Eddie, I'm with you and Pete on this one, or should I say my money is with you <g> Went for the 47.5's, which began the day ITM, went OTM, and somehow finished ITM. Amazing how those guys work.
Bull traps are tailor made for bear fences. Unfortunately, my account's not set up to write 'em yet, but I'd have to assume that somewhere out there somebody had to have had a similar read and set up a bear fence.
I'm counting on it to finish at exp. below this morning's low.
TXN reports BTB tomorrow and MU will probably react to it (obviously INTC as well, for different reasons). As much as I like TXN overall, I just can't see how the DRAM part of its business is going gangbusters. Year-year, very easy comparison, but I'm guessing that when the tea leaves are read, they'll be less to be happy about on a sequential basis. But they have a great portfolio of other products making up the major part of their earnings stream, so if you like TXN, things should be okay long-term.
MUEI aside, MU doesn't. Things aren't "okay". If things we're "okay" MU would be hitting a new 104-week high, like all the other largest capped $SOX issues are doing, not a 52-week high that is more than 50% below its 104-week high.
Then again, if you're a sell-side bull you could probably find a positive way to spin Idi Amin's tenure in Uganda.
Good trading,
Tom |
