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Miklosh, the stock finished at 40 15/16, down 1/2, which is good considering so much selling among the Bears occured. With 18M and a little less than 12M today in volume, lots of shares changed hands from the weaker to the stronger hands. Opened at the 42 9/16 High, with 5M shares traded the first hour, the stock drifted lower to the 41 5/8 area where it remained most of the session with so-so volume. Then when the Bears got impatient and offered their discount prices at 41 1/4, the demand increased with 20, 25, 50 and 89K blocks of trades...Tomorrow, the stock should edge-Up further as the Bears are running out of Bad News to use in rationalizing their selling. Investors' sentiment clearly turned positive today, not like the past weeks when every News (which were otherwise good under different cicumstances) were percieved as Bad just to justify taking profits...The stock needs some additional good news to propel its way to the 50s, as the Earnings date nears...It is KLAC day today and LRCX, tomorrow. Let's hope for the best... |
