Isn't that the same thing? I didn't say that it never works, I said that it is never that easy.
APM is another stock which comes to mind: Recently they announced earnings, missing estimates by 40%.Fundamental news from their largest customer WDC at the same time suggested that their core strategy was failing. I'm not suggesting I made money, because I was long, but sold at the open the next day, getting 26-3/8, for which I was extremely grateful. APM yesterday closed at 15, and news after the bell yesterday confirmed that their fundamentals are only getting worse.
If you look at APM's chart, shorting at the open the day after they missed earnings would have been the optimum time to short.
Anyway, I'd rather not argue the point with you. Suffice to say that any trade is never a sure 100% thing. The market is fickle, as COMS has shown. I did buy more COMS Dec 37-1/2 puts yesterday, and THOSE at least are making money, and I expect the others to make money also, as the days go on. Techs are getting trashed today across the board. All the charts I looked at last night suggested everything overbought across the board, so ORCL has provided a nice catalyst for a decided turn down. |
