George, COST- I am surprised that you are buying calls on COST. I wasn't clear from your report when you bought them. If was before today I would wonder why you would hold them through earnings. If you bought today, I would question what you see to give us a bounce. COST fell pretty hard on strong volume. It looks like the market action reversed it under support versus the stock itself. They slipped past the November low.
Fundamentally COST reported an increase in revs of 10%. They reported a 21% jump in earnings. Although the raw numbers show this, they also had more shares this quarter than last year. Real earnings per share were up 18%. I am surprised (not really)that they would report the 21%. I also noticed that they rounded up the less than 39.5 cents a share to the higher number. They did this on the other side as well. I guess they wanted 40 cents and over 20% growth real bad. Enough to fudge the numbers a bit. COST looks like a better short to me. Thanks for the nightly recap.
Hi George, yes I had a fine day, hope you did as well. George I thought it was just me until I had a look at the closing internals for the day, and there isn't one bright spot among them pointing bullish for the bounce today. I would say that what this bounce did was to allow more smart money to get out. The markets are poised in exactly the same perch for tomorrows open as they were for todays open with the exception that any slide could be hastened this time. It appears that it isn't a matter of IF it's when. Good luck.
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