So, at almost $12.00, I might hesitate opening a position. One way to attack the problem is to write out-of-the-money put options, but buying on a dip is likely easier. Pick a floor, put in an order and wait it out. If P never dives again, there will be plenty of upside to support an entry on the way up.
It's just a developing story. It's long-term. It requires patience. It's not going to happen overnight, but, when it does, the believers will crawl from the woodwork.
--Written by Rocco Pendola in Santa Monica, Calif.
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