Not an easy day, but as I said, I did not holding anything over the weekend. TIP: in the morning check the U.S. Index Percent Gainers, so you get a quick look at the sectors that are hot (i.e. Semis,cyclical, forest/paper etc.), once you have them just look on the watch list or for the leaders from which to make your trading choices.
I am into puts in YHOO, EBAY and CMGI. I thought CMGI had more downside and with other added news on shortfalls I decided to go 'short'(puts). Holding JBL, ADBE, TXCC (ex or current earnings plays) long and probably not longer than overnight for all of the above. Its a gorgeous day and weekend and although the '10 pound' special cell phone is working fine, the laptop/Palm Pilot is sporadic. Things should be back to normal on Wednesday and there will most likely be a shortened watch list this evening as well as tomorrow.
CAMP, PLCE,ITN, FWRD, FRNT.. past earnings plays are complex, definitely underutilized as investing tools. You don't need to latch onto many of them, a few will do. They can and have gone up 400% and more. But paradoxically the worst time might actually be a day or two AFTER earnings when those 'in the know' are already taking profits and getting ready for the next round. More 'known' candidates MACR, INTU, ADBE, EFII, ADRX, AEOS, JBL, SLR, CMVT, TXCC come back for more and more and yet you might not want to hold these more than a swing (2-5 days) or short term trade (up to 6 weeks). AEOS was a difficult hold finally breaking resistance at 41 and now its a solid 45 1/4.. Some offer good opportunities for months like ZQK and TAGS only to
have extreme volatility after 3-9 months of uptrends. But whatever they are they are not 'static'.
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