My positions in order of holdings, plus some lengthy comments follow if anyone is interested:
1. JDSU - The Dec ITM calls like XXZLR still seem to be a great deal. I am still accumulating them and know that some of you are as well. jc2020 mentioned to me the XXZLP, those as well are not bad at all. In these positions, JDSU only has to move about 8.5-10.5% to breakeven at expiration, and that is a half a year out. Think of the opportunity for it to move greater than 10% in 6 months given the hot optic sector.
Also, I still have several hundred of the UCQIS, Sept 95 calls. I closed some out the past two weeks to take profits and buy more Dec instead. I usually like to stay 4-6 months out but that is not an absolute rule.
I'd like to think JDSU is taking a breather before earnings run. It is due to assault 150. JDSU is my number 1 holding. Dangerously, I have not been this concentrated in one single position since many years ago when I was in INTC, (the old days) or when I was a DELLHEAD.
2. QCOM - Before ya jump out of your skin, because ya'll know I don't like QCOM, remember I hold leaps. Also, since I closed NTAP, NT, and CREE positions, then QCOM simply moved up to number 2 is all. I have not added to QCOM and won't.
I have hestitated everytime I say something about QCOM on here because I know so many have such faith in it and have been burned by it on margin and yet, have now enetered it again on its lows. Recall that I got out of QCOM months ago and I told the Porch I was doing so. I only hold leaps.
I do not think QCOM will recover anytime soon. I believe it will have to go through at least two quarters of super earnings, maybe three, along with superior news before it does assault 100 again. I think it is dead money for awhile. Hate to say that but that's my view.
Consequently, I am strongly watching QCOM to decide if I should sell my leaps. I probably won't. That's bullish. I am still in profit in them and do believe that by 2002 QCOM will be somewhat back. I have a lot of money tied up those leaps and, like I said, I fear it is dead money for awhile, and ya'll know what I think about that.... can't get exicited with dead money even if it will "come back". Yeah right, but how many years do I have to wait....
Anyway, I'll probably keep the QCOM leaps. Lots of time. That's good. But, I would not buy QCOM in here, even if it were to go to low 50's I ain't buying it. It must prove itself first. Like I said months ago when I exited it, I may consider it again but only when it is clear that it has turned the corner. I like making money elsewhere rather than waiting for my beloved to return.
Don't fall in love with a stock. It doesn't love you.
Even my JDSU, if it turns on me, like I said the other day, I'd sell it.
3. Cash - Closed some JDSU Sept, CREE Sept, NT Sept, and NTAP Dec positions recently. Have more cash on hand now than I've had since about January.
4. CREE - Re-entered CQRID. This one could explode or crash and burn. I'll take the chance. Low float, volatile, story hasn't changed. Why not re-enter? So I did...
5. NTAP - Re-entered NULLL. Not bad. Check it out.
That's it for my holdings.
Comments on those on my radar screen follow:
6. SDLI - I want it but hate to chase it. Guess it is for real. Need to find an entry. Still looking at QJVIJ.
7. BRCD - Had it on the radar screen a week or so. Still watching. The options don't seem as pricey as last week. Looking at Oct calls, UBZJK 155, and GUFJL 160. Also, look at GUFAL, Jan 160, not bad.
8. RMBS - Off the RR Radar Screen. I use to trade RMBS last year. For whatever reason, it doesn't love me. It filled its 110 gap but never responded. It may run again, but without me for now.
9. BRCM - Back on my list. Made good money on it the first quarter. Will watch it and see how its recent bump holds.
10. ATML - Added to watch list, per suggestion from r.edwards.
11. NT - Not watching it too closely, but some. This one may have a super second half.
12. CSCO - I almost did a July play and still may do so. Look at CWYGL, July 60 at 4.75. Almost bought them at 2 something the other day and I didn't execute darn it! CSCO often will have a good earnings run. Also, look at the 55, 57.50, and 65. This might be one of those doubles or even a quadruples like I got on the JDSU June play last month. I may jump in.
Not sure if anyone is really interested in these comments. These are just some thoughts. I could be wrong.
Whew, I am tired of typing. I hate typing. My error rate is awful.
Hope everyone is having a super weekend.
Take care.... RR |
