Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

KLAC, INTC and YHOO down after hours. Swing shorts and hopefully for more than a move through 10:00 exhaustion. NTES trying here but we'll know more in the morning (probably a short the rally) As we said we were long since March 24 (of course none of these) but if you blinked, you missed the swing rally. GE had a very good morning gain and eased out of it and AMR after swing plays. We are NOT done with GE however, but getting ready for phase 2. Taking profits is an important part of the picture, we DO NOT BUY and hold and earnings plays through the report throwing caution to the wind, but rather lock in profits until the rest just trail off at hard stops.

It would be rather ludicrous to declare longs this ahead of earnings especially in companies reporting from 12-16 April and declare SHORT or LONG, we rather trail up stops and for much of them (INTC, YHOO, IBM, etc) we will definitely be straddling or strangling the move through the report. PROGNOSTICATIONS are only that we do intend for every day until earnings to have at least a hedge in puts and/or calls. We did expect an announcement of a RIMM/TASR split and or even more contracts and for that reason we decided to always have call positions on the long side (and we still do)