NTAP TA:
The last 3 days in a row, we bounced right at the 200DMA:
stockcharts.com[h,a]dahlnymy[dd][pb50!b200!f][vc60]
This confirms, that that level is support, and the uptrend since the 9/01 panic-selling lows, is intact. If I didn't already have all I want, I'd be buying heavily, right here.
Given the volatility of this stock, if 16 is solid support, then the intermediate-term highs will get us to 25 or 30, which would probably be a place to lighten up (and for me to sell my 2003 calls).
This is becoming a BuyAndHold for me, and I've been very reluctant to place anything I hold in that category, for the last 2 years. I'll sell my 2003s, but I'm gradually coming to the decision to hold all my 2004s (240 contracts of 04C15, average price 2.84) till January 2004, exercise them, and hold for years.
In this just-ended rally, I sold heavily (others, not NTAP), so I'm how sitting on 20%+ cash to buy this dip. Hoping to get some more QCOM at 32.5 and below, JDSU (began buying last week at 5), CSCO at 14 and down, some others. My portfolio, more and more, is becoming a Gorilla and King collection, a transition I've been working on since I read the book 2 years ago. Slowly and cautiously, 2 steps forward and 1 step back, putting my money to work on the dips, very hesitant to believe the rallies. |
