Replies to post #21415 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

HD is our baby for tomorrow.. we posted a lot of charts for HD this afternoon, MRVL, SNPS and other earnings plays (ADSK, EASI also short mode and we won't even consider ADSK or EASI long until the report date gets closer. Its more profitable with the LOW/HD SNPS play. Although MRVL being on today's watch list was "played" even if it reportes Thursday. EASI and ADSK still continuing shorts possibly through the close or at least through the typical SHORT COVERING area of 2:00. Anticipatory Upswing is still far from ADSK (I thought maybe today but it wasn't) and EASI never expected that anyhow just yet to trigger long.

[jenna]

EASI..MRVL, ADSK 60 minute and daily chart..in "short mode" along with ADSK which I did peek out today for some upside as well as MRVL which was charted. February 26 after the close is PLENTY OF TIME for even more downside enjoying the put play or just the short and then preparing a possible earnings run and the call options. There is no reason to pick them up LONG when the TREND IS DOWN in all of these. 48 is important support (like 35 was in HD) but to buy prematurely, then any move up in the next days will be swallowed up in only "breaking even" or worse, still being underwater when "anticipatory upswing" doesn begin. TIMING is Everything. MRVL 40 or 42.50 puts both up nicely (17.85 and 16.66%)already so you want to make money FIRST in the direction of the prevailing trend rather than accumulate losing positions while the correction is still very active. We don't know how long these stocks will correct, but they should be traded in the PREVAILING DIRECTION until they reach further support levels. Upside in the puts might be 30% or more and gains on shorts can be minimum 3 points even up to 4 or more so why not enjoy the TREND?