The stock is approaching resistance, and April options are reasonably priced.
It prepares an IPO of a noncore division so it can focus on its industrial businesses.
For all the negative talk, many stocks in the China region look healthy and buyable, raising questions about the legitimacy of this downswing.
We would be inclined buy premium to protect a long stock position.
Here's a quick technical profile of AAP's new biotech holding.
Ciena has settled enough for us to start buying again, and Goldman is down today.
With the shares stabilized, we'll improve our cost basis and build this position back up.
This recall is an easy reason to sell, but we still like the restructuring story.
The shares should recover to the low $120s.
Big players will watch for confirmation of a larger-scale commodity decline or a ninth-inning save and rapid recovery.