Good luck to you, Jacob. I went ahead and sold my shares at $15.38 today. This is a joke. Here I was thinking I was going to go long on this stock and it spikes up in one day, to where I thought it would be in 4-5 months!
I'll tell you, when I saw it go below $13, my first thought was "wow! I can't believe we're getting another opportunity like we did after 9/11." I didn't take advantage of any buying opportunity for a month after 9/11, because I felt guilty to take advantage of a really bad thing like that, but I didn't think we'd get another dip like that due to the vagaries of the market. Anyway, I bought some at $12.72 yesterday and sold today at $15.38. I'm happy.
What's funny is that I thought for sure the market was going to dump Cisco again after the conference call, just like they did last quarter, which drove the price down, even when last quarter's news was just as good as this quarter's. I was planning on buying more today at a lower price than $12 for the long haul. But that's gambling for you. You never know what the market will do after a conference call. I guess Chambers must have said something investors wanted to hear.
I was very surprised at how strong the results were, though. I really liked the fact that Cisco's GM% went up above 60%. They even do the little things like buy back those synthetic leases, even though there's nothing wrong with them. Amazing. Cisco came through again!
Anyway, I hope this rally doesn't fizzle. As Cisco goes, so does the Nasdaq, so I'd love to see it continue. |
