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ARRIS International plc Message Board

  • an_intellectual_jarhead an_intellectual_jarhead Jun 2, 2006 2:18 PM Flag

    Closed position

    Closed my position of 220 June 10 calls today at $2.50.

    Recall last month I said I have 120 May 10 calls, bought a $4. Well, I took a wallup and rolled over what I had into the Junes.

    Still bullish on the stock and still own shares, but I think that after two conference calls and strong upticks in the major indices, the stock looks tired, at least for now.

    Today, the employment news wasn't good, and I think eventually the market might turnover a bit on concern on weakening earnings.

    ...and if the damn Fed raises interest rates in June, we'll have a correction.

    Not to bearing on Arris, but need to close a short-term position. Whew.

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    • IJH....Looks tired? What chart mojo are you basing that opinion on?

      RSI looks fine, MACD heading back up to +ve. Stochastics? Not the greatest short term indicators.

      • 1 Reply to kulldesac
      • With a high beta, the stock didn't just as that beta would leave you to believe. Second, we had two major conference in NY, helping the stock to go up. Moving toward earnings, and especially before June option expiriation, I can't find anything near term to push the stock above $12.50. So, I close my 220 June 10 call option position.

        I'm not saying that I'm not bullish. I am. RSI, MACD, aside, I have a window of only ten trading days to do something.


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