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Strategies & Market Trends : Three Amigos Stock Thread -- Ignore unavailable to you. Want to Upgrade?

To: Prof who wrote (9364)	10/10/1998 3:09:00 PM
From: Ken W	Read Replies (1) \| Respond to of 29382

Prof, Now that we are in Las Vegas style investing, it is very difficult to make money, but IMO there are trading opps. all over the place, as you have proven time and again. :-) Here is a coin toss for you and any others that may have an opinion. FILE: Filenet, announced that they were going to miss estimates by .32 from pos to neg in 1 Q.(news) The stock was at 10 3/4 and they release this bomb after the bell. Naturally they gap it down to 3 and change in the morning and the panic set in, however, bounced off of 4 and trades up 2+ on excellent volume yesterday. Now the coin toss :) Overbought, oversold shows long term oversold, due to the recent down turn in conditions. Oversold (shorter term) looks to be that the stock is making a dead cat bounce and could go higher. Does one buy long or go short at a little higher price as the longer holders are looking to get out near even? hhmmmmmmmmmmm, what to do. IMO it will go a little higher to the low 7 range and then tank back to the low 4's. Opinions? Ken