Do I like SMTC? Well, let me tell you a story. Today I had this can of Pringles on my desk and someone offered me $5 bucks for it. Since I only paid $1.39, I though he must be crazy. Moral of the story is that if someone wants to pay $55 for SMTC, that's fine with me. Today everyone was bidding up the chip stocks, and SMTC is a chip stock, of course I like it, but be careful and protect the profit. As I have said many times, If you buy the right sector, it it hard to go wrong. for a long time, chip EQ and chips have been the sector. I like the chip EQ stocks better personally but SMTC has been amazing. I think it was in the mid single digits not that long ago.
I had to deal with law for a good part of the day, but still had a real good one.
Anyone get ZIGO, ORFR or ATMI?
Sold the 45 1/4 ORBKF at 49 3/4. I like to sell just before round numbers as they are psychologically tough, especially 50 and 100. Of course it then went up another few ticks before reversing. This was a classic volume breakout. I bought half the position back late and will add on another break.
Bought and sold RDRT for 3/8 and rebot at 27 3/8. held
Held MLIN TSEMF AND NMGC. All strong. NMGC was an amazing clean out by Morgan Stanley. They downgrade it and raise estimates. What a joke. Fine with me, I bought at 18 and 19 3/4.
Held DMMC.
Sold AZZ for 1 1/2
IFCI looks bad, but didn't sell at support here.
PESC had good volume and I held on, but will have a tight stop on tomorrow since it didn't close in new high territory.
MIND didn't do much.
Bought PAIR 25 1/4 for a flip.
Held MLIN, vol picking up, I would have added to it but was gone when it started to move. If it's strong tomorrow I will. It's going to 10. It has been treated like it's going in bankruptcy but in reality it makes good money.
I need to get out of this law biz. I can't afford to not trade <g>.
I have plenty of time tonight to find some stocks for tomorrow. However, I didn't hold much because the market is extended here and due for profit taking. If it isn't tomorrow it will be Friday most likely. |
