REH, Milehigh, Bp and other long term Rambus holders (more than one month that is)
Disclaimer: currently, I am slightly short Rambus. I only have a bull spread with calls and a few more puts (all December). So, I would like to see the stock at $75 exactly on December 18.
In my experience, when a thread starts attracting a lot of attention with people thinking that the stock will never go down, that is when it is time to bail (at least for a short time).
These threads are the ultimate contrary indicators. Every single time I see optimism completely take over a thread, undoubtedly the stock goes down.
I am an unmitigated Rambus bull, but I can't help but notice that we've had a great run here in November, as we seem to do every November. I'm not saying Rambus can't go higher. With time, I think it will. However, we all know from experience what this stock can do in the short term. It is up $20 this month and could easily retrace all of that in just a few days.
December is historically a good month for the market, but it wasn't last year for techs. So, I'm pretty neutral right now and of course a little miffed I left some on the table (sold most in the high 70s).
However, I can sleep just fine at night. I just hope you long termers are being careful.
Happy Thanksgiving. |
