Nice profit all right. I had to go out after my last post and so I changed some orders around, I put in a RMBS at $198, I never got it, but on the other hand I changed QLGC to $81 and got it, and JNPR (remember this one?) at $187 and got it too. I tried for QLTI at $58, but no luck, in any event, I am pretty close to 20% cash right now, and frankly, within two or three weeks I will start reducing this as well.
We have put, IMTO a double bottom (mucuch shoreter time frame than I expected), but I do not think that that is the end of this bear move. I expect a rally to the 4400 area and then if this does not stop us, I think we may be stopped at the 4570, so caution is still warranted. The earnings are finally fueling this rally, a little later than I expected, but I'll take it.
Zeev
PS, added in edit, I see they also gave me SIII at $15.75, it has not moved with the rest of the market, and I think it could easily go to the high teens in the bounce and to the $23 area if the market breaches 4400 on the naz. This one is almost a value stock, their UMC holdings are worth a good $10 per share. |
