Buzz Bits: Dow, Nasdaq Move Up
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Do You Yahoo? - Todd Harrison - 3:45 PM
- While I have no position, Yahoo trades like someone is gonna make a run at 'em. I haven't heard--and I don't know--anything but this is "takeout Friday action" from the old school days.
- I know, the S&P trades like someone is gonna take it out too, eh?
- Homie is back in the QQQQ March 49 puts, scooping another 25,000
- I'm more tired than Charlie Mangano's wardrobe.
- Have a fantastic night, Minyans, and be good to yourself this weekend. You surely deserve it!
Bell Buzz - Todd Harrison - 3:31 PM
- We just saw an odd-lotter scoop 50,000 Yahoo Jan 40 calls at .73 (outright buy).
- I see (and respect) the action and, while we openly noodled what would happen if the financials found a bid, I'll again offer that there is a disconnect between perception (worst is behind us) and reality (there are alotta skeletons that have nothing to do with Halloween). Headline risk remains but the reaction to it remains to be seen.
- How do you play--and define--your risk? Depends on how you're swinging the bat, cookie. For those banging with Boo, the S&P double top is a huge technical ace up the upside sleeve.
- Will it hold overhead? Tell me what the dollar does and I'll have a much better sense on that question.
- You a horse racing fan? Don't miss Pepe's Pony Picks!
- This week's sign that maturity is upon us? I used to look forward to weekends to run around and belly up. Now? To breathe, practice some plain vanilla yoga and yes, watch my Raiders. Hey---leave me alone on that last part. Bad seasons define good fans just as bad times define good friends.
- Discipline is my friend, as evidenced by the opening fade and subsequent trade.
- Deep breath as we bring it home, Minyans--and remember that the risk profile you go home with is the same one you'll awake with on Monday.
- May peace be with you.
About VDSI - Sean Udall - 1:15 PMI know I didn't like VASCO Data Security International (VSDI) before earnings and I'm mad I didn't short it ahead of the call. At this point, it's hard to say if it's a buy, sell or hold. What I would say is that I think there are many names that are less risky and have a lot of upside I would rather play in. Also, if you want something with a similar risk profile I would gravitate to Riverbed Technology (RVBD), Compellent Technologies (CML) or Infinera (INFN) at these levels over VDSI.
About VDSI - Sean Udall - 1:15 PM
I had added both RVBD and INFN in recent days, though I do scalp trades on INFN quite often (always on the long side), as they tend to bounce well off big down days if you give them a 1-3 day time frame. From a core position standpoint, I plan on owning some INFN for some time. The main thing I like about these two over VDSI is they are operating with quite a bit higher quarterly sales base than VDSI. As for CML it's doing the normal IPO sell-off given general market weakness since they started trading.
Speaking of INFN, I thought it crushed the quarter and it was somewhat misreported. Barron's did a feature on this issue.
Back to VDSI, any stock that has moved this far down this quickly could always bounce. The company did affirm its number, but I haven't listened to the call to gauge tone. Mainly its story is just one of the stock getting too juiced over the last few weeks/months and unless it crushed the quarter it was going to get crushed.
It is on my radar screen now again though, as the sell-off could offer a good technical entry in the future.
Position in RVBD, INFN and CML.
Mini Randoms - Fil Zucchi - 11:25 AM
- Once again, my foray into Forex was met with total defeat. I suspect I was not the only "contrarian" out there betting on at least some kind of dollar rally. I just saw a bunch of stops at the Euro 1.44 level get taken out. I continue to think that with every tick we are getting closer and closer to the beginning of a waterfall decline in the dollar.
- Please see the more than 50,000 Halliburton (HAL) Nov 45 calls traded, against Open Interest of 2774 contract. Most of today's traded have been on the buy-side.
- Will Covidien (COV) 4-7% increase in the prices of diapers and pull-ups fall under the ex-food & energy category?
- Is this an ominous broadening top? Does it need one more spurt higher?
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