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jenna

02/05/04 12:17 PM

#21100 RE: jenna #21099

The jokes called KLAC, INTC, NVLS, CCMP, AVNX, JCOM continue to hit lower lows with the best play being JCOM (better than AMZN which we did close) RDWR's reversal today also killed the play from 30 to a low of 22.84 (just puts here). RDWR looks like a potential short the rally but meanwhile holding puts in RDWR after this much downside is not a good idea. General Market directional analysis has no value for us as we are still bearish on semiconductor sector but bullish on 'sector rotation' today and yesterday being the retailers, undervalued earnings plays (i.e. AKAM) and maybe builders if the upside continues through the TOL announcement. Intraday market internals and of course general resistance/support on the compx, sox, indu, S&P futures are important. WE don't prognosticate into the future, as that has as much validity as last week's newspaper. A trader should constantly be aware of which sector comes into favor, what earnings reports are on the agenda (days in advance), any guidance or mid-quarter conference calls on key stocks will be announced, etc. That is what ultimately counts.




We also have SNDK puts for March and only SNDK is actually played intraday because of the 2-trend moves. The others are just "checked on" to make sure they are still breathing and the respirator hasn't been disconnected. We usually send out intraday charts for playing SNDK, we didn't today but we did yesterday, today we had too many others.