KLAC 1.15 to 2.50 (55 puts)slightly more than double baggerWhat a 3:40 rally really means.. well its us short covering and with some luck it might last through tomorrow 10:00 where professional shorters will get going again. That's why earnings plays are more predictable and won't keep bouncing around all day.
We did cover tech shorts and some might have made it into XLNX, and/or KLAC suggestions only because KLAC hit a low today and the 55 puts went into strong profitability so the 5 minute chart popped after the cover. As usual I didn't see a need to do more than cover the short position. Some folks see dead people, I just see dead stocks.
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