Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

OSUR, ASKJ and TKTX perfect bull traps as eager traders think they can join the absurd moves up. Of course its a good idea to watch them after they've corrected but we have another one we are watching here that looks like its on its way back up. Point is to find a reasonable amount of stocks to watch (7-10) and not scores of news plays with no plan as to set up entry, how to play the stock, etc. Regurgitated plays don't help the trader. Very nice long term daytrades you don't need to scalp plays like these, in fact we don't need to scalp anything as all the plays we suggested to hold today gapped up and snapped (these 3 were not among them!)

For April/May run ups its enough to hold a few strategic longs, some straddles closer to earnings and some Gap 'n crap set ups for after the report. With rallies like these the scalp is dead (it was dead for us already since January 2004)