Replies to post #15162 on Marketgems Earnings Trader- Trading Strong or Weak (MKTGEMS)

[jenna]

Nope I do expect the HIGH PRICED techs to move to lows but I did to take advantage of some earlier bear flags. My second best trading time zone is 1:45 to 2:00 and that is probably where we'll see a confirmation of the 10:15 pullback. Today and much of ght week for me was just INTRADAY gains and I see no chart patterns that would encourage me to expect any real rally in tech pigs. I don't expect high priced techs and/or techs that bite down after earnings to rally to swing trading set ups NEVER at least not until end of June/July earnings season. If I did I wouldn't have stalked ALTR for 3 sessions and quite up on that trade (first a long after hours and from then on SHORT, SHORT SHORT) The volatility tricks novices into buying and holding only to get stopped out so I anticipate already when I enter where my goal is and its never longer than the odd 1 hour or so hold - The Long Term Daytrade

I'm just bullish long term on those few techs/biotechs/pharmies and the occasional bank for a 2-3 month hold. Would I ever stay long MXIM, KLAC, ELX, QCOM, XLNX or ALTR.. NEVER.. They are 'short the rally plays' on the strategy of "the pause that refreshes" for continued pullback. These are trading stocks as is most of the semiconductor sector. Just terrific INTRADAY moves I'm no more bullish on these than I am that RFMD or KLIC will return to double digit prices.

I just find I profit much more after and before the report than holding DURING the report so I intend to stalk QLGC and MXIM quite strongly into the last 90 minutes or so of trading as well as shorting any rally attempt. I do hold some call options which I already locked in some profits but because the afterhours itself is so tenuous I'm not giving credence to any early after hours moves.

THE REAL MOVE USUALLY ASSERTS ITSELF closer to 5:00 and intensifies that move in the following session (QCOM and KLAC were very notable exceptions as QCOM was up 2 points in after hours and lost it all and another two the followig session. KLAC did the reverse)

All this shows me only how volatile and transitory any gains on these pigs and that you MUST lock in what you can get intraday. Progostication is good for the soothsayer, the psychic and the crystal ball reader. The SWING TRADE in technology high profile 'most active nasdaq pigs' for me is DEAD. The swing trade in some select earnings plays that beat the street and went up quite soundly is closest thing I can depend on to "prognostication' and that is alive and well.

[jenna]

MyHunch, what I expected is just what we got. Shorts just covered their profits and were looking to reenter the market for more long plays. Now what happens with MXIM and QLGC tonight only a "genie in a bottle" knows but I am going to be holding some calls through the close and play the 'morrow as I see 'em. I just trade those reversal periods and leave the 'hamina_hamina' plays for the rest of the session.