I don't know Dale...but if techs continue tgo run on hope and traders just bidding them up during that ertswhile period just before warnings...just by 10K of BRCM under $20 and let it run to $24 -$25 like it did before .LOL
(...I can just see you holding that much BRCM and turning green with fear. Sox bumping up R @ 350, that is what to watch, and INTC.)
there no other reasons for doing this , other than it's another chance to bid them up ,, and traders just love ones like BRCM and consider them cheap and in for a quick rally then dumpo. That's all I was seeing on QLGC this week and mine is not to reason why , but to try and trade the moment and ones that will bid back up the fastest.
IBM may be worth a short-scalp first off this triple top break-out for a pullback , cause it takes alot of cash to move this one up further, but I would try it after it pushes past $80 for a first shot where some might take profits, maybe a pullback to the $78 area and rebuy. Cause ultimately looks like Big Blue might do something near $84 , unless IRAQ sets the world on it's ear short term.
$75 was a breakout for that stock. Decisions decisions , but I was cautious all last week , when I thought i felt/saw shorts deciding to cover and let the longs run them up again , then move in for the harvest one more time for the laggards and weak ones that floated up to far.
That's what to look for , the weaker ones always and be patient. Like lions on the plain , scouting for the old and sick in the "Herd"...we've seen them do this before inspite of fundamentals , and stood incredulous as
they moved them up. |
