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Zeev Hed

02/03/06 3:33 PM

#454993 RE: Zeev Hed #454989

Covered the CNXS short here for a little more than a half bucker.
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ayahuasca

02/03/06 3:34 PM

#454994 RE: Zeev Hed #454989

I'm just looking for a quick relief bump on this at the moment. I got the March 17-1/2's for $2.55, which was pretty close to intrinsic price (only about $.20 premium).
Before buying I took a quick look at their report and saw that the earnings miss seemed to be a temporary issue dealing with the repatriation of foreign cash, and that they beat the revenue number. That plus the support on the chart was good enough to enter a short term bounce trade. I may pick up shares or longer term options once it settles into it's basing mode.