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Strategies & Market Trends : WR's Momentum Trades -- Ignore unavailable to you. Want to Upgrade?

To: SteelerStu who wrote (3755)	1/31/1999 9:38:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 11130

thanks, Steel. I sold 1/2 of PRFM during the opening gap and sold the rest between 11 7/8 to 12 1/4 when it failed to fill the gap to resume upward momentum on Friday. I did buy some back before the close, waiting for what Monday will bring, with the opening of the web site and media attention. The mini selloff of PRFM was the converging results of several factors: Anthony's short recommendation, profit taking before the weekend (the stock had been advancing four or five days consecutively, can't blame them if some traders, including myself, wish to lock in profit) and confusion with the Nasdaq data delay during Friday afternoon. Friday's trading pattern, strictly technically speaking, represents an exhaust gap with price declining on record volumes, not a bullish sign. But if PRFM is really getting the media's attention on Monday and Tuesday, and the web site opens on schedule without glitches, I would say we have some upsides left. If CNBC starts pumping it tomorrow like they did with SKYM and DBCC, well, we are going to see 20 easily. If there is cool or just luke warm reception from the media, I would seek to exit as soon as possible. There is rumors that PRFM may be forming an alliance with AMZN or YHOO -- if that's the case, we will again have a few points to the upside.