Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

SMH, RIMM and INTC yes on our ONLY LONG list today (even SNDK, OTEX,) as we expected a bottom (whether temporary or not, its still buying some dip after key support was challenged)The beauty is not buying and buying in anticipation of a bottom but getting in AT THE BOTTOM (maybe its like option trading buying in the money instead of out of the money and never getting profits <g> Besides a bunch of earnings plays showing "anticipatory upswing" which we always get, we decided today might be a good day for some buying long momo stocks that have collapsed (RIMM didn't collapse but it was on our short list yesterday and we got the message loud and clear). Getting in on the bottom is like buying designer Manolo Blahnik $500 shoes for $50 a pop! We're just looking for the "pop" today no commitments, no strings to hold for more than an intraday "LONG TERM DAYTRADE RALLY".


....If the Dow holds at 10480 and the nasdaq at 1986 there might be some dip buying which is why we included a potential buy for the SMH and/or INTC and the CSCO, MSFT possibilities on the STOCKS TO WATCH LONG list. At least these are quality techs and not crap (i.e. KLIC, KLAC, ELX, QLGC etc) A possible mini-bottom might be found at 65 in EBAY, we'll see.