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Technology Stocks : IDTI - an IC Play on Growth Markets
IDTI 48.990.0%Mar 29 5:00 PM EST
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To: Taut Knot who wrote (11389)4/29/2002 11:39:54 PM
From: Rob S.  Read Replies (1) of 11555
 
I covered my short positions in IDTI today. I didn't go long on any semis yet and will watch for interday sell-offs and reversals. We are close to the point where any day (hour or minute) now we could get a volume reversal. I expect that any rally we get will prove to be a bear market rally with lower prices yet to be reached in most semis later into the summer. If we get reversals similar to major sell offs that have occured in techs stocks over the past two years, you can expect to see stocks move down 10%-20% and then reverse to close up 5%-15%. If you catch it right it can mean a 20% or greater return in a few minutes. . . but that takes bug eyed watching of the screen of likely candidates and some luck. I've come back to the screen after getting a cup of coffee and all the immediate gains already had blipped by.
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