William, +10.3% 4 sessions before an earnings report - smells like "traders rumors". And if that's what it was, as always, the problem is are they true, or are they being spread precisely because the opposite is true and someone needs to give it a cushion?
Other than that and the strength of the broader markets (at least early on), maybe some people liked ALTR because of the damage LSCC and others were taking over the fire at the fab in Taiwan (and in re: LSCC, they report they're not even getting wafers from that particular fab, which probably explains the intraday bounce off of 59) or maybe they figured, "hey, at 49 1/2 it's a few points below where it bottomed out after the earnings warning."
Don't know, but 5 points and a 10% gain on no visable public news does look a little strange. Will have it on the screen, but more likely to enter LSCC, only because it looks a little easier to pin down recent moves and gauge whether they were overdone or not.
Good trading,
Tom |
