GROG, I should have said that shakeout is happening along with consolidation. There is a clear base forming in this stock. The day traders seem to have been shaken out, and the excessive short activity is coming to a halt. Not many people will have the guts to short this stock at these levels.
Unfortunatley, long time die hards like Marshall, Ibexx, Anatole Kulick, etc. have been shaken out too, at least that's how it appears. I am forgetting a couple of names who were very regular contributors, and we do not hear from them any more.
I have traded heavily in this stock after holding it for eight months last year. I have a core long position ( I have never shorted this stock), which I will maintain religiously, since it was bought at ridiculously low prices.
It is funny to see all the newcomers to this thread trash S3 incessantly, but they do not have the conviction to short it. Right now, I can easily live with the volatility of this stock. You will see this stock gaining momentum as Intel gets a lot of heat in core business. With AMD at a all time high, and CYRX breathing heavily with good products, with CPQ trying to break up INTC's monopoly, my reading is that Intel will have to at least slow down (if not abandon) their forays into small margin commodity chips, and concentrate on its core competency. Chips business is very fast cycle, and it doesn't take much time for today's stalwarts to be tomorrow's also-rans. IBM is a case in question.
Good luck, All.
Rajesh Agarwal. |
