Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

SNDK.. YHOO you see you buy OFF THE LOWS, and 50 was a good area for support. If you look at our intraday chart (we also follow a 60 minute and daily chart) all other overhead resistance on the 5-minute chart was taken out to upside so we are doing well FOR NOW. SNDK still has a way to go but its now in a doji and if it closes 80% of intraday high, you might chance to hold a small position long overnight. I just don't add bad stock over worse stock and buy the lows and not the highs.

YHOO is also a doji now off the 20 ma. We have begun to be brave and shorted YHOO on Thursday which turned out to be a grea strategy, from the 48 area to a low of 46 almost to the dot, but if it takes out 20 ma 46.86, might be a good area for a beginning long position again. I would and have for subscribers put up an intraday chart showing the potential areas of support/resistance for YHOO, however in front of the NTES report we are not recommending YHOO big positions. You definitely have to BUY these stocks off lows and support levels and not from highs. YHOO was a terrific chart on Thursday for a pullback.