Glu Mobile ( NASDAQ:GLUU ) is set to report earnings Thursday after the market
close. I played it last week for over $1,000 profit on the long side. Im short
biased this week due to all the resistance around $3.10 to $3.20. With futures
down this morning Ill be looking to make a day trade or two this week and go
long if they rock earnings Thursday. Ideal entry for me going short is $3.18
with cover goals around $2.88, $2.71 and $2.66. Friday will be interesting for
GLUU because if they can beat the Street I think well see a break of $3.50
resistance sending GLUU into a new trading range. I like this company and think
their long term outlook is worth watching closely. Ill be looking to trade GLUU
again Thursday in the post market or Friday once I read their report. Local.com
( NASDAQ:LOCM ) is set to report earnings Wednesday. Shares are up about over
50% from the recent low of $1.99 and the Relative Strength Index is starting to
get close to overbought. I traded LOCM recently from $2.25 to $2.70 for a nice
20% profit and just missed picking up the $2.40 consolidation. At this point Im
watching to see if shares hold the $3.00 range into earnings. There is already
some improved guidance out there so if they wow the Street we could see shares
pop back into the $4 range. I dont swing trade through earnings so Ill be
watching for their report Wednesday and trade it according. If they miss, then
Ill be short biased down to the $2.50 range which shows support from the 50 and
20 Moving Averages. Coffee Holding Co. ( NASDAQ:JVA ) has pulled back off its
most recent run from around $7 to $15 settling around $10 before making the
turn. With support at $10.61 Ill eye up entry and if I find one I like, Ill look
to play it long between the 200 Moving Average an the 50 Moving Average or
$10.61 to $13.64 respectively. A break of $14.73 $15.00 would signal a bullish
move up to the $18.00 $20.00 range. A drop below $9.55 and JVA will be moved to
my short list because thats the recent low. Yahoo Inc. ( NASDAQ:YHOO ) is
pulling back this morning as expected with Nasdaq futures pointing lower.
Surrounded by buyout speculation still Ill be looking to swing YHOO around
$15.50 if it dips that far and depending on the market I might actually wait for
$15.00. Last weeks double cross of the 20 and 200 Moving Average is considered a
bullish sign but shares are getting close to overbought with a 63 reading on the
Relative Strength Index. It is important to note, however, shares can remain
overbought so long as accumulation continues to rise and with all the buyout
speculation, that will likely be the case as big short sellers will be cautious
ahead of any major annoucement. NVIDIA Corp. ( NASDAQ:NVDA ) is set to report
earnings next Thursday. With the holiday season right around the corner Ill be
looking to trade NVDA long into earnings as bulls speculate on the future
outlook. My target entry is technically based at the 20 and 50 Moving Averages
of $14.54 and $14.03 respectively with a goal of a breakout above $16.10 before
earnings.
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