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Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank -- Ignore unavailable to you. Want to Upgrade?

To: Chuck who wrote (41500)	5/22/1999 3:51:00 PM
From: Jenna	Respond to of 120523

FNM.. does that bring back memories.. I had traded this wonderful stock quite frequently during all of 1998. It was an earnings play at least 4 times. I used to buy the calls before earnings and a little after earnings. Unfortunately around January 1999 I left it and neglected because of the internet sector and because its trading patterns abruptly changed. Actually they changed to 7-10 cycle swings in both directions which I just stopped following. You are right FNM is sitting on support and it looks oversold. Your post is also timely because its time we begin returning to trading stocks like FNM, COF, etc. We are getting both overbought and oversold stocks in these markets, so it would be a waste not to take advantage of the oversold ones like FNM when the overbought ones are looking toppy and close to correction. In fact a good idea would be to purchase calls in the oversold ones like FNM (that have a track record ) and wait for them to appreciate, since they are very cheap. And now we have a plethora of oversold stocks to choose from since you might as well add the Internet banking sector, and some other plays on the oversold side from the internet sector.