Late Update

Been busy all day with off-site meetings. Just got home after having some good Mexican food. Anyway, here's the quick update.

Before I left this morning, I put in an order to sell some covered calls. Of the various orders, one of them hit. I sold March 35 calls on the TODCO (THE) position for 0.70. This is the second round of call selling on the shares, and so effective basis has now been reduced to 31.44. I continue to hold onto my cautious stance, and I will sell calls on other positions if I see a decent opportunity to do so.

Linear Technology (LLTC) was the standout performer today tacking on nearly 10% after its peer, Analog Devices (ADI), reported decent earnings and predicting stronger sales and improving industry trends.

SanDisk (SNDK) fell a couple percent after WR Hambrecht downgraded the company to a hold citing potential issues with royalty revenues coming from Samsung. While I'm fully aware of the risks involved with holding the stock, I think the potential reward could be pretty amazing. Obviously, my feelings on it goes strongly against analyst consensus.