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Technology Stocks : RF Micro Devices (RFMD)

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To: mahler_one who wrote (4202)	1/7/2003 10:02:39 PM
From: Cisco	Read Replies (2) of 4849

You might want to follow my discussion on this thread today starting here: Message 18413296 Note the chart put up by JXM: Message 18413890 When you see Stochastic turning down above 80 it is a sell signal. When you see Stochastic turning up under 20 it is a buy signal. Note the Head and Shoulders pattern as noted on the chart. If it turns out to be a true Head and Shoulders pattern you can expect to see the stock go down to a lower support area. Also look on the following chart. Note that this is only the second time in the last year we have had a down day with 30 million volume. Note what follows. stockcharts.com[w,a]daclyiay[dd][p][vc60]&pref=G Technical Analysis is no more than a measurement of mass psychology. Today we saw panic selling despite good news. I choose to dump the stock this afternoon rather than risk my profits. Some believe that there appears to be significant support around $8.00. I am not sure if it will hold. I am a short term trader. I will watch tomorrow and decide wether to re-enter long, sit on the side, or short the stock. I love RFMD for short term trading. With 10000 shares, every 10 cent move is worth $1000. For example, today the stock price range was 85 cents. So even if one made a bad entry you can still often get out with a profit. This is one stock I don't recommend holding long term because it has a long history of cycling back and forth. I can predict that this stock will hit $12 sometime this year and most likely will be right. I can also predict that this stock will be go down to $5.50 this year and also most likely be right. The key to being profitable with this stock is knowing when to buy it and when to sell it. That is what I use TA for. I would recommend that a first book for those who want to learn TA be: Trading for a Living by Dr. Alexander Elder.

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