Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

market rally. We did say we expected the explosion BY Friday and not next week or earlier this week. Of course we were not 100% sure with the SMH as our "representative" chart, the explosion happened. By Monday it could all be over, even by tomorrow. ...We are COUNTING ON THE EARNINGS SEASON to inject some life in the nasdaq as now we're kind of low to swing short, yet still in a precarious position to buy any dips for more than an INTRADAY BOUNCE and back into cash. Our daily SMH had no "red" areas of pullback as we were at support already (first resistance and target is 40), only on the weekly chart was there a discernible area in case the SMH decided to break down.

We were cautious but by now everyone has made money today including my American Eskimo who chose PETM as her favorite stock play. (right click on the chart below and click on "properties" to see what we named it) ...Either way one of the positions should "explode" by Friday....{see the callout below)