Earnings Season

Posted by downtowntrader | 7/22/2008 09:47:00 PM | 0 comments »

I pore through hundreds of charts every night as part of my "homework" routine in order to scan the markets for trading candidates. I then typically pick one for my blog post. The last thing I do is check for earnings and upcoming events, because as a short term swing trader, I avoid earnings like the plague. I had four charts that looked pretty interesting tonight, but low and behold, they ALL report earnings in the next day or two. I don't want to mislead someone into buying a stock that reports earnings in two days, so I won't post the charts. I'll name the stocks for anyone that wants to go back and review the charts themselves though. I liked NETL, FFIV, NVEC and BMC as long plays. Funny enough, they are all tech issues. While some big tech names have been sold after earnings, the buyout of FDRY today could help other network plays like NETL, FFIV and even RVBD or BCSI. It should be interesting to see if the "sell earnings" theme continues.

Good Trading,