Robert...Agree with your assessment of TA concerning RFMD. I have been seeing this sell-off coming in the general market for a little over a week now. Lucked out and sold my RFMD at 48 7/16 last week. MACD still has not confirmed sell, but one more down day would do it, stochastics also have turned down. I DO however, expect some bounce in the averages maybe as early as tomorrow, BUT I will be shorting the internets and select semiconductors into any strength for a little short term trading. Been short since last Wednesday. Not short RFMD, I will wait and double up on my position when I get a Buy signal. I think it could get as low as 34-35 before this sell-off in the averages is over, maybe lower if the sell-off really gets ugly. Too early to tell about that. Of course, everything is subject to change at any time, the market has been known to surprise us all. However, with Greenspan continuing to be hostile toward high valuations, we may be in for a real sell-off this time. I think the market deserves a Real breather, as the market has not experienced a significant sell-off since 1994. There could be some outstanding bargains in the coming months. I will be ready to grab 'em up. RFMD will be first on my list. May start averaging in RFMD in the high 30's. Have to play that one day by day.
FWIW,
Emac |
