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Ask The Trader
Monday, August 28, 2000

What's Your Trading Goal?

For nearly everyone who reads Splittrader.com, the goal is to develop better trading and investment skills to take advantage of market opportunities. These trading skills are acquired through education and practice combined with the ability to act on opportunities. Developing these skills requires a lot of effort and patience. However, once the entire process is executed successfully, confidence grows and trading becomes easier and maybe even a little more fun.

Now on to the charts!


Wish you would cover SPW....looks like it's a likely split candidate, it's a great co. and got an upgrade this past wk. to $325. \Thanks...Anne Leach

SPX Corporation has become a $2.7 billion global provider of technical and products and systems, industrial products and services to 19 countries. The company has performed well this year, which is reflected in the stock price. As for a split, SPW has 50 million shares authorized and 31.2 million shares issued, which means that management will need to authorize additional shares for a 2:1 split. We were unable to find any upgrades listed for the stock over the last couple of weeks, so you may want to re-confirm this if the upgrade/price target was part of your plan to buy. However, the stock has developed into an interesting formation that may be nearing an important turning point.


Hello,

I have a question on six stocks. I sold the following stocks on Aug. 7 before Cisco's earnings, thinking the stocks would fall. The stocks are Cisco, Exodus, Orcle, Nortel, SunW, and EMC. I was wanting to buy them back at a lower price, but all went up except Cisco. I did get it back.

Thanks for your thoughts! Ken


You've given us plenty of big names to choose from here, but why don't we start with a couple of picks for this week. Also, refer to our Ask the Trader of 8/7 for a CSCO chart, which has reacted well to our designated levels.

Greater speed and reliability to meet with an increasingly complex Internet is the task of Exodus Communications. Recently, the stock was able to break above the upper channel of an ascending triangle. This bullish formation can be confirmed if EXDS can exceed its two near-term resistance levels, denoted on the chart. Keep a close watch on volume.

With 93% of dot.coms using Oracle software, the company has developed into the world's largest supplier of database software for information management. In looking at the chart, the first thing that comes to mind is the potential for a double top at current levels. ORCL may be setting up for a near-term pullback. Keep a close watch on the NASDAQ for an early indication of a trend. With that said, you may want to hold off on buying early on the pullback, since the stock could be set for a greater fall.

Good luck with your trades!
Mike Fairbourn
Research Analyst

 


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