Dylan,
Looks like your short was worth it! However, it was still too risky for me. If the market had reacted more positively to IBM's and MSFT's earnings, then you would have been in trouble. IMHO, you should cover sometime tomorrow. I also think that on Thursday, beofre earnings release, there will be an upward spike in anticipation. While the market initially reacted positively to Intel's earnings, it now puts the pressure on the computer manufacturers. The Intel surprise made street estimates much higher, so that an earnings "surprise" is really less of a surprise.
If GATE reports bad earnings, it may be best to sell. With little news coming out after earnings (except DELL), GATE would probably hold steady or fall in price. If earnings are good, I would still hold.
Just something to look at for everybody, but CUBE is down to 41. It has a fairly low P/E considering it is expected to have 30%+ earnings growth. Personally I believe they have terrific products, and half of it's uses have yet to be discovered.
-Brian |
