David, funny how Kurlak miraculously chose an expiration Friday to repeat what is common knowledge (okay, common knowledge to the bears <g>) - basically that the Goldman/Cohen/Joseph-created run wasn't sustainable.
Gee, isn't it amazing that after all his warnings, all of these Kurlak clients are puking up MU?
Or is it that he fact that this came on an expiration Friday after a pretty strong run is causing a lot of options traders to close out call positions, which in turn leads to selling by market makers, which in turn brings the heat on the asset holders...
Kurlak is the best there is at getting maximum market impact (my Kurlak ratio = price movement divided by insight and let's face it Kurlak has the highest there is; no one does more with less <g>). Clients would have to be brain-dead if they haven't figured out by now that their axe ain't too sweet on this one. So a call on its own probably doesn't do very much. Abbey Joseph Cohen isn't going to be on the tout couch this weekend. Montgomery's John Joseph looks like his usual bad self (the guy is running neck and neck with Dan Niles for worst timing in my book; and as sad as it is for the small investor who took Joseph's call seriously and bought, I love it when a real firm like Merrill, warts and all, takes it to California IPO shop and shows it who's boss).
Then again, the timing could all just be a coincidence.
Good trading,
Tom |
