i was surprised by today's poor performance by brcm today. i know it was up 8 yesterday, but on a day like today with the nasdaq bursting at the seems to the upside and following a terrific earnings report, why is this stock down 3 bucks today? why so much trouble with the 75-76 area? if the markets had gone down sharply today, would brcm have given back its entire gain from yesterday and closed at 65?
i know a lot about stocks but i've only followed this one for about 2 months, so i haven't watched the tape on brcm right after a good earnings report before. i would appreciate some insite from anyone who follows this stock like a hawk. i bought a may 70 call on brcm about a month ago w/ the stock at 62 for 6. now the stock is at 70 but with the loss of time premium the option is only worth about 6 1/2 at the close. not sure if i should dump this thing and avoid a loss or hold for a run to 85 or so over the next few weeks. i thought earnings would be awesome b/c brcm is perfectly positioned in a terrific industry. they were awesome, but this option purchase is on the verge of not working out. any informed replies would be appreciated.