Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

NVLS at this point I'm out of XLNX, NVLS and MXIM puts with nice gains, eBAY 90 puts are gone as well as a hefty eBAY short yesterday. Still holding IBM 85 calls for April and some YHOO puts which are likely to go into the trash bin.

NVLS will likely move up a bit with the Sox an SMH. I can see some upside above 27.10 or so but at this point I no longer have a 'swing short/put' position. I don't like NVLS but we still have time for the report. NVLS had 3 1/2 very nice down days culminating in an "exhaustion move down" and we were in puts, now the chart is looking like a bullish hammer and we might get that one day shortable rally here.