Trading earnings is tough… but it also sharpens my skills as a trader.
For example --- In looking for specific one-day-trades it allows, or should I say forces, me to research hundreds of companies beyond the most recent price action.
While many people focus on the big post earnings games, I find that to be a shoulda, woulda, coulda game. I'd rather look at stocks which sold off and now represent buying opportunities.
Here are two names I'm buying this week:
Qualcomm delivered beats on top and bottom line and boosted guidance. Yet the stock initially gapped lower on concerns regarding its licensing deal with ARM. It is still a dominant player on the shift to all things mobile.
The chart suggests a move above $174 will carry it to new highs.
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