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Strategies & Market Trends : (Buying) Options
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To: petal who wrote (221)2/2/2022 4:47:13 PM
From: Lance Bredvold  Read Replies (2) of 249
 
Hmmm! You might want to rethink that. My first (of three buys) was at $8.80.

But also I chickened out on my PRTA put and bought it back for just a small gain. The trouble is that the downside on that one is so very large with a PE of over 100. I did like your comment recently in admiration of the PE metric. I agree but one does need to understand accounting so that you know what gets a bit distorted. In the US, however, accounting standards make a knowledgeable accountant very able to trust the numbers. I see others touting cash flow which I suspect is pretty unsophisticated analysis (though I don't really know the ins and outs of that method). For example, just today I have a company which is down 12% with EPS up and apparently because cash flow is down (CHRW). And it stayed down all day despite my not being worried. Their A/R increased by $280mm which A/) increased by $80 mm. Assuming their customers are not all bad debts, who cares. They don't need the cash.

And speaking of excitement--at 4 PM QCOM was due to report and upon looking at after hours trading it was down over 11%. Boy, it's a BIG part of my net worth accidentally--just couldn't keep it at 10% even giving lots away. But apparently it was all in sympathy with FB's results which led to price down 20%. I'm typing to you right now figuring the numbers for QCOM are now out, but not wanting to look--as the minutes ticked by, the drop in price went from that 11% down up to -2.5% last time I checked. Don't know if I'll come back in 5 to tell you I made or lost a bundle---ah, heck--I'll just go look---apparently nothing out yet, but afterhours it's down less than 2% now. Gotta go.
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