capt,
You assume I am now short. The mkt is at an interesting time. I'm actually fairly long on several position with < 50% cash now (first time in a long time), so I no longer have any short positions other than a couple of insignificant out of money puts. My last trade here was a long position that did very well. Alas, like many other trades, I left lots of money on the table and sold too quickly.
I am not currently short rmbs. You should also notice that I thought there were better candidates. Like most of my trades, I covered this one way too early in the 10 range. I might change my mind if the price is right. <g>
My long term assessment has not changed. RDRAM as a product is now niched and will decline towards its impregnable core of PSX-2 systems. They have 10M/q from intel for 4 more yrs, they have that revenue from the royalties from rdram in PSX-2. Mathematically, they can still win in the courts, they can invent something that people want to use, they can start making some friends, so I don't absolutely believe that CB will get Tate's desk anytime soon.
Plus, what more bad news can there be here? What other disasters can strike this accident-prone company? Because I can't think of any more 'very bad things' happening to this guy, I don't really know why it should go below 5 again.
But then, I was wrong when I thought it couldn't go below 10. So don't listen to me. Trust your own judgment.
SbH |
