Nazdaq and sox sinking, that's nearly 50 in two sessions, BRCM, AMZN SMH CSCO MXIM KLAC 2 day new lows. Hope everyone was careful to get out before this massacre. Nice gains for a few sessions but now there is a chance to buy them lower than before (if you want them) Some traders long SMH from 37 and actually advocated not taking profits when it was 38 but rather watch it drop to 35.50! Careful traders and don't get stuck with the anguish of misinformed and ill-advised trading advice. YHOO is nice but only AFTER the move down and here also the 35 or 40 calls might be okay but not holding through 2 days of gap and pullbacks!
"WE'RE LOOKING AS SWEET AS HONEY RIGHT HERE.
I wouldn't mind but there is no room for 'maybe' or be cautious. QCOM good buy 71 after 73.33, down to 71.37 and there are much better plays out there like shorts for example.
KLAC---49.95 THE BTL---48.85 THE SST---I AM LONG AT 49.23 AND THINK IT HAS A SOLID SHOT AHEAD OF EPS DATE FOR A SPECTACULAR RUN UP TOWARD 55/56
Well if we are I'll buy the pop and not hold through downside.
BRCM---47.10 THE BTL---46.05 THE SST---SENSATIONAL RUN UP SO FAR AND GOING HIGHER TOO I AM LONG AT 43.31 HAVE NO REASON TO SELL IT EITHER.
Well I'm thankful I didn't hold BRCM for more than the 2 points I got, and short, short short maybe to buy back in the 43 area or lower and even then for just another trade. To be long from 43.31 and to watch it move to 47 and still hold it all is against all the trading principles in even trading 101. Look at the 2 day chart for BRCM, not to mention AMZN, SMH. I smell napalm burning and I'm glad I'm safely away. Look at the break of SMH at the spinning top at 38, a clear sell signal! Watch what you read traders, I'm going back to lurking but the advice from this particular trader is a contrary indicator and has been for 6 months. I like BRCM maybe at 43.50 to 44 with the 45 calls for July again only to sell after a solid gain.
QCOM---73.55 THE BTL---72.30 THE SST---IT'S HEADING TO 80ISH IN THE NEXT 30-60 DAYS. I AM LONG EVERYTHING AND NOT READY TO SELL YET. We don't even mail out the newsletter anymore, not wanting to give this advice to our colleagues or even our competitors.
Good Luck!
AI
