Bernie, the volume is quite low, but I have seen gradual recoveries before. My target for the rally was a stop at 3400, it is still there, but if this is taken out, it could accelerate to the 3750-3850 area, then I think we will get later this month (probably starting Wed. next week) a retest of the 3400 and the current bear phase should be declared dead if that retreats holds there. So, the critical area is right here. I have just bought BRKS at $49-3/8, in the event that this rally continues, but my stop loss is unusually tight ($47). I also bought some CCRD at $23.5. I am not committing much more than I have committed last week, for the time being.
As for SNDK, in principle, it could run (if we go to the 3800 level) to just under $70, but I believe it may stall in the $56.5 to $57.5, tough to call. JDSU, on the other hand could have a clear shot to just above $104 on this drive. I have just added back SSTI at $71.875, but I am not too optimistic here. The last half hour might be telling if recent history is a guide (g).
Zeev |
