Marvell Technology Inc (MRVL)

[SyndicateTwo]

Yeah, that's why it doesn't bother me down here. Today was actually very strong I thought. You'd think on such a huge support level breakdown, the stock would be in the $13s today. But it is holding that round number well.

With the futures tonight, I think there exists a very real possibility that we gap up tomorrow. That would leave an island bottom confirming in my mind a washout. The volume was only about 40 mill shares yesterday. The last CC was over 70 mill. That tells you again on such a massive support breakdown that the conviction was weak. So, it could be that because it never sold down on the $SOX breakdown that it was going to happen no matter what unless they suprised with big EPS.

So, all is well. I actually think that on a weekly basis, this channel was going to be a longer drawn out process than we all expected. That run to $36 had to be flushed out and I think we're probably at the end of this channel.