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Sean,
My work shows the following on your picks:
DYN and CIEN are showing signs of retracing. DYN gave a sell signal today
with pivot dates of 7/7 and 7/15. Maybe your buy stop will be ok but be
careful. CIEN & LNCR have a high pivot forecast for 7/9 and 7/18-19.
MXIM, NOVL & EXTR all have pivot dates of 7/12 so I would be in for a short
run only.
----- Original Message -----
From: Sean Cassidy <scassidy@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxx>
Sent: Thursday, July 08, 1999 3:51 PM
Subject: my momentum system with 6 picks
> OK, here we go!! In my admittedly amateurish approach, i have
> developed a very basic, simple momentum based system. Basically, i
> look for stocks that have just hit 60 day highs on much higher than
> normal volume. Then i look at the 90 chart to look for the best
> setups, nothing that has gone up 20 points in two days, etc.
> basically just looking at the chart to see what looks best. Then i
> place a buy stop, either phsical or mental (depending on the market),
> 1/4 pt or so above the HIGH of the previous day. Thats it simple,
> easy, and it worked well in april, not so well after. I generally
> look for 2-3 points with a 2 point stop. With that said, i will offer
> the results of my research, i may be emabarrassed, i may be
> huniliated, but at least i tried. I hope others will follow my lead.I
> know how to predict the past, maybe all the smart people out there
> can help me with the future!! Here are my picks for Friday:
>
> All are longs (works best for momentum plays)
>
> cien above 35 7/16
> mxim above 69 5/8
> dyn above 23 1/8
> novl above 30 1/8
> extr above 62 1/4
> lncr above 30 3/4
>
> there the are hope i can face everyone after the close fri
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