Marvell Technology Inc (MRVL): FYI - SIGM I had not been following S...

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Friday, 03/14/2008 11:21:49 AM

Friday, March 14, 2008 11:21:49 AM

FYI - SIGM

I had not been following SIGM until someone mentioned it to me yesterday around 11:00am.

When I looked at the chart I almost skipped a beat as the stock seems to be a perfect buy right around $20. When the stock was brought to me the stock was "already" trading above $21. Had it been brought to me before the opening or right after, I would have bought the stock with open arms at 20.10.

I will probably put out a buy mention on this stock this weekend, depending on what it does today and where I feel I can get in.

The 200-week MA is at $20 and the stock also has a very strong support level at 19.77. When you put those two together, it makes a powerful combination. When you add to that the amount this stock has fallen, it just adds more fuel to the fire.

There are two clear objectives that I see and believe can be reached.

The first one is 29.12 and the second one is 32.57.

Since I have seen SIGM mentioned here a few times, I thought I would comment on it.