Ben, I totally agree with Richard Harmon. I have not looked at Edgar in a while, but as far as what I saw only 2 things happened:
1) Directors took profits- this could be tied to expirations, to taxes, to wise investing, but it is probably not because something is wrong as,
2) Directors, in total, increased their holdings of stock.
If you look at bollinger or stochastic, the stock is undecided in which direction to go. The fact that it recovered on Friday to prior levels (levels at which the directors sold) is a positive as this includes the extra million shares for the buyout plus the extra stock generated from the excercising of the company options (keep in mind these are not market options).
Though the stock might dip because of last week's runup, there should not be many shorts for June or July. (They shorted before these Puts were available) Thus another positive.
August is the next critical month. There may be shorts here.
I sold puts (back in late January) for both May75 and August70 (long position). May expired worthless, thus it was all profit. Another positive.
The shorts made money, but probably not as much as some people might think. The people who probably made the most money are those that took advantage of the stockholders who panicked.
Though I'm long, I sold all my stock on Friday at $77. Will buy it all back at $72. There is good support here.
Buy Low, Sell High, STAY LONG. |
