Graderist--We all feel your pain. I recently bought LOCO around $25, watched a quick run to $29 approaching earnings (I usually sell going into earnings if I get a nice profit before) and foolishly decided to hold. Now looking at a stock down over 20%. Yesterday I sold my PANW for a nice gain, raising cash for our next buying opportunities, and think there is still a good chance PANW keeps going on to new highs daily.
Wishing I had more. Traded out of most of my stock, but still enjoy any ride we get. If this move holds up, it brings much more attention to the stock and the company. There is pressure on funds to own cybersecurity companies, and it seems an obvious need for a portfolio in this environment. And they are going to have to pay up. Supply and demand are likely to override the worries about this sector being pricey for awhile.
Good chance to see mid $40s in the next few days.
I saw part of it and thought it seemed odd the way he went out of his way to say how wonderful things now are in the airline business, and how great it was that now the competition of yesteryear was gone. It was as if he created the appearance of a rosy business environment so that the specter of future competition would be all the more dramatic. And this all on the heels of several rosy articles about how the airlines look like a great place to be investing now, with LUV and AAL at the top of the list. I may be off base to include the writers of these articles as part of the set up, but then let's remember writers are paid to write their pieces. We usually don't get to know what the agenda is when they write an investment article, but I have to wonder.
The stock may get a little cheaper for two reasons. First, no one wants to catch a falling knife, so as buyers step aside it is very easy for the stock to be taken lower on even moderate selling. Second, it seems likely we will have at least some type of correction in the near future as the market takes a breather. I think the stock is cheap here, but am waiting for it to get cheaper before adding (soon).
John--Thanks for the laugh. I was considering a similar response and you saved me the trouble. I'm about to nibble a bit here at these prices, but think we are about to see at least a moderate market correction that will give us some better bargains. Buyers appear to have stepped aside for the moment, so it is easy to knock prices down.
Cat--I'm long but fear that you, like the company, are loco with the $29 projection. I'm guessing we will see the high $23s, and might bounce from there to high $25s. Hope I'm being too conservative, but I don't think so.
Shorts are not winning big. Most are long term and didn't take the opportunity to cover in the $13 range, and are now probably going to have to take a loss now or wait for a bigger loss. The stock is still much higher than recent lows, so as a long I'm happy.
Someone was buying it all day long. It is very feasible that it could get bought, but to me that's not a reason to buy, as it could take a long time or never happen. But if Cisco or another big player wants the fast growth of FEYE, they are going to have to pay for it. And remember, supply and demand are at least as important as earnings in determining a stock's price, as long as the company has rapid growth. Mutual funds are also going to have to deal with this issue. If they want leaders they have to pay up for it.
It is annoying. And we aren't even going to have average volume, which is also frustrating. I'm hoping we can get to the mid $40's in the next couple weeks, but we will need some help from upgrades or institutional buying. I was talking to a fund manager I know and he is short the market, not believing this will hold. I don't really either, so find myself waiting for the next correction to buy a few things or another surge to close a few positions. But at least we are well above $40 for now, which is good.
Hope you didn't sell the puts. VDSI looks like some bad news was recently released. Hard to buy when it keeps falling like this. AAL looking good today. I think it goes higher.
I'm hoping it doesn't pull back that much, if at all. I sold the Jul$70 calls for $7.00 a few weeks back. Looks like I would have been better off taking a modest profit a waiting. Airlines looking like a better place to be at the moment, as they are soaring.
About what I was thinking, but I'll go with $52 since it has already given some back. Hopefully it doesn't kill the whole sector.
If CYBR knocks it out of the park (baseball on in background), that event could re-ignite the sector. Of course,they can get away with some disappointment if guidance is very strong. If it isn't that strong, the entire sector will likely be punished further. But FEYE can only be pushed down so far, as they did perform in earnings and guidance. I'll be adding more shares either way, but just won't be as quick to do so if CYBR disappoints.
Hey graderist. I guess this board isn't as lively as FEYE. Hopefully the bleeding stops soon here. My profit turned into a flat position. I still think long term AAL will be fine. Glad I sold the May $52 covered calls.
The market was already considering whether the sector was overpriced after FEYE earnings IMO, evidenced by their unimpressive move post earnings. QLYS added to that doubt. No one wants to catch a falling knife, so when buyers step aside, the price falls easily. I love the company and plan to buy back in.