX has under-performed the market in only 3 days and has vastly outperformed the market over all. Even today at with Nasdaq down over a 100 points, TDFX is up ~2%. So what does this mean? That the support level is solid like a rock, and that anyone who wanted to sell has already done so. Does this mean that TDFX will take off like a rocket on an up day? Not necessarily. I interpret today's action as lack of sellers. We have to wait for a few up days to see if there are also an abundance of buyers. If so, by all means add to your position. If not, the most likely reason is that investors are waiting for the earnings release (and more importantly the conference call) on Oct 15. So we will just have to wait and see. At this time tough, I feel we've seen the bottom. As always, comments are welcomed. Sun Tzu