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Strategies & Market Trends : LastShadow's Position Trading -- Ignore unavailable to you. Want to Upgrade?

To: BoNg-N-BoNg who wrote (1169)	10/13/1998 7:22:00 AM
From: LastShadow	Read Replies (2) \| Respond to of 43080

INTC, CPQ and BRCM Alien, BRCM could still run up another 5 points before it rolls over. I just think it will be a whole lot easier to look for the top and kick the snowball off than chasing it uphill. Yes, CPQ and INTC earnings will have a lot to do whith any sector wide dump or short rally. However, I don't try to forecast what it will be. I just wait to see what happens and react to that. I didn't get my wish to be clairvoyant, so I figured I had to be quick or smart. The latter theory being if I am smart, I don't need to be quick and if I make a dumb play, then I need some speed to cover... To answer the question, I think it will probably be immaterial whether INTC and CPQ meet or don't meet their numbers. The reson being that after two beatings, most of the overvalued stocks are corrected to a baseline that is pretty visible in the charts, and most haven't made any progress back up of any signifigance. INTC can miss its numbers and it wont be affected much. CPQ could miss and drop 6 points and recover most of it that day. I personally don't think the analysts have a clue and that as long as it sounds plausible we should nod our heads thoughtfully, and then watch the tick and not fault them if they are wrong. Sell and short CSCO at 51.75 lastshadow