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Still like my SBL for a swing trade, and just picked up CSCO at $17.85 for a 2-3 day hold. Looking for $18.60 on that one to form the right shoulder of the pattern playing out.
I think we bounce for a couple days, then begin a a quick selloff starting next week that really only lasts for about 7-8 trading days. Call me crazy, thats how I'm playing it. Reallocating long funds into tech land across the board once SMH hits low 29's (my target last week of July). We need to get the bears on the cover of newstatnds again...
No covering FFIV for a few weeks. I like the $30's, which will be my best short this year..
I have not followed them at all, but unless there is some company specific event preventing them from joining the rise (ie dilution), they should fair well in the next month as well. I think this is a great buying opp for all the RFID plays.
SCSC is a tell also. Expects higher sales/RFID segment. Up 7% today.
ZBRA posts earnings in 3 weeks. I'm hearing RFID has really taken off this quarter. SBL will benefit from this report too..
Long SBL at $10.20. Looking for $13+ by next month after earnings.. eom
:) Soooo EASY. Like taking candy from a baby. The chart said it all. Major distribution voluma a few days ago on the backs of several upgrades by analysts that I wouldn't trust...
Hope no one has OPWV --- Yikes!
FFIV - 54.15 short eom
FFIV looks ready to implode. Will be taking a short position tomorrow....
Hope you got out of this one last month...
We are hibernating in our depression (LOL). More down to come, and now the SMH has a triple bottom to deal with soon once we hit $30..UGH...More down to come...
Call me paranoid, but looking at the NT volume yesterday, I think all of thier skeletons may not be out. Next Enron maybe? That would shake the markets up a bit.
Didn't want to be cought in the mid-quarter update for XLNX with my short, but the weekly charts said DOWN. And of course after I covered, down she goes. LOL! Oh well...
Nice going WAHZ. Let's hope it sticks. There is no triple bottom on the SOX to contend with. This would be a very nice spot to chug up for a long time now...
The two did it to me again. Covered XLNX for $.10 loss and FFIV for $.30 loss. Trying to go short for the final low is too hard. Will wait until tomorrow however to go long...
GL All
And now I'll recheck my screen...(LOL). Still think we sink at eod..
Recheck that screen of yours...
Short FFIV at $46.45 eom
OK. Let's see how this all shapes up now..
140M shares traded on the Cubes and the trading day not even half done yet....WHEW!
Lunch bounce about over...
Yes. I concur with that. As far as where to park the money, it's based on your risk tolerance. Park it in an index over the next week at least. Both NDX and SMH shoud be pulled up hard...
I'm lookiing at NVLS again, AUDC (finally filled a gap I was worried about from months ago at $11), PMCS, and BRCM. High beta stuff for me..
NVLS will give away most of it's gain today. I'll reenter there tommorrow for sure...
I think we continue the melt down today (maybe small lunch bump, but then down), and get a little lower in the AM tomorrow. I plan on positioning longs tomorrow after the first 1/2 hour trading. Looking for 2085 on the NAZ...
Sold NVLS for $23.87. Too much profit in one day. Reshorted XLNX at $25.32. The daily chart says down to come in short term.
All I can say is OHHHH YEAAAAHHHH!!!!
I wanna see a close on the low today to get the bear blood pumping out there..
I'm actually quite pleased with this outcome today, although I'm on the wrong side of the trade. The SMH and SOX no longer have triple bottoms to contend with now. All it takes is this to get us up and going finally. I'll stay with the long crowd now for quite some time...
The NDX as an index might fail here. And MSFT looks to be going lower. But I think the midcap chips may now be safe and THE PLAY for the remainder of the year.
BTK should make one more fast breakdown (not enough to take out the lows) and up and away too. SGEN causing heartburn, but DNA about ready to make up for it...
I haven't taken on shorts as of yet. This may be another whipsaw waiting to happen to the bears tomorrow morning. At this point, I'll just hold on to my longs. Made plenty of $$ on my shorts to provide myself a cushion here...
Looks like I got whipsawed this morning (LOL). May have to take on some shorts later today...
Spoke to early. Indications are now showing a possible bear trap that has legs..Covered XLNX for a small loss.
The triple bottoms can be resolved later in the month. NVLS may have some legs here...got it at $22.85 eom
Hope everyone has thier shorts on for this final leg ;)
Hope your protecting yourself out there.....
The close I expected. Selling hope...
I could tell ya, but then I'd have to kill ya (LOL).
I really just look at support lines. If something gets hit 3 times, I believe it will fail. With DRIV, that was the thinking. It was knocking on the $43's too many times. Just got lucky to short it at the rise before it got crushed. No triple bottoms allowed...
Look at XLNX it looks like distribution volume on the last rise. And it wants to knock on $25 again, which would be three times. No way jose, going down... (IMHO)
Then look at SMH. It verifies my thinking on direction for XLNX. Knocking in this area 3 times in the last 3 days. Bye..Bye chippers. Friday/Monday should be a good day to go long for a week or two...
Sorry... FFIV.
Short FFI at $48.50. Target $44's. EOM