RIMM 10 point drop 2 sessions! SMH at the bottom channel of BB and closed BELOW yesterday's close with a much wider range bar (almost a bearish engulfing) SMH definitely lagging behind the earnings play if we can put up a comparison indicator, it would be about 30% since January of outperforming the SMH. Semis are still short the rally and we are shorting rallies but also occasionally buying off support as long as we have clear intraday charts. More earnings plays coming up and not necessarily in semis or techs but through all market sectors. Its going to be more difficult but more profitable and worth the 'research' to find the next double digit gainers and triple digit option play. We won't be confining our plays to the 'most active list' from yesterday or chasing the one from today.
One entry short RIMM as it tanked after a 2 minute window, one short entry NFLX and basically all trades were long term daytrades with the most a round trip. Trends lasted quite a while and triggers in RHAT, MU and others were careful to capture the beef of the gain.. ONE ENTRY, ONE EXIT and that's it. Same as yesterday with early entry on NVEC and then a short called and that was still "in play" through today and in essence is still a short (25% of position) until the next breakout or breakdown.
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