Sr K, now let's see your Sr forecast! Who are you anyway? Can't remember that I've seen you post here before. Care to tell us who you are and what's your opinion on LSI?
I have no problem with LSI or semis long term (2 yrs) or medium term (6 months) because I believe they will be making $2.50 in '00. However, for the next month, especially the next week, I think LSI's direction will be guided by the feds and the feds only.
Between now and Oct. 5th, it should jitter up and down - nice for traders who have the stomach for it. On Oct. 6th, IMHO all will depend on what the fed do. Raise 1/4%, all hell will break loose. Lower 1/4%, or even just statement that the interest rate thing is done for now, the whole market will rally and I look for LSI to go right back up to >$60. If feds fo nothing but state they will be 'looking at this closely with the intention to raise', it will be trader's haven till the next fed meeting.
patrick
PS For declaration, I turned into a very/extremely trader at the end of last week and picked up 1 3/16 point on one go-around. Intend to just sit for next two days - market/LSI way too scary for me now, short term risk/reward not favorable.
If my third scenario from above goes, I intend to go right back in and short term trade again because I believe LSI's fundamentals are strong enough that there is no medium or long term risk. Just don't play with money that one will need in a months time or less. |
