Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

AMZN ZQNNK puts long $2.10 trading $10.20 picked up in front of earnings same time we picked up the Straddle in INSP!! p/e 615, but of course p/e's are for nerds not macho traders!

Still holding positions in CCMP, (rolled into March 50 SNDK), NVLS, KLAC puts. Closed second tier puts like ELX, YHOO, AMKR, ERTS, GILD etc but there are still movers like RDWR,LEXR, which took their places. We did say to hold LEXR puts even as it filled some gap. Stocks often fill gaps as traders buy lows to flip a profit but in 90% of cases, the stock continues its way down. Possibly within a week, we'll be picking up March options but until the end of the first week or a bit later, we still recommend the February (in the money and even deep in the money for daytrading) to supplement intraday stock plays. Our option plays are not for the future, there is no way we know where these companies will be "in the future" we look for the EARNINGS earthquake and hold some puts incrementally for AFTERSHOCKS but NEVER buy options 2 or 3 months from the current date. Those that suggest those options themselves will probably not be around to hear any complaints that far out in the future.

Any call options in technology? A few stragglers that are loser which we expected from the earnings plays. In all our targets are getting nearer and we might have even more short plays after the MXIM, TQNT and VECO report. TQNT and VECO look like late stage African Sleeping Sickness victims. If they are going to change trend, it would have to be soon. We are waiting on MXIM and we'll have the 7 bears all ready!

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