Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

MATK 62.30 -> 54!! downside escalating congratulations Gemmers! With proper downgrade, a 'sleeper' which we called it like BCSI will be among the most down list tomorrow and be cut below 50 at least. MATK triggered short early and never let up! Puts were called as well into the close as "MUST HAVE" Just one short from the trigger. 20 ma foiled any attempts at recover with pattern failures throughout the session. We would have had the same with OVTI but OVTI preempted our puts (although some did in fact pick them up yesterday after the lock in call)


1:30 update:
MATK, RIMM, AHC TK continuing shorts

MATK (this is the one I like) June 60 puts doing great already up 63% with a $0.15 spread between bid and ask we should hold some of them through the report. Waited for June 65 to get cheaper and we should pick these up today at around $0.60 or whatever. YOU NEVER KNOW IF MATK WILL SUDDENLY HAVE SOME UPGRADE.

TOM unfortunately the puts were practically nonexistent in TOM yesterday.

RIMM still trading intraday shorting rallies in RIMM, KBH and oils (AHC) but careful here. 56 is important area for RIMM, if RIMM takes out 56 might be a cover for now the bearish engulfing didn't persuade a cover yet just some locking in, if 56.10 breaks to downside might move RIMM towards 55.

TK and AHC need to come down so TK July 32.50 puts at $0.45 might be a good "investment" in a pullback. Already long July 65 puts AHC but might add here as well (June 70 puts are even better for AHC for intraday trading but the $0.15 spread I thought i could do without spread was only $0.05 in the July 65 puts.

RIMM June 57.50 puts intraday if you prefer but for a potential swing hold the June 52.50 puts RUPRX are only $.70. All will hold if RIMM does not take out 56-56.25 to upside (the 20 ma on 5 minute chart) aggressively shorting while we can intraday, through the close so far haven't taken one short share.

AHC looks to break support. Keep stops tight but I would love to get on a break down in the shipping and oil and gas sectors like we got on the builders, we start slowly though.

12:07 intraday update

OVTI slaughtered. ALERT AHC rising here bottomed 69.12 might be buyable if it takes out 70, but I don't think it will.

TASR if you got the morning long you know what to do. At this point we sell the spike high when we see something like this. I do suggest a very small option position LONG be picked up for a straddle again June 27.50 only about 1.10 for a possible move up tomorrow. But of course those July 25 puts will move now.

OVTI and that is the reason we lock into profits! Unfortunately officially we DID not call any option puts yet, we thought they would be time. Shareholders got hit between the eyes and law suits no doubt will be on the way.

RIMM moving lower.

MATK looking great.

ONXX a short play.

SYMC a good short below 45.82 or 45.75 (posted was 46).

OSIP watch this area below 70.75 possible short or 71.25 as a long with stops about $0.50.

CDWC in the doghouse here should drop below 69 probably at the 69.40 declining 20 ma.

SNPS update etc. 3:00 p.m.

SNPS.. 30.50 short triggered and looks to hit 29 here maybe tomorrow or later in the session 29.50 is support 29 is next support. Might even go lower to the 28.17 area . You must keep those charts instead of looking for newer and newer plays and momo chasing.

http://www.marketgems.com/SNPSpullback8.png

AHC SNPS RIMM MATK updates -

SNPS good pullback looks to recover even if the recovery doesn't last SNPS needed that pause below 30.50 short trigger to regain some strength. I wouldn't necessarily be long as there is a short covering .

RIMM I don't trust as far as I can throw it. Look for pattern failures at the 56 area (20 ma) although it will be rocky and the 3 long lower tails on the 5 minut charts near 55.37 do show that daytrading shorts are covering partial positions but not all.

REMINDER: MATK is an earnings play and even this one might have some sort of earnings run here 60 is a good area to put in a stop at 60.70 and consider covering incrementally. YOU MUST have a stop in case MATK does its earnings run (although I don't expect it for an hour at least).