Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

UNTD.. I might look into that as well tomorrow. I find that the intraday stops ARE MUCH easier than the swing trade earnings play stops. I usually end up leaving about 5 to 7% on the table on the swing plays like OTEX, NWRE, NSM, MATK, etc. For the intraday I have much less trouble. I actually traded UNTD while WAITING for more action on some earnings plays. UNTD is a strong and favorite 'net stock. I have some alerts set up on some of my 90% technical rank stocks that are pulling back off 52 week highs. My favorite area for bounce is the 20 ma. I had an audible alert for UNTD go off at 37 but I didn't manage to get filled until 37.25. Using my 3-minute charts (also had 5 minute up) I just held because I saw many bullish wide range candlesticks bars that already BROKE RESISTANCE on the 200 period ma, and then came that SPIKE high on the 3 minute chart at 38.25 which is MY USUAL area of profit taking especially in a day when the market was VERY DOWN. I ONLY TRADE LIKE THIS MAYBE 2 or 3 times a week. Much of the time I hold longer but I was bored since I was already in positions for downside. Many of my daytrader friends would have shorted there (and do so rather successfully), but I was alone and not in the mood for such an intense session.



THe first bearish Harami was quite enough (38.25 was high) but I didn't get out until 38.09. cause I figured after such a strong price move, theis is the best price UNTD might have today. Sold most of it there and set my stop back below the fourth bar after the spike high( the COT BAR, since the market was too iffy to put the stop any lower. I thought it would bounce again but I was wrong. Might look at it tomorow at 37ish again I don't expect it will gap down but if it does I'll be waiting to buy it OFF THE 20 PERIOD MOVING AVERAGE on 5 minute chart this time (longer term daytrade timeframe) instead of the 3-minute (scalp time frame).