Well, this will be my last post to the Oakley board (I can hear the cheers already <G>).
As I said before, painting scenarios is a dangerous game, and mine were completely wrong. But I must say, I don't think it was too bad a day for OO, everything considered. If that was the last of the bad news, you should be in good shape. If there is more (i.e. losses) watch out.
OO is too high off its buy point of 9.00 and has that huge gap hanging over it at 11.75 to 12.00, so there is no trade here for me.
I have accomplished my goal of introducing a better alternative to fundamental analysis. GO back and read all the posts from the start on this thread. See how little "fundamentals" had to do with actual price.
Then notice where I first said that the technicals were starting to show a bottom. It was right where they said it was.
I encourage everyone on this board to at least get familiar with TA, if nothing other than to know what you are fighting against. It is not quackery, it has more to do with common sense than anything else. Come over to the TA threads on this board. Even better, come to Technical Analysis on The Beach II this July in Newark, New Jersey. It's free, no selling, no agenda, no "experts," just a lot of learning. It will be more valuable than anything else you can do to improve your trading. Plus, you can meet me, and I'm coming all the way from So. Cal. <G>. Plus it Works.
Bought Oakley @ 9.00 Sold @ 11.25
Bought May 10 Calls @ 7/8 Sold @ 1 5/8
This means that TA got me 25% on the stocks and around 73% on the options. All in about a month. Oakley may go up more tommorow, but remember, I haven't been holding it from 18.00. I have my profits, and I am free to go do it with some other stock. You can look at you portfolios and then look in the mirror and ask yourself if you should look into something different than buy-and -hold or fundamental investing.
Feel free to e-mail me with any questions or comments about TA. I will do my best to tell you what I know, but better still, direct you to some good resources.
Be careful with OO, remember, you are basically putting your faith (and money) in a company that makes sunglasses. I'm out of here (but I will be back if the technicals on OO look good again).
Good Luck!
BCL |
