Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

More keepers! ONXX, OSIP, IMCL, RIMM TASR (MWD/GS) We got our swing play RIMM which is back above 60 and we were worried at the 53-55 area. 62 would be a coup, and I would be holding the calls into the June 29th report (locking in every few sessions) There is little point in picking up puts this early but about 1-4 (25% puts might be a good hedge) I also picked up some MAGS but with a tight stop remembering how we got out by the skin of our teeth in this baby months ago. (Like those stuck in IPIX from 20 or even 16, trying to bring back the good old days)of the twenties but instead have brought back the pre-adolescence! OSIP, IMCL need a tightish stops (EVEN IN THE CALLS) and I don't even own or need to own the stock itself.

We got our lower targets in TASR (23ish) and although we are obviously not going to get the teens we jumped into TASR mid-Monday and have held tight since already profiting from the 30 calls and heavy from Wednesday into the 35 calls for July.

ONXX was not a performer to upside much (first this was a short) however ONXX has taken out the declining 29 at 42.25 and might be a keeper as well especially if the techs back off today. 24-Jun-04 RBC Capital Mkts Initiated Outperform

Going to possibly stop out of long positions in MWD and GS this morning I imagine.

We have added 2 earnings plays for the next 5-7 sessions so far and will increase that number as the charts confirm any moves.