AI
Wednesday, February 25, 2004 2:42:49 PM
ADSK exploded right in the 25-25.20 area where we suggested. Its about time. (right click on the chart, click on "properties" and see the name we gave the file!)We did get some early short on this before finally recovering.
INTRADAY UPDATE on ADSK sent to members: (that takes care of the last earnings play "The Little Engine that could... finally did"
ADSK is awful and this despite preannounce of increased earnings the run up was 2/5 to 2/12 a bit earlier than normal and selling big before a known good earnings report. If guidance is strong this stock will soar, Intraday a short from the 26.20 area (anywhere below the spike high and above the declining 20 ma) however I do expect an earnings run even in ADSK in the 25 to 25.20 area.
Straddle would be okay March 25 calls, no rush but I wouldn't leave tonight without them,
ADSK is still squalid chart. Did go long the March 25 calls simply because they were trading at a discount $1.25 from the $1.50 open.
INTRADAY UPDATE on ADSK sent to members: (that takes care of the last earnings play "The Little Engine that could... finally did"
ADSK is awful and this despite preannounce of increased earnings the run up was 2/5 to 2/12 a bit earlier than normal and selling big before a known good earnings report. If guidance is strong this stock will soar, Intraday a short from the 26.20 area (anywhere below the spike high and above the declining 20 ma) however I do expect an earnings run even in ADSK in the 25 to 25.20 area.
Straddle would be okay March 25 calls, no rush but I wouldn't leave tonight without them,
ADSK is still squalid chart. Did go long the March 25 calls simply because they were trading at a discount $1.25 from the $1.50 open.
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