Replies to post #18945 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

MXIM is still holding on but the fact that it moved down from 48.29 to 47.17 might be an indication of things to come. Ironically the calls we had yesterday were better until 10:00 but they're gone now. What I suggest and I didn't do yet myself, is watch those spike highs and look to short at the next pullback from spike high. Another option is to buy the bounce off the 50 ma, but I don't expect the bounces will be that good from now on.

[jenna]

MXIM triggered short twice already today.. mini double bottom at 47.45 and bullish harami but I don't expect MXIM to retrace past 47.82 or thereabouts. We might have to settle in and just wait for the laws of gravity and "bubble" law to take hold and burst MXIM bubble. I always like to know what the folks who were clicking their heels during yesterday's rally got when they woke up this morning and today! (NTES, COCO, SINA, MSTR....CYD... <g>) You won't get a market up 140 every day so they go back into hibernation I guess until the next triple digit rally.

MXIM was profitable yesterday and still think a downgrade on valuation of something will push this blimpy back to 45. EVERY DAY IS A NEW day and we don't just bask on the profits of yesterday. Currently aggressively shorting MXIM at every opportunity and so far there were 2 although I'm holding it short for the "long term daytrade" and only covering incrementally.