Marvell Technology Inc (MRVL)

[SyndicateTwo]

You might just get that starting tomorrow. The futures are ugly right now with the NDX futures down 14 and the S&P down 11. That means the DOW tomorrow could head down over 100 points.

You'd expect that with the clear reversal at 14,000. I personally think that the next few weeks or even month or two could be trending down.

I think MRVL will trade down in the 2nd wave here which at the low will see no lower than $17.50, but most likely somewhere around $18. Too much technical 'stuff' has happened on this rally. Every resistance level has been broken on great volume. That means true buyers. Now, they'll simply pullback their buying, let the stock along with the rest of them fall back without thier support, and allow them to re-buy the remaining stock they need for their 'line' at lower prices.

This is how the market works. It's also why I shorted the $20s. On this next pullback, I'll jump in with a short on the Nov $17.50 puts, or even the $20s.