Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Swing plays from Friday First QCOM then SNDK upside saturated but we'll consider a reentry (at the LOWS) CECO already stopped out yesterday with MGAM after a massive gain and still like GE, AMR and NTAP. NTES and SOHU over this morning although a nice gain in the SOHU 25 calls. GS was strong through yesterday at a mini triple top at 105. (sold these on Friday though too good a gain) If you wait to hold overnight you will be stuck in the pullback. Last week we took the plunge in overnight LONGS and it paid off however they were across sectors and DIVERSIFIED. Semiconductors were okay through yesterday spike high but we called them short today as well as yesterday (KLAC #1 short for two days running) We did NOT LIKE the way the SMH sector performed versus the other indices for the past 3 sessions now. If you blinked you miss the tiny semiconductor rally which we actually got from 25th through yesterday's spike highs by 10:00 however other sectors were stronger.


end of session sum ups Friday:

Fri Mar 26 15:07:24 2004: jenna - pretty satisfied on the follow through today.. as I suggested in the last email we would be wise to be long ACROSS sectors and not wholly piled into technology
Fri Mar 26 15:07:37 2004: jenna - the techs I like (i'm sure there are more) are still SNDK and NTAP
Fri Mar 26 15:08:11 2004: jenna - the others are ----> GS 100 calls, GE, AMR (you might have to expect a pullback but 3 week target is about 14) CECO, MGAM COGN..
ri Mar 26 15:12:18 2004: jenna - SOHU April 25 calls UZKDE look good here @ 1.20 UZKDE
Fri Mar 26 15:12:25 2004: jenna - SOHU itself looks good also
Fri Mar 26 15:12:35 2004: jenna - with a buy stop 24.50
Fri Mar 26 15:12:40 2004: jenna - stop @ 24 RIMM possibly the calls 95 or RIMM the stock with the 90 puts - If QCOM doesn't to better we might end up hedging our 65 calls with some puts or short the stock

Fri Mar 26 15:21:24 2004: jenna - NSM looks good here as well again
Fri Mar 26 15:21:42 2004: jenna - why go for garbage? when everyone likes NSM and its dow leader?
Fri Mar 26 15:52:02 2004: jenna - I still like MGAM and CECO but you can easily put in abuy stop above prior day's high or close to reenter.
Fri Mar 26 15:53:14 2004: jenna - SOHU if you didn't get in don't.. we can wait if you did (the calls) if you picked up the calls it doesn't look bad. or good neutral.
Fri Mar 26 15:53:46 2004: jenna - of course I got my bid guess they figured it would move down but now we will be chasing the Chinese nets next week..

NFLX puts saved us getting hit with the stock and why we'll never hold this kind of company long or short. NFLX was a really nice short much of the month, but this morning it was over!

Fri Mar 26 15:41:22 2004: jenna - NFLX.. still has a 324 p/e
Fri Mar 26 15:41:46 2004: jenna - I would hold puts. we're talking maybe 15 to 20 at the most.