MATK well you got your answer for MATK. Expecting a topping at the 50 ma on 5 minute chart. Instructions will be emailed shortly. I can't post 'real-time' answers for our stocks on this thread (I read it only a few times a day) but via emailed updated so I don't always see your questions timely. I followed MATK as late as I could and of course we locked in and bought the gap this morning.
Phase III of our earnings plays strategy (it doesn't always work, OVTI didn't give us an opportunity to play any gap yesterday) is to play the gap (either the gap fill (MATK) or the gap 'n crap (HOV, DHI) and least likely but most fun is the gap up and snap (i.e. MIK, CMVT, MBG, SHFL, DITC etc)
Rule of thumb: Those that have gaps unfilled or gap 'n snap we usually hold for swing longs (i.e. DITC, CMVT, MBG, MIK, SHFL)
Those that gap up and crap, or of course gap down and crap usually make for good swing shorts! The best example of course were the DHI and HOV earnings plays and consequent bottoming and continuing to lows of the sector. We then got the 38% retracement UP, at least until stopped out of KBH on Wednesday.
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