Replies to post #517 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

A new bottom and era for Nasdaq? Wait for earnings to start to trickle out and continue to move the market in the next 3 weeks. We still have overvalued stocks and companies are going be 'letting it all hang out'. Should be a very interesting 3 weeks for both Anticipatory Upswing before the Earnings come out to the inevitable "Sell the Report" after they come out. We are also flexible for the reverse to happen. As we said we are looking for a trend to establish itself this week. If there is a strong weight to the downside we will GO WITH IT and not in the opposite direction, waiting on the slim hope of a rally if there is none on the horizon.

We were never interested in what the analysts had to say and we always looked over our shoulders for signs of deteriorations, overvalution, bubbles that were bursting at their seams.

I had some 'walking wounded' stocks in January which we held 3 to 4 weeks just for the bounce (i.e. ELNT, TLGD, CMRC, PKTR, ADTK, SNDK, GSPN) WE held some TLGD over from the original position after profits were taken and we saw the results of "investing" like good investors should.

I have no desire to be invested in equities but will just be in anything for the 'creme' and when we skimmed off the creme we are gone as before. We still like swing trades but for now the time is not right. Profits are being taken on rally days and we are selling rallies short. Its not easy as we are scraping the bottom of the barrel, but ironically the sharper the bear flag rallies, the better chance we MIGHT have 'beef' on the short side again. But nothing is assured, investors are responsible for their own financial decisions.


Not diehard shorters either, we have no desire to plead a case for the short side. We The fundamental realities were discernible from the price chats.

I won't be looking at market bottoms, at advanced indicators all I will be looking for is: How will the stock market move in response the the many earnings reports in the next few days/weeks. After we see the news, and get an idea of the market direction THEN and ONLY THEN can we use the TECHNICAL CHARTS to lead us in and through the session(s). We should definitely be 'rocking and rolling'..

[Vendit]

Time frame is what is important as far as investment strategy.
TA on a 10 year chart as you know looks very different if you zoom to a 1 minute time frame.

I am a position trader so I tend to pay attention to fairly short time frames. Once I think that I have my target sell or buy in sight I zero in on extremely short time frames so my trade will execute.

I look at my trading positions a day at a time. I never worry about my long term holds.


Reid

[jenna]

CIEN started to move up in an ascend triangle http://www.marketgems.com/CIEN_tugging.gif and that was the area to begin to cover the short. A longer short would have been okay if CIEN had taken out that support level, but it didn't.