Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

SNDK 50 is NOT the short.. folks are buying high and shorting at lows 50 is the STRONG support area for SNDK. If SNDK continues to hold above 50ish it has a chance. The short area would be at the next pattern failure in the 51.50 area but even that might be short lived. REMEMBER: you short rallies in stocks like these (i.e. YHOO, SNDK) you don't buy resistance and short support!!!)Its what is called "bear flags" in downtrends and eventually (let's wait for the AMAT/HPQ reports) we might consider a small option position or 25% of a position long if it closes 80% of intraday high.