Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

RIMM/PALM to watch tomorrow. RIMM did soar after last earnings report and it was expected that it would exceed estimates. RIMM trading today was lackluster and their was no SOLID justification for entering a long position through the report. IF we get some upgrades in the morning, we might see a gap 'n snap. I'm less than exuberant here but will keep an open mind.

Some of you might remember RIMM at 160 nearly 3 years ago and how tht Israeli company was like the "Little Engine That COULD". Well we'll see. We have to be careful not to buy into a move like there was in PALM this morning. I would rather short a spike high or pick it up after a climactic sell off (long lower shadow on volume spike) than chance buying into a "sucker rally" in the morning.