Michael, Judy and OJ -- on BAY
Thanks to each of you for the parts that you played in influencing me to take a position in BAY. Judy, you've been telling me about the stock since just before it closed over its 200dma but I was not convinced; Michael your m/f information was instrumental in changing my attitude, and OJ--your exuberance, irrational or not is almost infectious--even to this guy who rarely gets enotional about trades.
Anyway, yesterday, I did add to BAY before the close based on the price action and the fact that the CEO was going to be on CNBC, implying that the news would be positive --- bought the BAY Jan 25 calls. I now have a bunch of the Jan 30 calls that I bought when BAY held over 28 and the ones that I bought yesterday. Will ride with these for a while--and will sell the 35 puts on it when it pulls back to establish a synthetic long position.
A couple of people have mentioned that when several sources of input are in gear--the chances of the trade working out are excellent.
And yes OJ, yesterday I added to my position in IBM on the weakness, as the stock showed signs of turning. If this rally continues, IBM will not be left behind. Bought the Oct 105 calls--I e-mailed Judy about both this trade and the BAY trade -- did not get a chance to post to SI.
BTW, I exited LRCX today at 58 -- bought it 2 days ago for 51 1/4--this one I did post.
Take care |
