OK, I’m so sorry I missed this one. It was on my list of things over the weekend and I just forgot…
Well, that and $4 will get me back the day I missed on OSTK, a poor man’s Amazon that is still $37 off it’s high of last Thanksgiving.
I don’t like the company, I don’t like the web site, I really don’t like their financials, I don’t like them whining about how people are conspiring to lower their stock price… but I will be buying some tomorrow due to the intense momentum I am seeing.
Someone else saw it too because on November 7th Director Jason Lindsey loaded up and bought 20,000 shares on the open market for $33.50, there’s an insider you want to follow!
This is not a game for the faint of heart but, since the last two days action have taken everyone (except Lindsey) by surprise, there is not much premium on the Dec 40s (just $1). If this holds up tomorrow, I will pick some up because this stock was very heavily shorted with about 10 days to cover and the $10 jump in 3 days has got to be killing the short players.
This is very speculative and I could be dead wrong but I also could be looking at another $5 move in the price which would more than double my option.
I will call this my restricted* Trade of the Day due to it’s extreme danger but I really think that the momentum on this one is not going to reverse quickly. Refer to the comments on this article for a blow by blow in case this turns ugly!
*restricted to a very small gamble with your finger on the sell button, you cannot leave this trade alone and, even if you watch it, it might rip your investment to shreds
