grabbing more market share, Europe picking up more than expected, U.S. holding up better than expected, margins better than expected.... watch for some upward revisions ...of more than 7 percent... to earning projections.
Nice bounce today on earnings. Tough to make money shorting PCAR ... I almost did a long put/short call collar when the stock was $72, but I would have closed that position in the high $40s ... still smarting at the missed opportunity. I did write a few covered calls when it was up there. Not ready to employ that strategy again (yet), but we've bounced back nicely in a brief period.
Yeah, those darn stock splits! They just keep giving me more and more shares! Heck, folks who paid $112 for one share in 1997 would now have more than 10 shares so their cost would be only ten dollars per share and they would have made more than five times their investment - not counting dividends! That silly board of directors keeps reducing my cost basis! Heck, if you bought one share in 1975 you'd now have more than 40 shares, and a $10,000 investment on 1/1/75 in Paccar would be almost $1.5 million today (plus all the dividends!). But Mose never was much for cipherin'. He got his pension.