<font color=teal> Volatility is here to stay..
Those stocks and many others will always be VOLATILE and provide wide intraday ranges. Traders live off volatility and I see in the 4-5 weeks before earnings season moves upon us (and I've been through 16) there will ALWAYS be earnings shortfalls, always be stocks that buck the trend, and apathy and complacency will never return.
I definitely agree on AMCC, GLW, PMCS, CIEN.. I'm not sure about the others. Its pretty exciting when you can get this on 'discounts' compared with those that might have been stuck in them for weeks, or worse still those that picked them up BEFORE like yesterday or before that. I'm still treading safe with options and although I know they are not assets (a shame, but there has to be something 'con' about options or everyone would be buying them), even CSCO, PMCS, and XLNX were picked up as just a minimal amount of call options.
I don't expect them to open on the upside, but if I see any reversal, I might pick up some 'stock' to supplement the options. I am just slightly apprehensive that even if you are right about them closing higher, what makes you certain this new 'rally' won't be sold into as well.
Maybe I'm being over cautious but today's slide in BBY was not conducive to a general market recovery.
Best Buy (BBY: news, msgs) shares fell 39 percent after the electronics retailer warned that third- and fourth-quarter results would come in below current expectations. Citing a slowing economy, the company anticipates third-quarter earnings of 27 cents a share vs. the First Call consensus estimate of 44 cents, and fourth-quarter earnings of 90 cents vs. the analyst view of $1.02 a share. The stock fell $20.31 to $32.06.
I was in Best Buy just Tuesday, and I did mention it looked a little sparse.... Inventory was not filling the shelves as before. Not half as much. |
