Thanks Tom.
Funny, as I do very much the same with a little variation.
Unlike you, who probably has as been aquiring Q far longer then me, I am still in aquire mode. Therfor, I am not swapping my long positions for the leaps. Instead, I am writing Covered Calls on my long positions so I can make some on premiums, yet am buying them back lower ( so far anyway...I realize I will probably have to buy them back higher, but if I can roll down a few times, the one time I have to buy back higher, still leaves a considerable profit overall ) so I can keep the stock. Additionally I am buying 2001's pretty much the same as you. I am buying them within $10 of current price when I buy. On the 2002's however, I am buying them approximately $50 - $75 out of the money, as I feel the premiums are better and we have 2 years which is ample time to turn the Qcom OTM's into some very nice DIM's.
I also agree that we will probably tread water this week until options expire, but should see a run to earnings....maybe not $170, but we should see the $155- $170 range, and possibly a good bit higher. Unfortunatly, I think after we hit or test some new highs, we will have a nice downturn back to current levels as the houses bring down the market. I think AG hinted tehre wasnt much he could do to stop the exuberance, but I still feel the market will have a nice correction. Any thoughts as to how Q will react to all this...is my analysis all hot water, or am I hitting at least one or 2 nails on the head<ggg>
Have a great night...hope you blast your handicap out of the water
KG |
