Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

SNPS.. Covered @ 66.76, always manage to miss the lows, but added more short @67.65, declning 50 ma on 5-minute (didn't take the upside) and i'm looking for a potential gap down on Monday morning. Also added more OVTI a little late just under 42 to yesterday's short and will look for another move to 39+. All with trailing stops.

Holding about (1/3 to 1/2) shorts over weekend in LEH, BAC, SNPS OVTI (not MCHP that I'll cover into close) maybe DELL later on into the close i'll cover as well. No longs now. Never looked beyond the Earnings Play Trader this week except of course for those I posted on thread well in advance like TIVO.

TIP: If you hold anything short, pick from those stocks that were weak or consolidating prior to today's morning run up (OVTI, SNPS etc that were down strongly after earnings) or sectors like banking, brokerages (maybe also building) rather than the "hot" stocks like QLGC, NVLS, SNDK which are high profile daytrades and could be bought at dips Monday morning. You want to have different trades so every mm isn't 5 steps ahead of you (for fake outs etc)

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