Semi: RE:"QNTM and KLIC..."
I'm buying QNQEU QNTM MAY 37-1/2 CALLs on the way down, accumulating them in batches of 10. Today's purchase was at 3-1/4. BTW, I own 500s QNTM @ 27 (and 500s WDC @ 26-5/8), which, until recently - I was very, very proud of. I sold 500s of each at the end of QTR-3, fortunately.
I am short on the index with PUTs, rather than selling covered calls on my equities and all that.
I sold 500s KLIC @ 34-3/8, I think it was, +3-3/8, a few days ago. I am waiting for AMAT to re-test area around 30 before re-entering the semi-equip sector.
Personally, I don't think this is a swell place to go short (I mean, look at the P/E's and horizontal supports for QNTM) - Last Wednesday was the apex of the UpWave from the panic sell-off (I went short on Thursday and Friday last week). There was some indication of a top on RDRT last week, else, WDC appeared to be drifting, and QNTM was positively stormin' until the WDC / IBM / RDRT nooz came out. In general, mon ami I think that the markets are driving the stocks right now, rather than the other way around - so I'm not sure that talking about individual stocks is all that relevant - until the markets find their footing again...
...what's going up (besides bondz) ?
-Steve |
