Mohan,
<< Most of the speculative junk will be shredded in to half or even more. Momentum stocks like PSFT, BAANF will hit the wall. >>
Both PSFT and BAANF have split 2:1 in the past week, so you were correct that they were shredded in to half !!! : ' ) <ggg>
BAANF: In the past 4 days, BAANF has dropped from 73 pre-split to 31 1/4 post split (62 1/2) for a nice 15% drop with no bad news. (In fact, there were several positive press releases.) Is this just the beginning?
I now own 2 Dec35 puts on BAANF which expire next Friday. (Small $, but I have to start somewhere!) Should I be afraid of a year-end rally or a bounce in this stock, or will the massacre continue next week?
Your thoughts on the market in general would be very much appreciated as well as your specific recommendations on my BAANF puts.
I also own 2 Jan30 PSFT puts, 2 Jan30 COMS puts, and 1 Jan37.5 COMS put. I expect both stocks to be a lot lower within 5 weeks, but I would rather sell all of the puts before the year-end rally starts so that I can buy them back cheaper during the first half of January.
Should I try to sell these on Monday, or do you think that this downward trend will continue for a few more days?
Also, any idea why COMS has held up so well? It has only dropped about 3 points over the past four days. Do you have any projections on where you think it will go from here?
Your input during this volatile time is especially appreciated. Some bad Calls have devastated a big chunk of my portfolio, but I hope to Put things back to where I began very soon.
Thanks in advance for your input!
Happy |
