>>What's your excuse?
Well, Tom, Benny, Brooks, Chirodoc, Pat, other long term posters here,
I finally bought into CKFR myself. Unlike most, it is a
small position.
Why? Good graph (technicals) and supporting possibilities
for major breakout. A percentage play for the near/intermediate
term. Exploding volatility raising option premiums to crazy
levels (yes, I'm afraid I did a buy/write of covered calls;
I can't resist those high premiums for April out-of-the-money
calls. Hoo!).
Downside risk is several fold: Earnings news; MSFT competitive
perception (I agree with posters here it's more perception
than reality, but it affects attitudes and therefore demand),
relatively large overhead supply at this price level (27-28).
If I were more prudent, I would have waited for a breakout
over 29. Who says I'm prudent? <gg> Anyhow, option premiums
will dull the pain on a pullback.
I retain my long term concern about the technology base.
That has gotten worse in the last few months (my concern,
that is, not the technology base). But I don't see that
as a near-term problem; in fact probably the contrary as
CKFR benefits from IBM's woes.
Best regards to all.
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