Sunday, November 11, 2007
Weekend update...
Things move fast in a falling market, too many alerts, too many choices, but that is for what I live.
EMC: Stock continued to decline, so I actually purchased a half position on Thursday around $20, and will continue to monitor the paper traded options as well. Officially, I have ~4.93 shrs at $20.275.
SSYS: Previous stock purchase as retraced lower and I filled my final 1/2 position on Thursday as well. Bought ~4.33 shrs @ $23.075. In total, I now have ~8.2 shrs with a cost basis of $24.40. I also now can calculate a stop of $21.35 and an initial target of $30.50.
I am a little worried about these new positions and the market in general, it is not looking healthy, but as I mentioned above, these troubling times also are ripe for opportunity.
JASO: a Barchart downgrade that, while speculative, may be worth pursuing. One problem is the HUGE premium for options, >10%! I would consider a purchase of the 30 Jun08 calls for $28.70. Huge spread, huge premium and low leverage. But given the moves the stock can make, it seems prudent. Close on Friday was $54.51, but I would wait for a pullback to $52 or even $48 before buying in. This is a slow, patient, wait and see kind of trade, especially given the markets. Let the markets sell off, the mo-mo players leave and then pick up a position on the cheap.
That's it for now,
Masterjaz out
EMC: Stock continued to decline, so I actually purchased a half position on Thursday around $20, and will continue to monitor the paper traded options as well. Officially, I have ~4.93 shrs at $20.275.
SSYS: Previous stock purchase as retraced lower and I filled my final 1/2 position on Thursday as well. Bought ~4.33 shrs @ $23.075. In total, I now have ~8.2 shrs with a cost basis of $24.40. I also now can calculate a stop of $21.35 and an initial target of $30.50.
I am a little worried about these new positions and the market in general, it is not looking healthy, but as I mentioned above, these troubling times also are ripe for opportunity.
JASO: a Barchart downgrade that, while speculative, may be worth pursuing. One problem is the HUGE premium for options, >10%! I would consider a purchase of the 30 Jun08 calls for $28.70. Huge spread, huge premium and low leverage. But given the moves the stock can make, it seems prudent. Close on Friday was $54.51, but I would wait for a pullback to $52 or even $48 before buying in. This is a slow, patient, wait and see kind of trade, especially given the markets. Let the markets sell off, the mo-mo players leave and then pick up a position on the cheap.
That's it for now,
Masterjaz out
# posted by Masterjaz Out @ 5:26 PM 
