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Strategies & Market Trends : The Amateur Traders Corner

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To: SunSunM who wrote (11458)7/6/2001 2:04:56 PM
From: Tom Hua  Read Replies (1) of 19633
 
K.C., thanks, could you give me a reminder when we near earnings date? At this time, I'm more focused on going long up till options expiry on July 20th. There're many factors to be considered:

1. Naz 2k has been a very solid support for the past 3 months. And we're just a hair above it.
2. Earnings season starts next week, with "Super Tuesday" week coinciding with option expiration.
3. Technically oversold near term.
4. Some traders/fund managers will return from vacation next week.
and most importantly,
5. Warning season is officially over.

Based on these, I strongly favor the long side over the next 2 maybe 3 weeks.

Regards,

Tom
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