This is especially important because sometime in mid March we expect earnings upside and downside preannouncements so we might get into some new plays in front of the upcoming quarter 1 report period (March/April/May 2004) There is usually a RUN UP on anticipation 1 month prior to the intense reporting period ( which April 20 through April 30, 2004) so we might expect a turn in the Mid March period.
Chart Archives some of our best plays. Our goal is to have traders learn where to enter/exit based on support/resistance charts set out for them IN ADVANCE of the move and not following blindly with no rhyme or reason (i.e. I'm long "xyz" at "$44.50" giving traders no trend direction, no analysis of multiple time frame charts, or basically anything of value for a look at the "big picture" and the trading strategies to use. CHARTS, CHARTS, CHARTS, we read them, we teach our traders to read them, WE POST them and annotate them and and continually update the charts and triggers.
STRATEGIES, STRATEGIES, STRATEGIES, we have specific marketgems methods and teach our traders to READ THEM, recognize them and internalize them. With no charts for traders, no set ups 'in advance' of where they might expect to enter a stock intraday, they will only be waiting to be spoon fed (and that never works)because by the time they get into the so-called scalp, the gain will be gone. Trend reading is of upmost importance. Marketgems trades according to reversal period trading almost exclusively so we have specific times of day where we expect TREND CHANGES. Following the prevailing trend (which has been down for the nasdaq the past 6 weeks) is very important and not trying to trade counter the trend.
January report season SOX as we played the bias to downside. Most semis were down and cut for us quite handsomely, the few undervalued that were actually up ,we had basically by picking up straddles when we are not sure (who is sure? only G-d is sure of the market and can be trusted)
FOR any other techs you might want to 'check out' just type the symbol in the Search: below under "Public Msgs" menu choice and look for its appearance in the Marketgems Earnings Play Trader Thread. Documented and archived calls are kept for years especially for the upcoming quarter its time to analyze the moves in the 3rd and 4th quarter 2003, and prepare the plays for 1st quarter 2004.
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