Marketgems Earnings Trader- Trading Strong or Weak Earnings Growth

[jenna]

XLNX is Thursday, MERQ is Wednesday and tonight is LLTC, so trade accordingly. The 'big night' for LLTC is tonight so I do have some short and the 32.50 puts. I will more than likely carry some MERQ and XLNX short for another possibilit to gap down at the open (XLNX didn't gap much in fact it opened got only $0.09 above short entry) But the real test is MERQ wednesday (I will trade the trend, not going to go against the prevailing intraday trend, probably we were a little premature today (reminds me of IBM, let go the 85 calls finally at a small loss before earnings, and the 80 calls and the stock carried the week). XLNX is Thursday (of course all depends on the LLTC tonight and of course some more financials and brokerages will report. Expecting a good report in MER.

We are selectively bullish and bearish and still taking our cues from the earnings plays. Those that survive and thrive, we'll hold (JNPR, CREE, TXN) those that falter will be shorted. Conversative players might wait at least until end of the week 'swing' in semiconductor sector.