Hi Harvey, sorry to respond so late. I wasn't checking all my messages. I am not a technician but I was asked the same question last week by a friend of mine. My answer was 47(weak support), 40(stronger), 35(more stronger), and 25(damn strong).
In my opinion, where SHVA and the rest of networkers end up in the short term(a few weeks before the next qtr. earnings season starts again) have a lot to do with the good old king of networkers, CSCO. A lot is riding on CSCO and they know it. CSCO, INTC, ORCL, & MSFT are the four key tech stocks that are listed in every money manager's shopping list. The other three have put a smile on investors face and now it is CSCO's time to report excellent earnings with a bullish tone.
If CSCO delivers, I think we have seen the bottom of SHVA. Otherwise, may God help us.
FYI, CSCO usually comes in ahead so I am not planning to get out before Thurs. night.
One way to know if CSCO will come out ahead is to call CNBC and find out if any of CSCO's management is invited and accepted to show up on Friday morning on CNBC. 99% of times managers accept to show up on CNBC if they know that their earnings is good. If the answer is yes, I will load up on PAIR but not CSCC or ASND. Investors have reacted very strangely to CSCO's press release and have butchered ASND & FORE before.
I'll call CNBC on Thurs.
Good luck;
Mojie |
