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ouch

godspeedj posted on 05/06/08 at 12:01 PM
Well I got KILLED on sncr earnings today....good thing i did not have a major investment in the company. However, seeing as how badly the stock got ripped, the question is do i double down at these lows prices (do I still believe in the company's fundamentals), do I cut and run, or do i hold for the long run and recovery......leaning towards a double down because, yes, the call and guidence was awful, but this company has no debt, 100mil in cash, plans a buyback, and, well, a 45% haircut is just too much. don't get me wrong, this stock deserved a trimming 15-20% maybe, but 45-50%? Come one, this market is just so emotional.
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Posted by godspeedj on 05/06/08 at 12:01 PM

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pretzel

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pretzel
Posted May 06, 2008 (01:31PM)

That's kind of bizarre.  I'm only showing that kind of drop in after hours trading, which i wouldn't normally worry about, but in your case it was a volume of 3 million shares(5xs normal) and about 1/10 shares outstanding according to marketwatch.  Maybe there was a delay in trading?

Not sure what that will mean tommorrow morning.

Good luck,

G

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Haymore

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Haymore
Posted May 06, 2008 (02:01PM)
No, no, you have this market figured all wrong.  For the stock price to go UP the company needs to post a loss with a BIG writedown - see FNM and DHI as well as most of the financials.
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WallStreetKing

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WallStreetKing
Posted May 06, 2008 (07:08PM)

I would like to know why that pattern happens. when searching and looking at different companies stocks I see the downward spikes, most are in after hours. then the next day, open up like nothing happened, but yet the visual reprensentation of catastrophe is apparent by the spike. Hoping this opens like nothing happened for you.

Also, Good Luck

PEACE

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ivestor

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ivestor
Posted May 07, 2008 (03:54PM)

if you still like the company, I would consider buy sept 22.5 put for $10 and sell 17.5 cover call for $1.05. you are protected on downside. if sncr does not recover in sept, at least you can sell it at 22.5. with all the option cost, it is still $.50-.60 more than the price you can sell today. if sncr goes up to 17.5, stock is called out but put option still worth $5, so 17.5+1.05+5 = 23.55. you can almost recover all you money.

good luck. 

 

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