Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Another short the rally day. CSCO breaking, OSIP breaking Expecting pullbacks in biotechnology (esp. OSIP and GNTA) among others TASR as well although we no longer keep big positions in straddles as they are getting a little expensive. TASR puts closed this morning. A call option play closed as well as TASR now considered just a trading stock (like IPIX, MAGS, MAMA and we know where they ended up!)

(earnings plays for the week) Morning plays hung on nicely through 11:00 or 11:30 which is when some stopped out and only new trades were some reshorting technology (i.e. CSCO) If traders can NOT be done by 11:00 to 11;30 they are doing something very wrong. Watching for some 2:00 - 2:30 later in the session rallies for a few earnings plays reporting tomorrow and Wednesday but besides that, trading was finished 2 hours ago. (stops hit and another day gains of a very short lived tech rally) not even enough upside to stop out chinese net shorts (huge gains NTES stop is at 44) NTES good for 8-10 points on shorts side and along with SINA/SOHU hundreds of percentage points gains on the puts, locking in was an option in some other longer running plays like puts in MCHP, SLAB, KLAC SNDK, LEXR and KLIC but not the chinese nets, still have downside targets to be met