Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Great rally in nasdaq <g> NQ's took out both the 20 and now fail at the 50 ma. Another good play for the daytrader who took an opportunity for a "a pause that refreshed" from either this morning through 10:15 or from 3:00 on Friday (this is a classic exhaustive move from Friday's late date rally in the 3:00 reversal period) another failure to read any direction into this market except small "spikes" caused by news plays like the FBF and BAC merger. We might capitalize on these moves but I wouldn't read anything more into them than 1 to 2 reversal period rally. FOLKS ARE SHORTING HIGHS AGAIN after taking profits on not even a full day of upside. (just reversal period to reversal period)