JNPR #1 on our daily newsletter for long set up simply because earnings plays that do well will be bought at dips and are considered buying opportunities. We do not play the market as a whole, but with the sum of its parts. Our after earnings season strategy of 'shorting' the companies that have gapped and crapped or just missed guidance as momentum plays and buying the strong ones after "pauses that refresh" has been utilized rather successfully.
SNDK, AMZN MERQ short list today. SNDK back to 47? We'll stay with the 55 puts and short every upside we can. We had our last move up on February 6 (which we took at 10:00 as posted) but SNDK was on our short list today together with AMZN once again and joins CI, CLX, JCOM, MDT ERES NVLS KLAC as short the rally plays. TIP: ONCE THE EARNINGS REPORT causes a gap 'n big crap, the stock is damaged at least until next quarter (around late March). We expect a rally or two, but they will be shortable. INTC will be like a wild buck trying to tame, but still shortable at rallies. Traders might buy at support but they are very likely to sell at resistance (which is where the shorters come in strongly). We are still in LONG TERM DAYTRADE mode not holding tech longs overnight (no way!) and looking to short rallies. We did hold some positions in the builders and NEM last week and stopped out of NEM just today but these had GOOD REPORTS and/or GREAT GUIDANCE (TOL). The chart in isolation from the earnings, MEANS NADA! ZIP!
After the ADI/DELL report it might get even worse although we are giving NVDA and ADI a wide berth for "anticipatory upswing" and because of the nice surprise with MXIM, we are suspending our disbelief for this next bunch of earnings plays.
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