Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

SINA nice gains on the newest short/put play hits low of the day. We figured yesterday these 'nets need a break so we are in "anticipatory downswing" after days in SINA and weeks in SOHU. (Especially as they tottered after hitting spike highs) Reporting the 3rd, and 2nd, we certainly are NOT riding these down after we rode them up so nicely. We'll change direction when we take our profits and we feel we've reached a bottom/support. Meanwhile SINA is down from a high of 49.50 (easily discernible mini double top and spike high yesterday) to a low today of 46.60 (Like BRCM yesterday who needs to hold through downside?) We might play this the exact same way we played BRCM (we got BRCM going up and going down for days)

1:09 p.m. (intraday update 27 January)

SINA going here. TIME TO TAKE PROFITS IN THE SINA call options.
A short below 48.27 target of 47.50 or lower. FOR OPTIONS PLAYERS.. the FEBRUARY 45 puts are tradable here picked up $1.85

marketgems staff