Gary B. Smith Chats on Yahoo!, Dec. 2

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Gary B. Smith chatted on Yahoo! on Thursday, Dec. 2, at 5 p.m. EST. As with all chats, this transcript is unedited.

gsmith4:

I have some good columns coming up. You will definitely want to read my Monday col! And also, if you get the Fox News channel, watch me destroy Adam Saturday morning!

tunakillerr asks:

What would be your estimate on stock price for LORX when the Philips (Distribution and Marketing) Final Contract is announced?

gsmith4:

Really no idea. That includes fundamentals which I have no idea of. Sorry.

websterbrown asks:

What is your opinion of INPR

gsmith4:

INPR. Funny you should ask: watch Adam and I duke it out over that one on the TSC show this Sat!

loverofcoterotie asks:

what about technical situation of psft?

gsmith4:

Looking real good here. I'd be a buyer.I

nTheBlack71 asks:

Do you think the Nasdaq is now out of the woods with today's new high or is it headed lower still?

gsmith4:

I'm sticking by my 3800 call I made on the TV show.

InTheBlack71 asks:

How does HLIT's chart look to you? Thanks

gsmith4:

Caught in congestion.

curbcrusher asks:

What is your 1-2 year outlook for UPS?

gsmith4:

Not enough data to tell yet. I'd be surprised, though, if it wasn't above 80 though.

ashleyiii asks:

Gary, last yahoo chat, you told me XICO was boring. It has doubled since. Ok yet??

gsmith4:

Darn, that was the only call I EVER missed!

ashleyiii asks:

Gary, is this a blow off top on Yahoo or a breakout?

gsmith4:

Looks like a breakout. Vol was high, but not much higher than avg.

jkcfp asks:

Hello Gary from Karin

gsmith4:

HI Karin!!

DC106SHTR asks:

Gary you said if MSFT broke 95 watch out,do you still feel that way and what does watch out mean?

gsmith4:

I must have meant: watch out, it's going higher. Still feel that way.

bigshooter_82501 asks:

What kind of indicators (volume and price) indicate a gap down?

gsmith4:

You really see that more than measure it. A good example was the gap down of ABTE if you can pull that up today.

dcraze asks:

What do you think of HWP?

gsmith4:

Looking stronger lately, and I'd rather be long than short the stock.

ashleyiii asks:

Is it too late to reenter MOT or NOK? Thanks

gsmith4:

Both are fine.

y2k_Internet asks:

What is a reasonable way to find good potential stocks for breakout without having to go through thousands of charts: WSJ or Ivestor's Business Daily?

gsmith4:

Sure, those are fine. But, really you can do all that with inexpensive software that scans on certain conditions.

dcraze asks:

What benchmark do you judge your performance against?

gsmith4:

Good question. I always try to beat whatever the top performing fund is. So this year for a while it was Janus 20. I also shoot for 100% return.

curbcrusher asks:

Have you ever arm wrestled Cramer? If so, who won?

gsmith4:

Well, we have Indian-wrestled, does that count? But, let's face it, the man is a BULL in more ways than one!

dcraze asks:

What do you think of Intel?

gsmith4:

Dullsville right now, I'm afraid.

schwism asks:

Does today's action on MMWW signify a breakout from a double bottom base? Is the stock a good play from here or is it overheated?

gsmith4:

Actually , a bit of both. It did breakout from the June high. But, the runup since Sept has been huge, so it's risky right now.

Glubman asks:

How does DELL's long term chart look? Is it a possible go-dog-go candidate?

gsmith4:

Long term it looks kind of flat. Still below its '99 high.

erpconsultant asks:

Gary do you think Commerce One would be a good buy after the split

gsmith4:

Totally depends on what the chart looks like then.

BlackCarrera asks:

What is your best play right now?

gsmith4:

Purely speculative: I like EMUS.

Glubman asks:

How much farther can CSCO go before the pullback?

gsmith4:

I thought it would have stalled by NOW!

suchaguy_1 asks:

thoughts on LU and T....thanks

gsmith4:

LU looks good. T doesn't.

curbcrusher asks:

What is your opinion of GBLX? What do you think of the rumored spinoff/IPO of their GlobalCenter unit?

gsmith4:

Foul: fundamental question which I have no idea of!

bigshooter_82501 asks:

Is zoox forming a base?

gsmith4:

Yeah, seems to be. If it can keep up the mo from today, could see 100.

research_80134 asks:

My last question on NXLK on Short Squeeze any comment?

gsmith4:

Well, the squeeze hasn't come through yet!

y2k_Internet asks:

'Would you mind recommending software you would use that can scan and categorize charts?

gsmith4:

Sure, see my 5/3 col.

treenetwks asks:

I have 15 grand to invest tomorrow - recommendations?

gsmith4:

Impossible to say w/o knowing a LOT more about your goals, etc.

dcraze asks:

AOL at 80. Going higher?

gsmith4:

Risky. It dropped below its trendline, so I'd pass.

y2k_Internet asks:

What companies/charts fair best in DEC?

gsmith4:

Normally retailers. But, now I'd say any kind of .com!

