Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

Semis look like a short the rally play as I see the SMH failing at the declining 20 period moving average. Not interested in these except to lock in profits on short side. For a scalp rally in SMH look for a move above 24.60 and I wouldn't expect anything but a kick down by 25 (15 minute chart, 50 period ma) Remember folks we got real earnings coming in next week and we should be lightly exposed until the first results of the likes of NVLS and XLNX come in.