Now at resistance levels:
SPX at 200dma
SOX: after falling below its 200dma in June, retesting it from below, failing, and going much lower, SOX has now set a lower high at 398. The area just below the 200dma looks like a resistance level.
KLIC up over 50% from its October lows, and up over 10% today.
vix at 30 (lower end of range since early August)
KLIC's report today:
For the quarter ended Oct. 1, Kulicke & Soffa reported a (GAAP) profit of $1.9 million, or 3 cents a share, down from $56.1 million, or 78 cents a share, a year earlier. The latest quarter included $16 million in higher tax costs, a loss of $2.6 million related to currency changes and $2.5 million in write-downs. Excluding those items, earnings were 31 cents a share, above analysts' estimates of 27 cents.Revenue fell 30% to $180.4 million, but beat the company's downbeat August forecast of $155 million to $175 million. marketwatch.com
Looking forward to the first quarter of full year 2012, the company expects revenues in a range of $100 million to $120 million, which is below the current Street view of $159.3 million. rttnews.com
I remain convinced we are past the cycle peak, for both fundamentals and stock prices. KLIC's report does nothing to change that opinion.
disclosure: shorted more KLIC at $10.55 today; still holding my MU short. I have become too busy to look at my stocks more than once a week or so. I'll probably cover my KLIC and MU shorts when SOX hits 330. |