Glubman asks:

What size is your average trade ($ or shares)??

gsmith4:

Let's just say from 1500 share on up.

DC106SHTR asks:

EXDS broke it's up trend line intra-day but closed above it. What does that tell you?

gsmith4:

Saw that. Personally, I prefer DIGX! (disclaimer, my wife is a DIGX exec.)

jkcfp asks:

Gary, ideas/comments on B2B the Cramer/Jacobs way? Karin

gsmith4:

I have many thoughts on that. Let's just say, I think the enthusiasm they've generated for stocks and the site is great. But, it's obviously not my style of trading.

Glubman asks:

What's your favorite buy signal?

gsmith4:

Breakout from congestion.

schwism asks:

Comments on ANSR?

gsmith4:

Nice breakout!

Glubman asks:

What kind of modem do you use?

gsmith4:

Interanal 56K.

curbcrusher asks:

Are there any books you'd recommend to someone wanting to learn about technical stock analysis?

gsmith4:

Plenty. See my 5/3 col.

Bmesco asks:

Gary, Statistically speaking, how often is technical analysis correct?

gsmith4:

Boy, that is TOTALLY dependent on the stops and limits you use. You can make money being right only 20% of the time, but lose money being right 90% of the time!

originalformula asks:

Stocks are up and up these days... do you expect a crash?

gsmith4:

See my col from this past Wednesday!

y2k_Internet asks:

What do you think of potential for CKFR?

gsmith4:

Huge.

suchaguy_1 asks:

Your thoughts on the energy service sector...thanks.

gsmith4:

Not too swift right now.

ashleyiii asks:

Gary, are any of the B2B buyable here?

gsmith4:

Certainly not with my style of trading. But, sure, I guess if you use trailing stops or something else, they'd be great.

Glubman asks:

What do the charts say about SUNW? Pullback or to the Moon?

gsmith4:

Looks more up than down.

rvich asks:

What do you think of IBI?

gsmith4:

Not looking too smart right here.

gsmith4:

They need Hulk Hogan to dig them out of this mess!

gopman_00 asks:

When will Adam get the hint that this market is not much on fundamentals these days?

gsmith4:

Knowing him....NEVER!

broadcom_will_be_225_by_y2k asks:

Gary what kind of computer do you have?

gsmith4:

IBM ThinkPad.

gopman_00 asks:

How long have you been a chartist? Was there ever a time when you leaned toward fundamentals?

gsmith4:

Oh sure. I think EVERY technician started with fundamentals. Until they knew better!

gsmith4:

You know, I tried that a few times. I'd really love to, but I found even classical music distracting.

bigshooter_82501 asks:

What does the HGLS chart tell you?

gsmith4:

Sorry, don't have that symbol.

sweatin_bullets asks:

When you decide to short a stock, do you always sell at the market the very next day or do you sometimes place a limit order?

gsmith4:

I always go in at the market.

broadcom_will_be_225_by_y2k asks:

Gary, any advice for a student looking to enter the investment community???

gsmith4:

Yep: read Cramer's terrific series a few weeks ago. It's all right there.

Lekvar_5 asks:

Gary, I really miss when Ellen did the chats. Is she as wonderful as she seemed?

gsmith4:

Ellen is great, but you know, she got too big to deal with peons like me!

little_buffett asks:

Gary what do you think of S3's triangle right now?

gsmith4:

Hmmm, you say triangle, I say downtrend!

treenetwks asks:

CHTR seems ready to move up big time - your thoughts?

gsmith4:

Well, today's move was kind of funky: gap up, then retreat. I'd pass.

little_buffett asks:

You used some fundamentals in your breakdown of the Nasdaq chart today. How do you balance that with TA?

gsmith4:

Yeah, I was almost kicked out of the TA union for that. But, I needed something to lean on to fill out the rest of my hypothesis. So, fundamentals worked fine.

curbcrusher asks:

Are there any upcoming IPOs that have piqued your interest?

gsmith4:

Honestly, I don't follow that stuff. I know, I really need to get out more!

bigshooter_82501 asks:

Does JDSU look too extended or is it still a good buy?

gsmith4:

Looks great after today.

ashleyiii asks:

What do you think of MER holding 80?

gsmith4:

Yeah, I think it will.

redsoxman asks:

Do you like Krogers (KR) as a short and long term buy ?

gsmith4:

Certainly more of a short than anything else. But, I'm not certain I like it as a trade OR investment!

jrm11804 asks:

What does chart say about RFMD?

gsmith4:

Needs to hold that $55 area, then it might have a chance to rally again.

evck asks:

Keep cmgi or go for qcom?

gsmith4:

I actually like QCOM if it can break free from the mid-300 range.

ohyeahyoubetcha asks:

Mr. Smith, which companies do you like in the retail grocery industry?

gsmith4:

None. Silly concept I think.

Glubman asks:

Do you like Washington better than Connecticut?

gsmith4:

Oh, only about 1000% better!

treenetwks asks:

Netcentives (NCNT)?

gsmith4:

moon shot!

little_buffett asks:

What do you think of the BRCM chart? Thanks!

gsmith4:

Stalled at the $200 level. Hits 275 though if it breaks free of that.

