That's funny! One day doesn't make for a medium term trade idea now does it. And if were talking about trading ranges, the stock is still in that range right? Very much doubt that anything meaningful is being missed, still another month and a half before earnings day.
The key is to be in before any breaking news hits. Too difficult on the overall market to call. Too fickle. Either your in or not. If you play option protection that is getting expensive. Do you wait to maybe save a little with the risk of maybe missing a quick snap back. Good luck and have a good day.
Not that cut and dry Rlolsen. The stock is range bound and probably will be for most of the year until November. Unless buyout rumors resurface, nothing is going to change the stock price action. Analyst PT are baked in with nowhere to go, all potential announcements are already bake in as well. The reality is that some will get in and some will get out, leaving the stock in a nice tight range for the next several months. I dont care about a snap back with this view, because it will probably snap back the other direction as well.