what "caused" the recent pop in SMSC, was good old "technical" pattern nuance, which is why I bought more at $ 8 5/8-3/4 recently....
when/if it can get over the "10's" area, it can run a bit, maybe towards 13 area ? we'll see....again, when one only buys truly depressed issues, in decently formed "bases", one does not normally "need good news" (or any news for that matter) for a pop to occur, in such a stock....I have been teaching this for others, for decades...
the idea that "news" somehow "causes" stock price moves, has lost so much money for so many nice people, for so many years, that "fading" the "assumed news nuances" has provided us with many, many successful, contrary buy and short signals in recent years....
this, plus the "PSYCLE's sm" chart pattern concepts, covers the vast majority of individual stock (and industry group) price movements.... enough to relax, enjoy the process, and ignore 95 % of all "fundamentals" successfully, with a lot less stress....
best wishes to all, |
