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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
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RealMoney.com : TSC Technical Forum


Don't Fight the Tape on Krispy Kreme

By Gary B. Smith
Special to TheStreet.com
11/08/2001 07:29 AM EST

Oh, let me guess. The fundamentalist who's arguing against me in today's Face-Off is railing against Krispy Kreme Doughnuts (KKD:NYSE - news - commentary - research - analysis). And I bet it's the normal stuff about valuation, growth rate, profitability, etc. Let's see, if we're lucky, there's probably some gem about Krispy Kreme having 100 times the market cap of ... McDonald's (MCD:NYSE - news - commentary - research - analysis) (that's not true, by the way, but you get my point).

Again, though, this is where the fundies always fail. Sure, they tell a good story. An honest story. A credible story. But, it's still the wrong story! The real story -- and, frankly, all you need to know -- is that KKD is one strong stock!

Look, I don't think it should be where it is. And candidly, every time it looks as if it's breaking down, I want to short the thing. But it doesn't break down for long and instead always rallies back. So don't fight it. Instead, get long when it makes its next breakout!

Remember, most of the die-hard fundies missed the '98-'99 tech rally because of "valuation." Sure, they cluck now that they avoided the big selloff. But, I'll tell you, if you paid even one iota of attention to technical analysis, then you could have made a bundle during that run-up and still have gotten out in plenty of time to avoid the worst of the selloffs. That's the stuff the fundies never tell you, though!

Who won today's Face-Off?
Gary B. Smith

Glenn Curtis



See Results


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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
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10 Yr
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SPDR Gold
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Gary B. Smith is a freelance writer who trades for his own account from his Maryland home using technical analysis. At time of publication, he held no positions in any securities mentioned in this column, although holdings can change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Smith writes a daily technical analysis column for RealMoney.com and produces a daily premium product for TheStreet.com called The Chartman's Top Stocks. While he cannot provide investment advice or recommendations, he invites you to send your feedback to Gary B. Smith.
Read our conflicts and disclosure policy.
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Sorry, the page you requested could not be found

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,309.92 1,091.49 2,138.44 32.31
Oil *
77.12
DOWN
154.48
DOWN
19.14
DOWN
37.61
DOWN
0.48
10 Yr
3.23%
SPDR Gold
115.06
-1.48%
-1.72%
-1.73%
-1.46%
Data delayed 20 minutes