Replies to post #22852 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

FNM/XLNX and QLGC 2-trend days QLGC the earlier short the rally, while XLNX had a nice up morning through 11:30. Recommendation folks is to now put up a 20 and 50 day ma on the 5 minute chart. I even put up a 200 for covering shorts. Ironically because FNM backed down so mcuh at the open (puts in play still) the 200 day ma was a good area for a new short (68 area) At no time during the session did FNM break 68 area which was my condition to cover a swing long and put play. FNM is also a terrific short after bear flags at the declining 20 ma. The chart is in a massive decay now having LOST ALL SUPPORT and failing to bounce at ANY OF the retracement areas (potential rally areas at 73, 70 and 68 RETRACEMENT AREAS) that it looks to be in freefall here to 65 or lower.