By | January 25 2010 11:14 AM

Atheros Communications (ATHR) reports tonight and I'm going to cut the position back to a 0.5% stake ahead of the knee jerk reaction.  I expect good things but at 30x earnings with high expectations and a market that has soured I have some extra reasons to be cautious.  As opposed to selling, one could always buy puts against their long equity position.