Tracking a Trio of Trades

One of my plays recovered a bit and one did not. If you were willing to hold your nose yesterday, especially late in the day, you were rewarded with a great bounce today for Infoblox (BLOX). I pushed my position, although not without breaking a bit of a sweat. We got the bounce this morning that I -- along with many other buyers -- was waiting for yesterday. Therefore, I have moved forward with closing my positions both on the stock as well as covering up my short February $17.50 puts. Those puts were repurchased for $0.65 after being sold for $1.20 yesterday. I did add some March $17.50-$20-$22.50 call butterflies for $0.45 as I believe the stock could become range bound here for the next three to four weeks.

Rackspace Hosting (RAX) has not bounced in the least today. There was a little flutter higher in the pre-market, but the stock immediately sold off upon opening today and  broke its 52-week low. The break of the low brought aggressive selling, taking shares as low as $31.40. After losing almost one-fourth of its market cap in the last day and a-half, RAX has only managed a bounce of 1.5% off the lows. I still don't expect it to break under $30 without seeing a bounce back toward $33-$34 first....210 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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