You buy a stock. It goes down, now what? Message Board

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Strategies & Market Trends : You buy a stock. It goes down, now what?

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To: Investor2 who wrote (104)	7/24/1998 6:24:00 PM
From: Bald Eagle	Read Replies (1) of 112

I said that I hoped the stock would go up after I bought or something to that effect. I believe LSI has been stopped from going much lower by reporting 23 cents for the last quarter and the CC was positive. They have had a lot of down days recently, so an up day after earnings release is a good sign to me. I believe the recent drop was due to earnings fears. BTW, LSI is about the only semiconductor company that has a buy rating from Tom Kurlak. They (LSI) say flat for the next quarter, but then up in the fourth quarter. LSI should make about a dollar this year and forecasts for next year are about $1.56. I'm going to buy 20 puts for protection. I haven't decided how far out yet. Then if the price rises, I will sell covered calls which I hope will be out of the money at expiration day. I'm not sure at what price I will sell. It will probably happen because the shares get called away, hopefully in a couple of years at about $100. :-)

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