Earnings Trades Look Too Hot to Handle
A few decent-sized names are reporting after the bell, along with some trader favorites such as Molycorp (MCP) and Nvidia (NVDA), but I am going to sit this one out. This market has become so difficult from day to day, and earnings reactions have become even more extreme.
Looking at the action over this past week, then seeing the moves in names like Green Mountain Coffee Roasters (GMCR) and OPNET Technologies (OPNT), it makes you wonder who would want to hold anything into earnings. Even looking at ATP Oil & Gas (ATPG) from yesterday has me scratching my head a bit. The stock certainly seems overdone to the downside, but these big selloffs are taking days and sometimes weeks to work through. The sellers don't just kill the stock. They kill it and kill it again. No longer do we see dead-cat bounces. Now we see zombie massacres of names that were killed the day before....182 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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