This may be a little hard to believe, but the past 2 weeks have been the first “real” vacation that I’ve taken since retirement.
That “retirement” was about 6 years ago.
While I have gone away during that time, including a nice trip to England, at which time I had the good fortune of surviving a heart attack, I never had my laptop away from my side.
My wife still jokes about how I was unplugging monitors in the hospital to plug in that laptop and cellphone.
I don’t find it as funny as she does, however.
One of the really nice things about having pivoted away from the old subscription service (I can’t use its name for a year) is that I don’t really have any obligation to write something every day.
And so, I didn’t for the past 2 weeks.
What I didn’t count on, though, is that while having a wonderful time, with my laptop and cellphone always still by my side, was that I would spend so much time trying to fight against hackers, mostly on the old site, for which I still have rights until the end of March 2017.
Those hackers put this new site off-line, but only for a few hours, last week, as well.
Things seem to have stabilized and it looks as if they, or their sniffing algorithms may have given up on me, because I was always able to get the sites back up pretty easily.
But the ordeal wasn’t quite what the ordeal would have been had people been paying.
No articles and no web site would have been a bad combination.
Still, what there was, was plenty of opportunity for trading, even from the beach.
Now, a word about one of today’s trades.
Abercrombie and Fitch.
It goes ex-dividend tomorrow and it reports earnings the following day.
The idea with today’s trade, on a day that retail is doing terribly after Target’s earnings were released, was that by selling a deep in the money call, there was a chance that someone might exercise their option early to grab the dividend.
That person would then either sell the shares to avoid earnings risk or mitigate the risk by selling their own calls; or even let it all ride.
Based on how retail has been doing, letting it ride seems risky, as is the initial Abercrombie and Fitch trade this morning.
It does differ from the very recent L Brands and today’s Target trades, in that they came after abysmal earnings related results.
I’m hoping that the Abercrombie shares do get assigned early, but if not, there is a need to be prepared for some spasms and a need to ride things out.
If you have been following along with some other trades with very short-term horizons that have moved the other way, such as those “DOH” trades on Cliffs Natural, Freeport McMoRan and The Gap, you’ve seen that riding it out can actually be fun and profitable.
I would mind adding Abercrombie to that list, but I also wouldn’t mind just seeing it be a quick hit and run position while being able to maintain my cash position in the 20% range.
Anyway, it is good to be back in the La-Z-Boy and it was especially good getting a chance for my family to all convene in Alabama to watch my youngest son graduate from Warrant Officer School as he gets ready to begin his Blackhawk helicopter training.
I can’t wait for that graduation, but I probably won’t wait 5 years for another vacation