GRMN gets lost

GRMN reported good earnings, above estimates by experts. Unfortunately someone let GRMN talking heads speak on a phone call and they came out saying something about higher costs and lower sales in the future. The result, I bought a put with my last dollars.

Though it’s stupid to jump on the bandwagon, especially since the market isn’t as easy to predict in direction like it use to be for the last year (when you were right if you guessed things were going up). But I took a chance and will probaby get punished for it.

Buy:
GRMN Mar08 $70 put (GQRON), 1 @ $8.60
stock price entered $62.90

I’m going to watch this and probably make it a day trade, protecting myself from a major loss.