Seems the market wanted to see a lower price on the baseline iPad Mini. Not sure the market is right about that, as margins and earnings will be huge and the $329 is probably cheap enough to bring in most of the folks who were considering a crappy $199 Android tablet. How stupid does Softee look coming out on Friday with a $499 model how many years now after the original iPad came out at that price.
They gotta get a new CEO in Redmond. Microsoft’s $499 for the entry price for a tablet in year 3 of the cycle as driven by your competitor with a better product at $329 is not going to cut it. I’m wondering if some MSFT puts dated out a couple months might not be a bad idea as the downside if Windows 8 phones and the Surface don’t sell is probably $5 from here.
I am feeling bit whipsawed by all the wild action from today and from the last week even as I’ve been hedged and heavy in cash. But I am not going to let emotions stop me from trading, just as I strive to not let emotions drive any trading either. Emotions are the enemy and the market don’t stop to let you catch your breath.
Facebook is up after hours. I’m so disgusted by this stock at this point I can hardly look at it. That might be a contrarian indicator. Might not be though. I’m going to buy a little bit of FB common here.
I’m going to go on a walk with the dogs and get some fresh air.