Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

EXPE looks ready for a 5-8 point pullback about like the last one. I will look forward for shorting technology rallies as I can't see any catalysts in the earnings arena that would prop up the techs much from here. SMH has topped already on Thursday by 10:00 and rallies are being shorted. We've gone through this cycle for 6 years. Once the major technology stocks have finished reporting the techs usually pull back until the next earnings warnings (late June) when the cycle begins all over again. To anticipate an upcoming rally now is like walking across a frozen lake during the spring thaw and praying you don't fall through the ice after successfully stepping across safely through the last earnings season. There will be some ups and some downs but beyond trend and reversal period trading i wouldn't hazard a swing here.