Replies to post #21965 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

SHRP unreal. We expected this move (well not exactly) but we had SHRP two days of "anticipatory upswing" April calls picked up first then some puts late yesterday, and nice gap up open and now the puts won't expire worthless either. Earnings were excellent but we figured it would do a "BBBY-like" move from yesterday. BBBY Upgraded and fell into our short/put trap yesterday

[jenna]

LEN new position 52.50 puts (after profit taking in the 55 puts, after being down 2 in the morning after the LEN report (buy stop night of the report, bad idea), reversed the trend to down for LEN) LEN going against the trend, didn't put in a stop but did in the GS puts (never hit). Both headed down and able to exit GS puts without any residual effects of the GOOD AGE report. Luck here really (25% of the position of options can sometimes get whacked but today in an up market neither the remainder LEN 52.50 puts nor the GS puts got whacked)

We did NOT call a short in KLAC today or yesterday (we did call at short trigger at 50 yesterday but it had moved to 50.80 and never got close to the trigger yesterday) until that area and we might consider one eventually, but its best to trade with the trend and although we DO NOT LIKE KLAC long we certainly do like the SMH, MSFT, NSM long at least for that long term daytrade so far) MSFT 22.50 calls were called last night.