It’s the lunch hour in California after a particularly ho hum day in the markets. It’s nice to see a bit of a rebound after last week’s drubbing, and my bet on the SPYs might still pay off. As I write today’s musings, I am about even on 1,000 SPY at $132.06. I’m not afraid to hold for a few more days and see if the rebound can get some legs. Would be happy to scalp a couple of points out of this idea and get out.
On the larger cap side- CREE (NASDAQ: CREE) is still in no man’s land. At $28- not cheap enough to add to, but not expensive enough to write calls. I’ll just hang in there today.
Apple (NASDAQ: AAPL) is a bit irritating as it ran away from me before I could buy some. If I had been smart enough to buy at $120, I’d be writing calls today. Research in Motion (NASDAQ: RIMM) is also being uncooperative- looking for that one to trade up into Wednesday’s post close earnings so I can get short for a trade. $112 is not the right time to get short- I would prefer around $120. Let’s hope it gets some legs tomorrow and the next day.
In our little corner of the microcap world its All Quiet on the Western Front. No significant action anywhere.
Spicy Pickle (SPKL), is a non event today, eFoodsafety (EFSF) anemic – today is the day they should be starting the commercials- PhotoChannel (PNWIF)- nothing new- no annual numbers on NightHawk (NIHK) yet- TraceGuard (TCGD) quiet to the point of death-
V2K (VTOK) was out with some positive news pre open, but I don’t believe investors get it yet- it is going to take some time for people to understand this one. I think I’ll do a BLOG feature on today’s news.
Going to be watching RIMM like a hawk the next couple of days. The better it trades, the more I’ll invest in a put option.