Hi Manny, sorry to take so long to answer...
I had a client in my office all afternoon and had just gotten back from the trading expo, otherwise I'd be littering the thread with my posts all day!
I like BEAS any price, any day for trading but due to the disgusting market sentiment out there, it seems no one else does right now <g>
I have been trading it daily, catching bounces and sometimes getting nipped, and today I bought end of day at 44ish and did hold overnight hoping for just a feeble short covering out there tomorrow. I won't be holding through earnings though, for the first quarter in over a year, because nothing is holding on after earnings - even with upside guidance (like CIEN!) Even PXLW, had one great day and the fabulous upside guidance they gave is long forgotten.
This market is so neurotic, traders are now overdoing it to the short side the same way they overdid the exuberance to the long side!! So it makes no sense to hold, there are always sellers after the open so you can get on board if it moves up.
Did you watch BRCD after hours? First it shot up to 46, and within 5 minutes it was 38. I just don't need that <g>
So I'll be selling tomorrow either at my break even stop or with a few points hopefully but I'll be selling during the day for sure.
I guess it's better I didn't answer this at noon you might have bought it then and kaboom!
The stock is not the lovely long it used to be, it's a trader's plaything, and is under major shorting attacks due to its high PE. Really too bad, I love the company.
Maybe BEAS will knock their socks off, as has been hinted at, and the downtrend will end...but only if the Nas stops tanking! |
