Robert, I see it as a coiled spring (just as CDTS was coiled around $8 in the last two weeks) and it could break to $13 or so. In the meanwhile I am scratching my head trying to anticipate if we are going to hold 3800 or not. We have formed an interesting triangle in the last two hours, and this should be resolved explosively up. Of course, if 3800 gets taken, I'll step aside to see how far the retrenchment goes. In the meanwhile, however, taking a clue from the SOX which is weaker than the NAZ I decided to take off the table both SNDK, SSTI and RMBS for smallish gains (second today), getting $68.5 on SNDK, 98.5 on SSTI and 214.5 on RMBS. I'll watch for reentries in the three and in QCOM and QLGC (that one refuses going back under $60 <g>).
Zeev
It seems as if that triangle will resolve itself down, the sox is close to make a new low for the day. I may sell some more if that happens. SCON got sold at $22.25, even. CDTS went out at $15.25 for a lousy $.75 (well, that is still 5%). CCRD went out at 29-13/16, a nice gain. |
