Hi Zeev,
Are you refering to MLOG or the market in general? If you think the market is heading down over the next 6 months, then I'm in total agreement. In fact my entrance into SI in July, (where I introduced myself to the EXSO thread) was triggered by my interest in moving out of my broad mutual funds, asia/pacific funds, and MSFT. As a result, I'm 20% - 30% in cash now. At this point small caps are vulerable too, and I'm definitely looking to take some profits off the table. Its tough to do (psychologically) when they keep beating analysts expectations and have a growth rate higher than their P/Es.
Use www.quote.com to look at the last MLOG trades of the day. In the last 5 minutes a 3000 share buy, and 3 1000 share buys all occurred within 3 seconds. During the day, the MMs moved the bid down on small sells, but were reluctant ot move the ask down much. As soon as a buyer appeared, up went the ask to 7 5/32 then to 7 1/4.
Volume is still kind of low so its tough to discern a trend. The trend should emerge next week. By then, of course, if news is not good, the bid will be back down to its resistance point of 6 1/8.
MLOG has done everything right to position themselves for long term growth. Hopefully, orders for their products, services, and technology will give then a steady backlog and bring their P/E up to industry average.
Wish us luck next week !!
Chris |
