I still think a major fund is unloading for some unknown reason. History shows us they have done that often before, and I already posted the SEC filings showing those historic events. If that is what is going on then this is an opportunity.
Marty has been bring over the Yahoo significant postings, and they all seem to indicate a positive future. I think the real problem is, when you can make 20% returns in a day in the Internet stocks, why would you invest here. My answer is because the Internet stocks can go down 20% a day just as quickly as they went up. But that is a personal decision. [I should have bought AOL @ $75 in November, and Lycos @ $78 this week - (that level was hit intra-day and represents the same hit that SEEK took on the DIS news which was an equally complicated deal for the market to understand), but I bought more RDRT instead.]
Could it be that the major sellers are chasing the Internet sector? Could it be that the major sellers have capital problems of their own and are selling to cover?
Could it be that the quals in process are just that, in process, and we need to wait for completions and announcements?
I am waiting to find out.....for now.
I am investigating selling calls at breakeven or better, given that IR told me there will be no news on quals for as much as a quarter while they are in process. I am just filling out the paperwork, and am not approved yet for options. Anyone got comments on this strategy? I could use a few pointers.
Runs with Scissors, (-8 Dennis 8-)
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