marketgems agenda full for next week with the electronic retailers (BBY, CC) /electric boutique retailers (SHRP, ELBO)/catalogue-mail order houses (CDWC)etc. We are prepaing the earnings plays getting ready for week of April 5-9 and of course there is already the play in April 7 giant ---> RIMM we have more though. We usually begin the trade about 3 to 5 trading days in advance of the report because of rampant selling the news (COGN we waited for the axe to fall, but it didn't) It did in DISH though as expected.
Bias for DISH was TO THE DOWNSIDE following the DISH report and we got that in spades today.
We also got some 'anticipatory upswing' in front of the report which was expected. DISH was another besides RIMM that was posted for IHUBBERS in advance of the move. DISH was also played for the gap fill in the 11:00 reversal period but ultimately its still a short. We are usually quite unimpressed with gap fills when it follows a rather large gap 'n crap. Its for the most part traders looking to buy back at support and they seldom hold for more than a "dead cat bounce" while the stock continues its swing short direction. With a p/e of 6,702, DISH was the same last quarter.
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