I for one am not buying this upturn on the news about Greece. The reality is we still have some issue's here and jobs are the biggest one. So it's nice to see a bump up across the board for the most part but as we have seen before every time we get a bump up it comes right off.
Today was the first 2 days rally since the first two days of the month of February.
Retail sales looked stronger than expected but people are still not spending money since they are still worried about their jobs. Even with the jobless report today we are still seeing people having problems finding employment.
Cheesecake factory (CAKE) reports after the bell. This casual restaurant has long been the darling of Wall Street however they suspended opening up newly planned restaurants because of the economic downtown. Long term this is a good play but their 4th Qtr. numbers to me will not be as good as anticipated and with the run up today an opportunity to make some money on the pullback.
http://stockcharts.com/h-sc/ui?s=cake
So I bought CAKE FEB 20 PUTS @ $.15 AND THE 22.5 PUTS @ $.74.
Also, AA made big move today so I added to the FEB 13 PUTS @ $.13
If you made some moves or have some idea's to share go right ahead and let everyone know.
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CAKE is going to beat today not disappoint, but it won't surprise anyone. You shouldn't have bought puts...the stock is going to stay flat tomorrow and you're going to lose money on the volatility drop. I would have wrote calls if I were you. Oh well
Well we are both going to find out with everyone else in a little while.
Thanks for the input and check back in. Did you make any moves going into the close?
Thanks again,
Marc Roth
No I don't own any shares anymore and was not comfortable buying calls or puts before these earnings. I bought shares last year in November because I liked their Q3 earnings, but missed a chance to sell them in the 22s in December since I thought it was heading higher. Luckily I got a second chance and I sold them this past January after they made the pre-earnings release and the stock went back up to the 22s again. I wish I had just written calls close to expiration every month since November because I would have made extra profit every month doing so.
I've been waiting to get back in for a while now but won't buy at these prices. Next time I buy I will definitely be writing calls instead of sitting on the shares doing nothing.
Looks like I'm going to have my CAKE and eat it too. They beat numbers on the bottom line but this sector is weak. At $22 I go in the money so I should get a nice overnight trade here. Could get a Friday sell off especially with the news from China.
Hello, all. I've been reading along and finally signed up for an account. Tried to change the username to mimic the F board at Yahoo with no luck. No biggie, it shouldn't be too difficult to figure out.
fishfordinner06516
Hi Fast Cash. Thanks for following. Please let anyone know about the site (friends and family) that you think might benefit or would like to participate.
If you have questions please feel free to use the question area that is set up on the right side of the page to ask them or any comments you would like.
All the best,
Marc Roth
nO ANSWERS no ACTIVITY TODAY LOOKS LIKE NOONE IS FOLLOWING MARC, YOUR APPROVAL RATING IS DROPPING
Actually there has been quite a few people logging on today to the site. It's slow in the market today so most people don't have much to discuss.
My approval rating? Didn't know I have one. Where is that?
Thanks,
Marc Roth
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