Thursday's opening volatility and earnings misses by other companies caused two stops to be hit.

The earnings miss by Sketchers knocked Deckers to an early morning low of $81.50 before rebounding to close higher by $6.32. Unfortunately the morning dip hit our stop at $83.50 to take us out of the play for a small 30-cent gain. ($1.20 - 90) Sometimes things happen that you can't foresee and we have to take our lumps. A perfectly good position was knocked out by an earnings miss from another company.

The same thing happened with F5 Networks. A disappointing earnings report from NetApp on Wednesday after the close knocked -6% off NTAP and that carried over into a loss of $2.75 by F5. That was a clear case of guilty by association. We were stopped at $124.25 at the open with the put trading at $11.90. After subtracting the long put side of the spread we still ended with a $3.85 gain.

No changes for Friday.

Jim Brown



Current Portfolio




Current Position Changes


None


New Recommendations


None


New Long Term Recommendations


None - Waiting for a "real" market dip, not a one day wonder


Current Aggressive Recommendations


None