Company reports "record" earnings, but cash goes down. Something fishy here. Huge increase in receivables and inventory. This is bound to reverse, and the company will miss earnings estimates in the future. This is a $50 stock at best.
Where did that quarter come from!? Have not been 'more wrong' about an earnings announcement in a long time. The good thing about options is that they can't take any more from you than you put in. Maybe you'll get an answer on Receivables and Cash during Q&A this morning. Backlog did not go through the roof and still a high P/E, but...Huge quarter.