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

To: Stockdoctor who wrote (5369)	2/10/1999 3:09:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 11130

rfgi lovely stock to trade. Just bought BIGC 1 1/8, 5/32, fire sale

To: Stockdoctor who wrote (5369)	2/10/1999 4:54:00 PM
From: Kimberly Lee	Read Replies (1) \| Respond to of 11130

PCNTF received a nice mention by a guest analyst on CNBC. Within minutes, the stock took off and ran for a few points. I don't know how much longer it will hold the course, though. I played RFGI many times today, many profitable trades. The last trip was shortly before the close, picked some up at 10 1/4, 3/8 and sold them at 11 7/8 and 12 right at the close. Not going to hold this overnight, way too risky. If it has more momentum tomorrow, I can always reevaluate it in the morning and buy it pre-market. YHOO closed right at 50ema yesterday and it bounces above it today. As yet, I don't find this mini rally convincing, expecting instead that it would retest it again in the next 2 or 3 trading sessions. The LCOS merger yesterday really casted a dim light on the already pressured sector. Personally, I won't initiate any position trade until I can fathom the direction of the market and the several major sectors. Later on today, I will be updating my charts on DJIA, $COMP, SPZ, SOX as well as other indicators such as A/D lines, P/C ratios; perhaps I will get a better read then.