Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Hideously Kinky: Chinese nets setting new lows, MAMA needs help big time, SNDK has gone below 23, KLIC is single digits, SLAB hit target and is flirting with the 47 area now. We already called closings on many of the older puts and we should consider locking in some on Monday for an "aftershock" potential bear rally so we can reshort once again perhaps as soon as Wednesday (for swing puts/short) Considering weakness in biotechs and even retail sector later into the week and next week. We might be able to buy some 'destroyed' momo stocks like MAMA and IPIX for intraday rally before they 'collapse' again as the internals structures that holding up these stocks are tottering like so many matchsticks piled on top of each other.

Unfortunately we did not partake in the massive destruction on IPIX since it didn't trade options but there are others. If we buy anything it will be for the LONG TERM DAYTRADE only locking in at resistance and NOT HOLDING LONGS OVERNIGHT, never averaging down and letting biotechs and pharmies that have hit our targets and pulled back, get stopped out 'naturally' at hard stops.