The entire market got clobbered today. Although ERTS get hit it did rebound later on. People were buying it up below the 35 level driving it higher. What worries me is options expiration next Friday. The market makers always manipulate the stocks if there are alot of calls. According to CBOE.com the open int. on the 35 calls is 2688 and on the 40's 991. Thats a good reason to keep the stock down until then. Who knows?
Dodidobro- thanks for message. you should find this of interest. Rebely - you are exactly right. It has been mhy experience that the marktet makers in ERTS make the stock do some unsual price swings during option expiration week. Dodidobro - if you need to get out of some ERTS soon, I would encourage you to watch what happens this week. Since it is option expiration week, I believe that the stock price will fluctuate a great deal, and I look for it to move inordinately higher or lower (unfortunately, I don't know which way). This usually happens around mid week. You can be fairly certain that the stock will close the week (minus any earth shattering news) in the 34.25 to 34.75 range.
I would not sell my stock if there were any way possible. I believe we will see some money coming back into ERTS starting next week and continuing into the new year even stronger. Look at what writing some calls can get you. You can add over 10% to your gain without alot of downside just by writing out a couple of months. A couple of months ago, I wrote the DEc. 35 calls on part of my position. This has been a good move thus far, but I hope that my end of week price prediction comes true - so I get to keep my stock.