Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Towards 3:00 We have a number of straddles some of which might move up, but today is the end of the BIG 2 weeks intense earnings season and the trek is going to be a heck of lot LIGHTER FROM here, so I'd like us to go out with a bang. Covering more shorts, the NVLS short hit an interim target of 32 and covering 50 to 75% (50% now and another 25% by 3:45) still holding puts. This was a move from 44.50 (I'd say we got quite a little profit there) SNDK, CCMP ELX and the others, have been down so much although our target of ELX and 25 is still a little farther out so I do suggest holding at least 25% of those ELX puts for day #3. I feel we are going to be selling rallies however, if you are not comfortable if the market moves up for the first 30 minutes, by all means take the profits and reshort and the next spike high. I find myself exceedingly comfortable holding a short through minor upside.