So much for a belief in justice and the fabled American system of governmental checks and balances; more fabled than factual.
After hearing a brief description of Judge Kollar-Kotelly's decision in the Microsoft case, I took off the play I described yesterday in the extended hours session. I did not get execution on the entire play, but got enough off the table to realize a (small) profit. There are open orders for the balance, which may execute Monday since they all closed strong. The sales were:
CORL (Corel, Inc.) @ 1.00
ITWO (ITWO, Inc.) @ .98
RHAT (Red Hat, Inc.) @ 4.64
SBYN (SeeBeyond, Inc) @ 1.73
If Zeev has said it once, he has implied it a thousand times: Trading is no place for "belief" (except, of course, in turnips). Trading is, like revenge, a dish best served cold. That's a lesson I'm slowly learning. This post and yesterday's are an object lesson. Fortunately, this one didn't cost me.
Learning is a difficult process. First one must understand the words, then one must understand their implications, and, finally, one must accept them.
Fred
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