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Non-Tech : Emcore Corporation (EMKR)
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To: Rock_nj who wrote (536)5/1/2008 10:37:48 PM
From: The Ox  Read Replies (1) of 640
 
The INTC news caused a nice short term pop in the stock price. This was a perfect place for the deep pocket shorts to put pressure on the stock and create short term pain for all who bought into the news. A few days later was when the 50 day MA crossed below the 200 day MA, another signal to TA types to sell.

stockcharts.com

I think the traders are playing this like a fiddle. With this in mind, I think the company will have to blow out earnings for the stock to get a major rise out of the report. Sell the news is what I think we'll get on anything that disappoints or simply meets.

Obviously, today's reaction was a nice break from the past 2 weeks of selling. The semis appear to be getting some play, as we may be seeing a move out of commodities (and weak dollar plays) into other areas of the market.
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