<<hi joel,
i still like elon long long....but....>>
I like elon also for the long term, but will not touch it for quite some time, if ever again.
ELON hurt me more then any other stock during this last month or 2.
I had been watching it, wanting to get on board, but it kept going up. Finally after crossing 100, the bullishness from a couple of very well respected folks on this board, led me to say screw it, and buy some ( I do not blame anybody...as I said, I had been watching and waiting to get in....and then over 100, when these folks started talking how strong it looked, I figured it was another qcom all over again....I sat out all last year til september waiting on it to dip before finally buying in at the high for that time...obviously, to date, the results with qcom were far better ). I grabbed some at $108, when the btalk was of busting thru 120 in a heartbeat and heading to $200 in the near term. Well, it dropped to 90, so like a smart camper, I bought some more....then again at 85, 75 and 65. Every share was covered to a point, but every share ended up having to get sold in the $30's to clean out some margin. Then of course LPTHA at $52, and then down to $25 a week later and rnwk at $72 down to $30's, and I was smacked hard.......but no doubt elon hit me the hardest and has left a very sour taste in my mouth. I wanted some revenge so I bought few calls a few months out and itm. However, after watching how sickly the stock reacted while the naz was going strong and then delving into their earnings report a little more, I have done a complete abow face. I sold my calls and have said good riddance to elon. Too many other safer bets that have jujst as much or more potential. Hell, those NTAP calls I bought at $14 on monday, were $28 or so within a day or 2. I think the pyscholgy has hit elon and it's gonna take a couple 2, 3 quarters, for them to EXECUTE, before I even consider it again.
LPTHA....it's a weird one, but one I feel has something bigger then we know currently brewing. I had bailed on it in the $30's, but bought some back in the teens when I heard some potentially explosive news could be forthcoming.
Great weekend to all |
