Wow. Another breakout, today.
On this upturn, NTAP seems to be doing a "stairstep" pattern. That is, brief horizontal moves are interspersed with abrupt upmoves.
stockcharts.com[h,a]dahlnymy[dd][pb50!b200!f][vc60]
The last 3 weeks of December, we were in a tight 22-24 flat "tread" in the stairstep. Today, we started another "riser". I'd expect new highs every day, or at least every 2 or 3 days, for the next few weeks. When this rally looks to be stalling, and we go into the next flat period, I'm going to consider selling my remaining 2003 LEAPs. Then, I'll wait for a pullback of about 30% in the stock, and buy 2004s. Basically, I want to replace my 2003s with 2004s.
The scared sideline money is coming back into techs. |
