Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Gemmers! victory! NKE +$2.50 and TEK +$0.50 looks to shape up like another COGN! heck and with no charts, one monitor and away from the home base. Looks like gap 'n snap potential for TEK like COGN<g>

mailed at 12:p.m. EST

TEK for tonight It should break 32 here and move up after the report. July 30 calls are 2.20 you might get them even cheaper if you "bid" I am not interested in puts at this juncture, a short the rally might be all.


NKE was terrific earnings play for downside last quarter after hanging around too long in the 78 area it finally plunged to 66. It is now at critical resistance of 72.15 (72.49 is the price) which is 50% retracement of the breakdown from 78 to 66. This means NKE might break 75 after its earnings report or retest 70 (looks like another swing play though and potentially longer lasting play once earnings are out)


NKE July 75 calls are only $0.80 July 70 puts are $0.80 and this is not a lot to pay for a straddle in a stock like NKE with a p/e of only 21.9