Well Mark'
MHO is general market conditions.. As they sang, "Times they are Changin"..
NTAP isn't cheap.. 500-600 pe, tough comparisons going forward, new competition etc..... priced to perfection as they say.. A wondeful company, but WAY too high priced..
Like a C series Mercedes, A perfect auto IMO, but not worth a 100K.. 35-40K is about right..
Of course NTAP is cheap, relatively speaking from a month or so ago but in the market, the "theory of relativity" doesn't hold up very well.. So a person, imo, has to overlay the price on to the market back drop..
I sold the DEC 70 puts, on Monday, covered yesterday, for a nice profit, AHEAD OF EARNINGS,.. No way would I hold a volatile issue, A traders dream stock LONG, into earnings, to be announced after the close.. That is priced to perfection,.. with a sloppy a last few weeks chart pattern
IN THIS UNCERTAIN MARKET ENVIRONMENT.. and so on..
The market has been WARNING US for weeks maybe months, about Selling the news on Good companies and Bad.. So I just heed that warning..
Will be watching to ratchet down a put postion again..maybe in the 50 range.. We will see...
good luck..c |
