Replies to post #5493 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[blue13326]

COH new 52 wk. high today.

[jenna]

Bulls, Bears and now SHEEP. "Feelings of "been there, done that" effect now in market.

Looks like there was no excitement but rather a blase attitude in after hours. What is bad for investors is great for traders. The enormous triple digit rallies, and probably triple digit pullbacks give us lots of $$$$ in the pockets. Just don't get too serious about the long or short side in nasdaq. Don't be a sheep though to be led to slaughter by ANYONE. Investors should not buy into 3 day rallies and expect a pot 'o gold at the end of the rainbow. Folks, this is the 'pot 'o gold', there will be no reward given for patience if you are out of the market now. Intraday trading ranges are very wide and EARNINGS PLAYS are proving once again they can hold STRONGER than other stocks on the long side. On the short side, its the typical 'blimps' that will be the first to buckle.

BRCD still doesn't impress here. INTU has been up quite a bit in Anticipation already (2 days of upside for us) and a move in after hours to 44 but there seems to be a "yawning" effect in this market now. IBM with its almost embarrassing attempt to force a rally, BRCD's "timing" yesterday will be enough to get everyone out of BRCD tomorrow and the gates will probably be let down again. The "waiting for upside" attitude should be replaced for a "go in the direction of the trend" and be completely neutral going forward.

There is a feeling of "been there, done that" in this market and that is TERRIFIC for traders, awful for investors, fund managers and sundry companies who think they will still make money by manipulating investors. We are not expecting anything special and after a 2 3/4 day rally are ready for some forays into the short area once again.

[jenna]

"Sink or Swim" CHB,CERN,DRTE,IONA,JDAS

CHB
Part of the mobile/manufactured home sector. CHB enjoyed a volume/price breakout. WGO, THO COA are leaders and already near highs, but CHB is looking 'ready' and 'mobilized (pun intended) for more upside here if it can take out the 9.35 area and head towards 9.75 and higher highs.

JDAS looks to take out the 50 day moving average to the upside (29.22) and could move up from there. A failure at this area might be a short play.

DRTE
great sector and has resistance at 14 as you can see on the daily chart. A move above 13.75 can be a prelude to a move above 14 and continued upside. Part of the Computer Software (MEDICAL) sector where CERN is the leader.

IONA
Looking here at its declining 50 day moving average (14.40). And a move above 14.20 might be an indication of further upside. If IONA fails at this area, it will be a pattern failure and perhaps overbought here and ready for a 'short term shorty short'.


CERN
A favorite earnings play and leader of the Computer software/medical group sector. CERN reversed a huge 2 day gain today when it closed in a bearish harami. I would wait for the 10:15 as CERN might have an 'exhaustive move down'. If market internals are weak we might short CERN below 54.78 or at 9:50 whichever comes first. Look for a possible recovery at the rising 50 period moving average (10:30)on the 5 or 15 minute chart.

The important point to note here is that this might just be a 'pause that refreshes' and CERN could recover after some early morning weakness.