Scott,
I'm not the best at this, but I'd say the near term bottom is in the medium 11s. This is where I'd sell puts again.
iqc.com
Note the RSI is peaking near 50, and the stochastics are very peaky. When they both get near near 20, that's my buy (or sell puts) signal. The chart does not take into account today's action so far, but that action seems to be the beginning of what it is telling me. I suspect the sell off will continue on light volume into the holiday and on the short session Friday, bottoming next week, as nervous nellies try to quietly bail. Again, I'm not very sophisticated at TA, but these parameters have worked for me more often than not. All my humble opinion.
What part of the system would they need to license? Does VISX consider them a big enough threat to string negotiations along, then go to court? It wouldn't surprise me. VISX could be expanding its installed base while LASE spins its wheels in this scenario. VISX might consider it worth the time and legal cost to do that, even if they thought they might ultimately lose and have to go back to the bargaining table. Of course, LASE management has said they don't believe they are infringining on VISX's precious patent.
Very uncertain, and very interesting. Now that I think about it, I may not sell puts until the issue is resolved, near term bottom or not. I'd be curious to hear some other opinions on this issue.
Cheers, Tuck |
