SEAC (close to target 18.50) another 'hit' in our "Earnings Plays Gone Wild" series. while techs pull back (KLIC a neat daytrade, nothing more) Totally predictable except now the support resistance changed a bit. SEAC much more "earnings momentum" behind it. SEAC is in the second day of "Upside Earnings RUN"
You will note in the chart we DO NOT BUY THE DIP, but look for the (COT - Change of Trend and confirmation) like we did with SMH. Buying the dip in SEAC (a favorite, though) would ahve resulted in being underwater from the 20 area to roughly 16.35 (decidedly uncool) simlar to KLIC which was shorted in the 17.20 area and bought back at the lows instead of averaging down after EPS. SEAC will likely have more upside momentum (at least less pullbacks intraday) and was picked up the same reason KLIC was, a buy after a big drop at the first (COT change of trend) which was confirmed.
Don't BUY THE DIP buy the COT (change of trend) that is the basic tenet of succesful technical analysis. Buying the dips lead to more "scalps" simply because you have to duck the landmines constantly buying against the prevailing trend. Buying rather the "change of trend" leads to either the LONG TERM DAYTRADE (holding through many reversal time periods) and even swing plays. I never scalp or encourage our traders to scalp, we like to hold long or short for quite a while.
SMH.. first time long overnight (with INTC) same strategy, the buy at the support (ours was figured at 40) not buying from 44 and averaging down until 41 (we actually had some puts). Now we don't need puts/calls just the index itself it includes the main sox anyhow and INTC we called a 'tentative' bottom yesterday and although it did pull back in the morning, its doing relatively good, but far from great like our earnings runs which are massively stronger every one.
MRVL #2 (MRVL as opposed to MVL) in anticipatory upswing continuing while major techs with no earnings catalyst pulling back (INTC,KLIC, NVLS can't cut it after the 1:00 period)(KLIC again from 12:00 yesterday and today pulls back) uncanny ability to move up through 12 or 12:30 and falter making it a very iffy swing play but an excellent intraday (while you're in the waiting room waiting for the big ones play <g>)
Market Data 
Markets 
AI
