Was up .38 regular session.
NY Dr. Eboli announced today - and tomorrow friday so who knows what will happen.
I was on the road, didn't listen to the call.
Bought jsut 2 FEB 17.50 calls for 1.75 mostly jsut to see if I could get them.
Big up market day.
If UTEK gets many downgrades and craters tomorrow I'll likely add common and/or calls. Not much - just playing here.
Bought a trading lot at 17.53 and sell order in already incase good news on CC.
If it falls roughly another buck and a half I'll likely buy another lot.
Don't have much time today. I will say the mgmt of a LED company that I still own shares in have to be the poster children for inept management and a lot of cash (CREE).
I'll likely put a bid in 2 bucks below last buy incase the call is bad.
Also was looking at the options - earlier some activioty of 50 on NOV 17.50 calls and NAV 20 PUTS.
I have traded this stock a little over the past year - along with CY tha t s often unloved but pays a big dividend.
I've also played with calls on UTEK.
I don't have much of a position - but this is a heck of a beating today.
I'm thinking shares are a decent price, but not a bargain.
For a buyback I'd only want them to buy when they are a bargain, and to help prop up the price.
Like currently if it got down to 10 or 11 is where I'd like them to buyback if they feel they have to. I'd still prefer they jsut set on the cash, but a buyback is the least destructive of the options that they had to choose from.
Just let them run the business!
Cash is a GOOD thing!!! After it's gone - it's gone!
Management has always blead this company and put their copensation FIRST above running the company.
Also they have entrenched themselves with golden parachutes a while back.
The only share holder unfriendly move they haven't done is a large aquisition to use up that cash so they are less attractive to be taken over themselves so they can continue to bleed this pig.
This mgmt team (along with a smaller stock I own) should go down as one of the largest opportunities squandered away - for shareholders tha t s. These folks in mgmt reward them selves handsomely by any standard for very sub-par perfomance IMO and always have.
Which means the BOD has always been asleep, or paid off, or friends, or whatever.
Glad I cashed out most shares a few years ago.
So much potential, such poor execution!
Likely a repeat.
Award themselves handsomely for outstanding performance(in their own minds).
Then as an afterthought they will likely report mediocre earnings and #$%$ guidance.
These guys couldn't manage themselves out of a wet paper bag. But as long as they can stay inside that paper bag and draw salary and generous options they have no reason to - and it shows.
I don't follow as closely as I used to. Hardly and position remaining.
Years ago I did make decent money on CREE and all shares I hold are house money.
This mgmt team should be remembered for what they WEREN'T able to accomplish given superior technology lead, and what they WERE able to accomplish for themselves personally at shareholders expense IMO.
I placed a sell order over 20 for the 18.85 shares I got the other day.
Still have a decent amount if these do sell.
Remembered the "all or nothing" order this time because AP can get rediculous with all the 1 and 2 share pieces that come thru on an order.
"scale in, scale out, online commissons are cheap"
Most of my money is in ROTH;'s or the equivalent so no tax implications.
Just got home to see what the heck is going on today but won't have time to place any trades.
I am looking at adding to my speculative position in CY. Down another 9% friday and still a serious dividend.
Sold most INTC a while ago (in lots) and what I have I'll continue to hold.
Well, LED is kinda crazy too.
I don't know what to think.
I nibbled a little on other stocks thu and fri - I really don't have much time to monitor things anymore.
I debated about buying some KLIC leaps (already have a few Jan 14's).
As I pointed out I believe a few weeks ago for chart folks there was a head and shoulders.
INTC doesn't chart so well either.
I have recently (the past few weeks) added to defensive plays(AWK, DVA), a speculative small cap with a high dividend (that is almost due) AP, but have mostly just been watching.
If we fall much more I'll likely add even more KLIC and then write calls on any bounce. I just generally prefer to BUY calls in January/early in the year rather than WRITE them - January effect and all.
Now as usual (and for many, many years) I only hold only about 10% of the shares that I did when KLIC was under 2.00 a few years back. And the shares that I do hold are still up about 40%.
So I may be looking at this differently than most, and certainly different than a newcomer.
Still setting on about 15% cash.
One thing IMO does remain the same:
"Scale in, scale out, online commissions are cheap" or (noone credible is smart enough to predict the bottom OR the top let alone AND the top).
Gotta run - good luck folks!
Added more trading shares in the 18.80's this morning - old order I let stand.
Still think it'll be good.
Divvy coming soon.
If it falls another buck I'll buy another lot.
Terrific strength in a bad market today.
Just getting home to see what happened in general market.
Tomorrow is an October friday - no reason to rush and buy anything.
And I'm still not adding to IIVI.
Right now I'm just thinking all PR's before the annual meeting may not be from the company...
I can't believe Davidson would have this much effect - I'll have to go looking for the report.
No unusual options activity today.
I like the "personal responsibility" the poster is taking for their own purchasing of CREE stock.
The poster has a future in politics.....anything bad is never their fault.
I'm well underwater on the shares I still own.
Poor mgmt concentrated on entrenching themselves more that execution. Including making it more difficult for someone to buy CREE - mgmt's payoff will be huge.
There was so much potential here....it's kinda sad really...
I don't think that makes sense.
Any the current mgmt won't do it because it's too easy to follow accounting wise if nothing else.
I mean it would make more sense than another aquisition - but that's not a very high bar to meet!
Let them set on the cash until someone comes along to manage this company that will use it for R&D, existing products, etc. and NOT another aquisition.
I'd guess another buyback would be undertaken first - it worked so well last time.
Let them attempt to run the company - they aren't doing so well at that. Don't distract them at all...
FYI I'm still not adding...
But expect anything they can grasp onto for a PR before the annual meeting will be starting to trickle out soon...
Lets make it impossible to compare the past 5 years by division!
Hey - wait - lets go BUY something!
That's worked so well these last many years!
Seriously EXECUTE and the accounting will take care of itself!!!
I believe Mario is still involved.
I'll have to look but I think I got some at 19.71 or 19.72 late day. I remembered to do "all or nothing" this time!
I get a buck or two out of these shares I'll punt them. I still have a decend sized long position.
Close his short?
Yahoo finally had enough?
I don't think he actually had an investment long or short. Just a blowhard that hated this company. Maybe his daddy was fired from CREE and mommy took the keyboard away?
Made this MB tough to read with him and way back his antoganizers, until you placed them on ignore.
I still have some shares long. Not doing anything though - adding shares or writing calls at this point.
Tomorrow may be an entertaining market day to watch.
My last post was incomplete.
I may buy at 12.00 sell a call for 2.00 and that call may be exercised by someone at lets say 1.00 which means I'd only make 1.00 on a 12.00 0investment in 60 days in round numbers.
However if IIVI goes up significantly - I have more than enough common shares to be happy - even if this particular trade doesn't do so well itself.
If IIVI goes under 10.00 I own some trading shares at what I'd consider a good cost basis.
Remember this is just a nimble trade for me, not a major investment.
Then again I don't have to do anything..and often the options spread makes the common stock bid/ask almsot look reasonable.
Nov OE should be after the next ER and annual meeting.