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Little Willie Says "Hi"


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FWIW

 

CFRA is out with a negative report on ELX (Emulex) that states that the company is deriving a significant portion of its operating cash flow from non-operational items. Earnings have been artificially boosted by; drop in depreciation expense, reduction in effective tax rates (from 38% to 34%) decline in deferred revenues, drop in warranty reserves and aggressive accounting for foreign exchange reserves.

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Rog thanks for the heads up on ELX I rode that POS down last year from upper 40s to 20 sold a few days before they gapped down from~20 to 13 if I recall, cant believe that it ran all the way back to 25, was chapped I missed shorting last week at the top, will give them another look ...always knew something just wasnt right with them! TRADE SAFE

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Rog, do you think it's worth taking off COMPX shorts despite the very low total put to call ratio given MOT's expected report tonight? Or, do you think MOT has already been baked in?

What's good for MOT is bad for the rest of the mobile phone makers. Its a matter of gaining share, not an expanding market. I am long a couple 100k shares of MOT to flip if they beat. However I don't see much other than a one day pop in the NDX off of MOT.

 

I am concentrating more on Doc's cmaps than any individual company results.

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