I'm not saying there is anything wrong with the company but the chart tells me that I could cover it on Monday at $29.04. I thought making $11K over the weekend is better than leaving my money idle. What do yo guys think?
you may be right. We broke the support with the heavy volume today. It may have support @29.06 -29.30 area. But in next 2-3 month, ORCL may go lower than $29. For weekly chart (3/18 and 6/21 bars), ORCL down with heavy volume. Technically ORCL is a broken stock now. Any attempt to bounce will face heavy short selling. My 2 cents.
Yah, I think I did a mistake here, bought july $31 calls @the lowiet levels today but didn't see a move up I expected at the end of trading. I guess I made a costly mistake and it ll go lower on Monday :(
Look at the broader affect Housing Sales has on Dow and Nasdaq (reported Tuesday) coupled with Larry's announcement sometime next week. I wouldnt be so concerned bargain hunters are waiting for the options to expire, then they will be back.
Never short a cheap stock. You might be better to sell a call spread. That way if it sits in this range you will not be covering dividends while you wait for the drop. There is a div coming up in about few weeks.
I would cover dollar cost ave: 33% cover at 30.00, another 33% cover at 29.90 and 33% cover at 29.75. Consider 29.58 is as low as it went for about a year -- so pushing for more of this will get you squeezed out. Waiting until 29.04 is too dangerous for me -- but its your risk.
Be covered by close of business Monday due to the fact home sales are reported on Tuesday (could affect whole market) and also Larry is under considerable pressure to make a strong announcement on Oracle CLoud development sometime next week. I figure that announcement will bump oracle to 31 or 32. After Google and Apples earnings in July we will hit 33 again --. My predictions.