Larry:
Welcome to the bear lair.
A patient but early bear I know, did his homework on IBM, then waited patiently until 10 minutes before the close on the day IBM provided its Q4 quarterly report, at which time he acquired a modest put position. Two days later, he cleared the position, a bit early, but at a 100% plus profit. That same bear, having done his homework on Mu, probably again exercised patience, no doubt awaiting the passage of a noisy train, before venturing out onto the tracks. Having noticed yesterday's large opening volume spike, followed by a satisfying drain-off (which coincided with a price peak), and having witnessed a similar but smaller volume spike this morning, I have no doubt that he is currently establishing a straight short position, feeling that he has both decent fundamentals and a bit of TA on his side. Has this short squeeze/panic passed? Has all the cannon fodder been exhausted? Time will tell.
Bless all you day traders for putting down your money so frequently. Some are comfortable in so doing and some are not.
As noted earlier, I post to SI to both acquire and provide info., not to discuss personal trades. Once I've posted an idea that I think might be of interest to others , and once it has been discussed, I rarely find a reason to repost it.
Best, Earlie |
