UPDATE: JBL hitting highs of the session while SANM is in a consolidateion after a continuation of yesterday's rally. JBL was early on in "buy" mode and is still breaking out of consolidations. I would look for a possible spike and drop from the 19.60 area but this is just perfect. When they move up so much before the report we might get a 2 run homer here.
If you look at the CLS and FLEX chart you do see breakdowns and fissures.
THE CAVEAT: We grab any anticipation 1 to 2 weeks prior to the report (brokerages) and lesson our exposure and positions 1-2 days before the report (trading only INTRADAY and coming out flat into the close) WE DO NOT HOLD THROUGH THE REPORT! We must always be one step ahead of these earnings plays. The HERD EFFECT is not what we want. We realize traders are chasing the earnings report and "trying" this and "trying" that. By the time earnings are released, positions are either very slim or we are totally flat.
JBL daily/intraday chart is still excellent and were it not for the earnings looming on Thursday, this might have moved up to retest the 22 area. Next resistance for JBL is 20. Play this as much as you want to in anticipation. We still have a few days left. Its not mandatory, of course, to short but I would limit exhiliration and be FLAT JBL for the actual report.
FLEX is showing 'strain" and is back in a very small trading range with the second in a row "spinning top" formation. This indicates a potential breakdown below 9 possibly after the JBL report.
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