Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

BOth ELON and BBOX upside was supported not in your life by a chart pattern but by a very CLEAR GOOD earnings report. That was the only catalyst for upside. When everyone sees a good report, its clear, the stock goes up. We don't need technical analysis, chart patterns, (you might as well liken it to sewing according to a a butterick pattern and have a good laugh how the same butterick pattern will end up with quite a different garment of clothing depending on what "sewing strategy" you used. You might as well sew your own stock chart patterns).. Buy a jigsaw puzzle 1,000 pieces for MSFT or What is clear to everyone are the results of a good report.....period. Nothing more and nothing less.

ELON one of our hope floats stocks pushed up BBOX as well. So how folks, do you explain the supposed "reversal" from yesterday's chart pattern in KBH, LEN or HOV???? Because we are still in process of a deep sell off and earnings are over and done with and a new problem is arising.

There is more skittishness of a possible 'bursting bubble". I would almost think technical analysis is about as accurate now as Miss Cleo's Psychic chart reading. They do have an appeal, how else would you know when to short a rally or where to expect the 'novices' to buy and you to sell.

Truthfully, I'm spending more time on other sectors and not technology, but since technology is now reporting, its a small chance to get some of the "hope floats" badly beaten down stocks for some gains. The problem is however, how far "delinquent" are these stocks and what exactly are you rescuing? A habitual offender? Are you providing a good home to someone that will "steal you blind" after a hot meal and warm bed is offered to him/her? That's really how I see this entire market.. As an accident waiting to happen, SHORT and be very skeptical until proven otherwise. So you lose a little profit in a QLGC one day rally, big deal. Look at the EXPE, ROOM and the half dozen other "dogs" out there. That's why if you do decide to play a tech stock on the long side, keep the position small and make sure you have a stock with HIGH VOLUME, HIGH LIQUIDITY and options that have at least 100 volume (the more volume the better)..