Chris,
I am salivating at the perceived "low price" of AMCC, but I then took a look at the chart and saw the 50 day EMA at 54 or so, and I said "whoa dude", wait a moment on this one (or until the psychology changes.....)
The market's taking many stocks down to their 50 day, or 100 day (and in IBM's case, the 200 day) MA.
I thought the 50 day would hold on my TXCC purchase a few days ago, but it didn't and I am glub, glub, glubbing for air on that one.
Do I love AMCC's earnings and guidance. Absolutely.
Sometimes there's just no reason for what results other than it's happening. I want back in to, but I probably will wait as there is a pattern here...(TXCC, VTSS, CNXT, AMCC are all down)
Regards,
Steve |
