Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Straddles: TASR, NVLS, SNDK, QCOM (calls) DNA (calls) RIMM (3 calls positions one put) Puts in play (SNDK, NVLS) in case we get another "QLGC news report next week" IBM calls others in biotech sector and earnings plays still 'in play' (about 3) on long side. We are waiting for the resolution of FDA questions. YHOO is only one we haven't straddled yet, we're waiting for the most apropro time. NO SCALPS ever, we leave the scalping for the 3 dozen or so trading forums that trade the news intraday, in and out without any real knowledge of support/resistance etc. Gemmers focus on a few plays and milk them for all they are worth. A scalp is another word for ("I don't know the direction but I'll try it here over and over and over again until I get it right even if the stock is in a trend down day(s)"). No huge positions we have an eye to capital preservation and risk tolerance. Traders have lost tons of money timing upside for the last 9 weeks, and we've been short until March 24. Losing money is something we don't like to do, so we trade incrementally, not averaging down on losers. We leave that for the gamblers who bet too much on a gain after averaging down for months on losers. Trading is NOT GAMBLING, we are not in any position that will make or break us.