Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

QLGC, QCOM, EBAY down after hours, only CSCO (picked up the calls in CSCO and holding a straddle in QCOM) is up and i don't know how long that will last. Its important not to fall into the bull trap of thinking because economic news is "good" we are flying up from here. At this point I am in the "short the rally" mode and waiting for what might be just "the pause that refreshes" (for NSM for example). We need to make money daily and not just "the market is flying" catch the flight. A trader makes money DAILY and not only when the market is up 140!