I like s3 long term, great fundamentals, excellent market share, good technology, great relative to pricing.
I never like to buy on the first bounce. S3 just had a deserved bad day after the DIMD news. You could see it coming. When market was up 160 last friday and s3 was down 3/8, you knew the bad news was coming. I think the overall market will correct some before we go higher, including techs. When it corrects, I feel s3 will pull back a fraction, perhaps 10 1/2., 10 as my very bottom, and then I would buy. So far, I count 2 bounces, yesterday and todays rebound off of 11 1/4. Wait a little more for sellers to get out of the way and then strong hands will possess the company. Pay up an 1/2 but atleast get it going the right way. If it is good at 11 3/4, its good at 12 1/4. Getting over 12 again will be important.
Good luck
Steve |
