Sorry about your CPQ loss! I haven't been in CPQ for ages. The last time I did, it was with puts (short). I had Feb 30 puts, and on the day awhile back that CPQ started surging up, I sold the puts early in the day. I think I did lose some money, but not a whole lot, like $500.
That's what happens when you start playing those options...no money.
That's true, options can be quite lethal on the ol' portfolio. But what I meant was that I am 100% invested in offshore oil drillers: DO, CDG, RIG, FLC, and NE. I bought call options in these stocks Feb. 20th. Most are May expiry, but the DO are March, and the NE are June.
Intels turn in the barrel.
Yeah. Again. Like last Oct 1997. Remember how crummy techs did after that? After a couple of months, many were convinced we were in at least a tech bear market, maybe even an overall bear market. Even the normally bullish Investor's Business Daily was spooked. I recall them running an article which was very grave and full of concern over --- get this --- Dell and Intel, because they had both went below their 200 dma.
We'll see, but I expect a lot of that tech money to flow into the energy sector, which is severely depressed. Last few days have been good though. I bought my RIG calls when the stock was between 40-41, yesterday RIG was at 47, so it's improving.
Maybe I'll be investing in 3Com again eventually, with some oil driller gains! -GG-
'Luck to all,
DK |
