A Whirlpool Of Value

  • February 5, 2001
  • Eddie Kwong

Sometimes, the truth stares you in the face,
but you’re in denial because you don’t want to face it.

Being a successful trader is all about accepting current reality and flowing
with it.

If you’re position playing with the trends and don’t like to short stocks,
the opportunities are now in value stocks. These are the “boring”
stocks that Gary Kaltbaum referred to this morning.

Take a look at Whirlpool
(
WHR |
Quote |
Chart |
News |
PowerRating), for example.

WHR is in the midst of a two-month uptrend. In early Jan., it found support
its at 38.2% retracement (May 1999 highs – Aug. 1999 lows) and bounced higher —
breaking above its 200-day moving average. Watching a stock like this may not
get your heart pumping the way that the four-letter symbols of the Nasdaq heyday
did. But like I said, for many swing and intermediate-term traders, this is
where the action is for the time being.

Tuesday,

Eddie