CMCSA profit increased 28% and earned 19 cents per share. That was in-line with estimates, but the street was hoping for more. CMSCA has taken a beating this morning, down nearly 6% at one point. This might be a short-term dip though. Revenue is still expected to grow by 11%.
Checking out the chart, I see CMCSA gapped down below it’s 10, 20 and 50 day moving averages, but is still above its rising trend line of higher lows. If CMCSA goes as low as 26.50 (26.90 as I write this) and holds, it could come back strong in a fairly solid move. The naked put premiums aren’t quite high enough for me yet. I put an order in for 4 Sept 25 puts @ $0.75, $0.30 above the current ask. The better move could be to buy calls in a little deeper dip. Even a Sept 27.50 covered call could work. 25.83 and 26.00 have been the two lows since the beginning of May and the third time down there could another good support area. I haven’t picked my price yet, but will watch closely.
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Kadena sent me this email which I have to post for him since my “Leave a comment” isn’t allowing readers to comment still.
Hi, how about the 311 point DOW plunge, Friday should be interesting.
If you get the chance, wanted your take on ETFC stock price expectations in near term, 3 weeks. Next 6 weeks look on USB if possible. Thanks a lot.
You are right about all the cheating athletes. Take back their paychecks!