RF Micro Devices (RFMD) Message Board

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Technology Stocks : RF Micro Devices (RFMD)

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To: robert duke who wrote (1250)	11/9/1999 10:30:00 PM
From: Retire@40	Read Replies (2) of 4849

Robert...been keeping up with the thread and just wanted to throw in my two cents worth since we have several new posters to the thread. As long time holders of RFMD you and I know what the fundamentals and long term prospects of both RFMD and the wireless industry are...and I know that the stock has just broke out of a two-month base which began in early September and has been performing in line with the Nasdaq...but I watched the stock's price action the last couple of days and I had to wonder if something else was going on with the stock. I remember the days of early 1999 when it wasn't unusual for the stock to pop 5-7 points a day...and trade in a 7-10 point range frequently(like today!). You could buy an intraday dip and sell at the open the next day for great profits. The stock is quite a bit more fairly valued now though and I don't think this kind of price action is sustainable for too much longer without a breather unless there is something going on that we don't know about...such as a buyout or new major contracts. Maybe it is just institutions buying in advance of next year's expected ramp in revenues when the new fab comes online. Said all that to say this...although I am impressed with the recent price action, the stock looks a bit extended to me technically and that gap up down around 54-55 may be filled at some point...I took some profit today at the highs on some shares that I bought in the low 40's last month. Still holding 2/3 of my position and looking to reenter at 60-61...anything below that will be a gift...will aggressively buy near the old highs of 54-55 if we see those levels again. Also the major averages are looking toppy as well and may be looking for an excuse to sell off some more. I feel rather strongly that we have bottomed in the averages and I am looking for some pullback to aggessively buy some quality stocks. RFMD and NOK are at the top of my LongTerm list. I believe we will get that 2-1 split by Feb-Mar if the markets hold together. I will be happy to see the split sooner though. It also won't hurt my feelings if the stock just keeps going and never looks back until it sees 100. <ggg> FWIW, Emac

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