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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: nokomis who wrote (43059)	6/3/1999 5:37:00 PM
From: lee kramer	Read Replies (4) \| Respond to of 120523

BURJIS: (Comment) While we're all watching the employment number due 8:30 tomorrow harder than many of us wait for Pauxatoni Phil to come out of his hole lookin for his shadow signaling 6 more weeks of winter...I keep thinking about the time I was a handicapper for a harness track. Harness racing had been my love since I was 16 and over the years I became a fairly decent handicapper. So I went down to the track and applied for the job. "We got a handicapper" they said. Next day they call me, "You got the job". "I got the job?" "Yeah, our handicapper got hit by a bus." Anyway, I'm handicapping pretty good and soon owners, trainers and drivers are asking ME how I think their horse will do. Whoa! They're the ones who're supposed to know. But, with few exceptions, they didn't. I learned not to rely too much on the "experts" opinion. But what I'm gettin at is the way this relates to the market. A horse that should've gone off at say 4 to 5 but went off at 5 to 2 was what we called an "overlay". For some reason the betting public would put their money on one or two other horses. This might happen once or twice during a ten or twelve race card. I made a living betting "overlays". Same thing happens sometimes in the market; the "betting" public ignores one (or more) stock(s) and buys another. Or they all sell one stock, or sector. You KNOW that many people can't be right. That's why it makes so much sense to watch Jenna's watch list and Earning's Plays. And why it's likely that most of the "betting" public is gonna be wrong at the "trading" tops and bottoms. Gonna be real interesting tomorrow watching the money flows if the number is "nasty". Lotta opportunities to buy if we see some dumping on heavy volume. (Lee)