AI
Friday, December 12, 2003 4:22:20 PM
ADBE double bagger in 40 calls but a short at the gap up and the 40 puts although, of course not profitable only down $0.30 to $0.50 so they didn't erode completely as we expected. All in all we milked ADBE for 7 sessions first a small long (then we lost $0.25 on the 45 calls because of a downgrade 
undeserved.... in my opinion, but we went short until yesterday morning where we reversed on an earnings newsletter expectation of "anticipatory upswing" which we got in spades!! until this morning what is ironic is that we got approximately 3.5 points of upside which was similar to what we got last quarter and almost similar prices! We have the experience of playing at least 75% of the same earnings plays for 6 years! About 25% new ones get thrown in every year. SNPS and ADBE were 3-4 week plays playing BOTH TRENDS.
THE DOWNSIDE
THE UPSIDE
undeserved.... in my opinion, but we went short until yesterday morning where we reversed on an earnings newsletter expectation of "anticipatory upswing" which we got in spades!! until this morning what is ironic is that we got approximately 3.5 points of upside which was similar to what we got last quarter and almost similar prices! We have the experience of playing at least 75% of the same earnings plays for 6 years! About 25% new ones get thrown in every year. SNPS and ADBE were 3-4 week plays playing BOTH TRENDS. THE DOWNSIDE
THE UPSIDE
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