<Bruce, the news are out, so WFR will drift with the sector, and I think the sector is going to retrace some of its recent gains, I expect WFR to probe again the lower part of the trading range near 5 and hope it holds.>
Well, today at least, it is retracing up, not down. Little volume, 50K has lead to a one point rise. Maybe 5 is not as likely as you thought?
I had a sort of short position, sold in the money covered calls when the price was over $8, and bought them back yesterday. I'm wondering if this rise is a fake on the part of the MM, or are there really no shares available for sale?
My feeling is I'd like to sell this stock to take the tax loss. I suppose others feel the same. I didn't want to do it when the price was under 5, but based on current earnings and industry conditions, doesn't look like there's much to hold onto here if you plan to sell before the end of the year anyway.
Still, I'd rather sell for 7 1/2 than 6 1/2.
Regards,
Mark |
