Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

2:00 marketgems market commentary. S&P futures are bouncing off support here. Perfect bounce off the 50% retracement area, the SMH needed a further "pause" and they are bouncing only off the 62% retracement allowing for an easy 2-trend day still not looking to go long semis ntil 37 is wholly taken out to upside. We pick up QLGC off support first 49 and now looks like 49 again with a tight stop at 48.60 risking only $0.40. QLGC is also a very good short at resistance (42.40 area) The doji for QLGC proved to be a precursor to a further loss of support at the 20 day moving average. next major support is 47.50. Playing just bounces, as QLGC is now a PUT PLAY.