Now long AAOI, looking for a 10% swing and reassess. In for 500 shares at $29.10
therancher
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Next major support is @ 26.99, a close below and likely floor for next leg down is 27.26ish
therancher
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I would close out my position from jan 4 if I had one, or if I have been bag holding possibly average down (doubtfull). and hope for a bounce, but this has become a falling knife. next major support is 30.xx
therancher
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I should of added I hold no position but did the analysis for a very close friend.
N3utra
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The minute anyone decides to throw it in that's been riding this out for the 80+ days you're talking about (myself included) is the moment the stock decides to swing upwards. Incredibly frustrating trade to be in, but being on the losing side is never easy. Staying focused and patient. Hopefully, next week there's some early news during CES or something that gives some light.
therancher
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@N3utra, the writing was on the wall for this one. Sometimes I get it right. if only I could do it like this every time. GL if youre still holding.
N3utra
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@therancher, Thanks! I am. Between what OCLR and LITE reported, the sector looks good. MACOM reported and got caught with their pants down. Sector took a huge hit as a result. Their call bodes very well for AAOI though. They described what I saw at CES and are at least a full quarter behind AAOI. People took their results as a negative, but didn't bother to read everything I suppose. AAOI is in full control of 100G CWDM that they're just now realizing is what everyone wants. Stock will hit its 52-week low I'm sure. February 21 can't come soon enough for the added clarity. 9 days for shorts to cover. Time to grab some popcorn after next week for sure. Appreciate you putting this together.
therancher
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@N3utra, thanks for the info I know nothing about what the company does. I'll put together an update, after some research I may buy some calls. It looks like the pain could be nearing the end.