Replies to post #18805 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

SINA, NTES and SOHU today's EARNINGS NEWSLETTER for a straddle but we did cancel the call side of the straddle simply because these have no sign at all of upside and now are either continuing shorts/puts. PATTERN FAILURES YOU CAN SHORT any of them!

[jenna]

1:00 PM EST Marketgems market Commentary:
After gapping down, the market rallied to levels near yesterday afternoon's trading range, but not being convinced (except for the building sector and a rally in VRTS, we continued to short rallies). The semiconductors are the weakest sector today and our short/put plays are giving extraordinary gains. We do like the financial service sector/building sector, education sector and pharmaceuticals and might have some plays there as well. Still expecting by 2:00 to continue shorting rallies as short covering is setting up what looks like "BULL TRAPS"..in the technology sector. BONA FIDE rallies are those other sectors we mentioned

Marketgems will be posting some new plays for the last heavy night of earnings season by 2:00 in the real-time chat in time for some earnings runs.

[jenna]

SNDK today's earnings trader for intraday recovery now high of the session! All in advance long term daytrade, no rush, no fuss and certainly no scalp. We 8ill be soon primed to buy those earnings plays that did great off this great correction which for THOSE will present buying opportunities. THIS IS A STOCK SELECTOR's market, general market direction analysis is okay but the WHOLE IS NOT EQUAL to the sum of its parts and I like the parts better.

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[jenna]

THE PUT PLAYS on the SEMIs, ERTS and MACR (wow was that huge)

MACR puts cost $0.75 out at $5.10 (yep, 5.10)

KLAC November 55's cost $0.75 to @ $3.80 (still holding 25%)

MERQ November 47.50 cost $1.50 out @ $3.00

CA 22.50 puts were $0.70 out 3/4 @ $1.30

NFLX november 55.00 cost from $4.80 out @ 6

ERTS PUTS cost $0.75 out 2.80 (lost 1.5 point on a call option picked up earlier but total gain on ERTS was 7 points