indeed. my BRCM is still working nicely looking to close that out soon. Possibly do some different things with it. and i also have the APKT puts to look forward too. only i got them right near the open which is my only regret. glad to have found out you were in it to though! it will hopefully clean up nicely.
ryan, i think the question might be, when the markets change to bearish will you just as likely get into puts? or in a choppy top, would you handle the greater volatility and unpredictability profitably? i think we are in a nascent bull market now, and being bullish should work for a long time, but not forever keep going man, and give us some hints about your plans with CSCO for 2/7, if you have any THX, bry
Hey Bry, Looking ahead already, Nice! Not sure about CSCO, the swing there may not be enough for my taste but I'll be looking at my past experience in CSCO and see what happened. Here's a few I'm looking at for next week.....RL, YUM, HAR, V, and PNRA. RL and PNRA will make some big moves. I like V as probably the safest trade after looking at MA's report. The chart in V is nice too where its just breaking out. As for going into puts, I'll go into puts where I know earnings are weak or have been weak. Like next quarter, I'll be setting up for a weak GOOG and AMZN. I expect PH to continue to be weak....its less of the market's direction and more of the individual stocks fundamental/technical. That's why I love trading around earnings. Even in a bear market I can still find a +10 point mover. Of course it helps that we're in a nice rally.
Mastercard's (Ticker: MA) earning report that came out this morning. It was widely expected that MA would not have a strong result because of its higher exposure to Europe, but MA proved the naysayers wrong with EPS and revenue topping estimates. V, with less Euro exposure, should have an even better report. I'll be double checking estimates to make sure those estimates aren't already set too high. Plus visa is hitting 52-week highs here and chart does show a nice breakout just today after 4-5 weeks of sideways action. In my opinion (and I'd expect everyone else to do their own research and not rely on me), V should easily beat estimates of EPS and revenue, and we should get a pop just like today of about 3-4 points higher.
gmst, You have a good point. Know I haven't researched what you said above. For me, it would be difficult to use that kind of data because all my option trades are purely mechanical trades with semi-automated buy/sell/stop combination orders. Very little human intervention. But you do have a good point. Jeff
PNRA looks like nearing a good time to enter puts maybe do a long strangle with March and Feb today or on 2/5 last earnings it gapped higher and is already up 50% this year; gotta suspect maybe this time the expectations are so much higher and there is complacency that it could gap lower on 2/7 and/or gap higher (st exhaustion) and then reverse. Look at AMZN it up from 172 to 181.7 so far. I actually am beginning to like the post-earnings (afterglow) plays better. Thanks Ryan for this thread. All I know about this PNRA is that I take my laptop there sometimes, get soup and do some work. - lol
Crazy stuff this morning. Had to take losses in APKT and EL, oh well. Made some of that back buy closing out the AMZN calls I bought late yesterday. Heading into the weekend, I'm holding QCOM, SYNA, and SWK. Accounts at $6400 and few bucks. Time to go get some rest and get ready for next week.
again, quite dissapointing with apkt puts... Oh well. Taking Forex advice buying in the mid $26 range has made it a little easier to absorb. good strategy I think.