<add to your positions on the way up?>
Added AMAT at $15.50 and KLIC at $4.60 today, as my next limit buy orders were filled. Yesterday, added GE, BA, ASML, and KLIC. As I posted on the Full Disclosure thread, I've gone from 100% cash and short (on 9-4), to 41% cash, 59% long stocks, and 0% short today.
The SOX found support at the 330-334 area, in January, March, and July this year. That support line, now broken, is the new resistance line. We came right up to it and stalled today. I think we need to get above that line, to be bullish. We could easily stall here, and head on down.
I'm in no hurry to buy more. My default position is to leave all my limit buy orders in place, watch alertly, wait for them to fill, and do nothing if they don't. However, I may buy a bit more ASML and/or KLIC tomorrow. If we establish a trend of higher highs and higher lows for several days in a row, and the SOX stays above 330, I may add a bit each day. |
