Kevin, so i guess that's good news bad news. At least now you'll be known as Father Easter as opposed to Father Xmas. I cant believe that you finally missed on a trade. You were making me feel totally inadequate. FYI, I got out of the rest of my ASND Mar 60 puts yesterday, but still have some Apr 55 puts from way back, so at least i got some of today's move too. Networkers seem to be becoming the "96 semiconductors" of 97, ie everyone loves them, takes a little pain, still loves them, more pain, then hates them. Thats why Im not sure how much longer networkers will stay weak. remember this time last year when CPQ came out with a warning. PC makers all tanked, and then look at the next 6 months ! Networkers have now had 2 mths approx correction. We'll need some consolidation down here (1-2 months ?) but thats perfect for you and me, as it should lead to a lot more volatility, as greedy fund managers impatiently race to be the first 'getting back in'.
Last I looked MSFT was in the lower half of our beloved 95-100 range. Picked up some more Apr 100 puts on Mon/Tues. It HAS to be the final blow in the Nasdaq. If anything it might be a good indicator for the smaller cap tech stocks including our favourite CUBE.
Trying to search for some other cheap battered stocks in the NASDAQ for longer term trades. Any ideas ? WCII ?
Im most upset not to be back home in NYC while this week is going on, but at least ill be there for FOMC-day(s) next week. I guarantee we'll be in for some volatile weeks whether they move or not.
Good luck.
Seeya |
