ALTR, QCOM, NVDA, AMCC, XLNX, BRCM, BRCD, SEBL, VTSS among my choices for shorts as soon as the "Hey did we miss the boat as these move up, herd effect is over?" You won't miss any boat, you can buy and might even hold these a number of reversal periods until one or more hint at more pre-earnings warnings which will begin in just a few weeks. They are not earning more they are just attracting those traders that are afraid to Miss the BOAT that everyone seems to be talking about. You won't miss the boat because these stocks are likely to move down as their valuations are starting to peak again and reflect non-existent earnings acceleration. Of course you might miss a few days of rallying, but not to fear, they will provide short opportunities soon enough and for you longs, you are not too late, the prices will be shot down as they are shorted once again. Its not to say they will never recover but why pay NOW for a recovery that might take many months? You are paying for "wishful thinking" earnings prospects that ironically are already reflected in the stock prices.
My favorites in this "deal" are still NVLS, KLAC, INTU, AMAT, ADI, QCOM and for "bottom fishing" CREE, HLIT, MANU,APWR.. and other 'depressed' companies. Am I looking to get in now and hold the supposed earnings that will be in 3 or 4 quarters, nope. Just playing the GAME same as many others while looking to accumulate companies with upside that have proven themselves the last few quarters. Still no position trading, just up to 7 or 8 swing trades but not seriously accumulating in the tech sector.
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