DC106SHTR asks:

Any thoughts on ORCL?

gsmith4:

Making yet another bid for a new high.

Glubman asks:

How does the chart of NTAP look?

gsmith4:

Strong.

treenetwks asks:

Cramer rec CORL the other day what do you think?

gsmith4:

I like it now. Not two days ago.

nixnux asks:

Have you found your GBS system less effective lately due to the choppiness of the markets?

gsmith4:

Somewhat.

little_buffett asks:

Thoughts on ICGE? And if you want a good swimming school, come west to the Pac-10!

gsmith4:

ICGE needs a strong day to break that congestion. And if my kids get into Stanford, they're going!

techtrader26 asks:

What is your take on NTRO?

gsmith4:

Looked dead until the last two days. Has come alive.

Glubman asks:

EMC?

gsmith4:

Yikes, another breakout.

sweatin_bullets asks:

Do you short stocks that may not strictly meet the GBS criteria but that are below their 50DMA and are weakly attempting to cross it?

gsmith4:

You mean do I cheat on my method. Nope.

bigshooter_82501 asks:

RHAT made a classic cup and handle, what do you think will happen next. Consolidation, correction, more up?

gsmith4:

Impossible to say right here. Depends on how it handles the recent sideways move.

mallenbach asks:

Gary, on a scale 1 to 10, how important would you rank the MACD?

gsmith4:

N/A: I don't use it.

gopman_00 asks:

Have you charted such small caps as ACRU, ARTG, or BRNC? If so, any thoughts?

gsmith4:

ARTG looks tasty!

broadcom_will_be_225_by_y2k asks:

What are the chances of a Canadian graduate getting a job on Wall Street?

gsmith4:

Great as long as they don't start singing Alanis Morrisette songs!

rvich asks:

Thoughts on PCLN?

gsmith4:

Dullsville. It's time has come and gone I'm afraid. Funny, it had the buzz, and now...not.

y2k_Internet asks:

Which way do you think AMZN is going?

gsmith4:

Up

little_buffett asks:

Does the recent mania over stocks in the past decade concern you or do you see it as a good thing?

gsmith4:

Well, it always concerns me, not because of the runup, but because folks have no discipline or method. So, I see it as NOT a good thing, only because it breeds bad habits amongst investors AND traders.

dcraze asks:

Swim update?

gsmith4:

Ah, glad you asked: We have Jr. Olympics coming up. Diana's shot at making a Top 16 time. Should be very interesting....!

little_buffett asks:

Coulter Pharmaceutical is more than 40% shorted right now. Short squeeze brewing or time to bail out? Thanks!

gsmith4:

The stock doesn't look weak or strong. I'd probably be on the sidelines.

bill22_98 asks:

What about MAV? Time to buy or sell?

gsmith4:

time to pass. The stock is stuck in the $3 range!

bigshooter_82501 asks:

What are some of your juiciest charts right now?

gsmith4:

Oh, like I'm going to say!

treenetwks asks:

What's a good balance between trade & investment stocks

gsmith4:

Ouch, that's a wild one. Really, it depends on you time horizon and financial goals. As an example I have no investment stocks right now.

Glubman asks:

What would be a good entry point for PMCS?

gsmith4:

If it breaks 115 or so.

little_buffett asks:

Here's a real exciting one - MDT.

gsmith4:

looks nice after today...

treenetwks asks:

Integrated systems seems ready to move if you follow your method (INTS).

gsmith4:

Congestion isn't long enough, though.

DC106SHTR asks:

Does your style allow you to take a stock at a new high?

gsmith4:

Sure. As long as the other criteria are met.

dickt55057 asks:

intu vs ckfr?

gsmith4:

Toughie. INTU.

s_rogers asks:

I just bought SEBL and ARBA when they hit their trendlines, what do you think?

gsmith4:

I liked SEBL today also. ARBA I'm less enthusiastic about.

fidalgom asks:

Gary, how do you feel about DJT?

gsmith4:

The Motley Fool was right to short it!

little_buffett asks:

Do any of the DSL providers' charts look appealing? (COVD, RTHM, NPNT) Thanks Gary!

gsmith4:

nope.

ashleyiii asks:

Gary, what does TXN look like here?

gsmith4:

TXN looks promising if it can keep up today's move.

barbounia asks:

What about ADBE?

gsmith4:

Nice bounce today off its 50 DMA. Could be a low risk buy.

Glubman asks:

How is the chart of GE?

gsmith4:

Just doesn't have any "pin action" as JJC would say.

little_buffett asks:

Have you ever thought about starting your own hedge fund? I'd buy in!!

gsmith4:

You are kind. Thank you. But, no, never seriously. Not sure I need the money, and sure don't need the hassle!

laura_the_street:

Thanks for joining us today.

gsmith4:

Thank you all. Some really great questions. Thanks for my Yahoo hosts and my TSC host, Laura. Also, to my daughter Diana who helped me type in charts....until she had to go watch The BackStreet Boys on MTV!