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Yes, I day-trade! But Oakley is not a good day trading stock unless you are only looking for 1/4, 5/16 or maybe 3/8 if your'e lucky. Besides, Oakley trades in a very bizarre pattern. I like to daytrade stocks like ORCL, MSFT, INTC, PAIR(not lately though), NSCP, etc. They have nice movement during the day, both up and down. Look at their intraday charts, nothing boring there. I am curious as to what you are using to determine that NOW is the time to buy OO? Especially when you say that you don't expect much to happen before earnings. That seems a bit contradictory to me. After what happened with earnings last quarter, ONLY 1 cent; What makes you think they will be able to deliver 14 or 15 cents? I think it's somewhat likely, based on how well the new stuff is selling, but then again, the best sales will occur during this quarter (July-Sept). If Oakley doesn't deliver expectations, I would expect OO to be headed back to $10 or less again. I expect to see a lot of selling prior to earnings due to the fear of being in the stock when they are announced. Remember in the first quarter, the stock was up to 12 and headed back to less than $10 due to the lousy earnings. The recent rise is much higher, and more new holders are aboard, as well as many holders from last year that are still holding on hoping for a turnaround. If Oakley doesn't deliver, everyone will want to bail and no one will want to buy. That creates an ugly scenario. That scenario is probably 30% likely. I give Oakley a 70% chance of pulling off {or actually pulled off, since it's over now} a good quarter. If the good quarter happens, Then this could be the scenario; The price should pop at least $1 or $2 right after earnings, followed by upgrades from several analysts resulting in more strength in the stock. That is what I am looking for. That is why I bought OO at 9 5/8 and an equal amount at 10 1/2 (Average price 10 1/16). Any input is welcome. Regards, Jeff........ |
