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Brian, I do not expect CELL to selloff nor do I expect the NASDAQ in general to selloff. CELL has a tremendous amount of strength, upside potential and will not see a selloff. I expect the Dow, not the NASDAQ, to get beaten up again. I believe CELL is on the verge of reversal up. An analyst EPS upward revision could spark that reversal at any time. All I am saying is that Monday the Dow, which has not re-tested its lows, will probably start to do so. The NASDAQ has already re-tested its lows (triple bottom) and is in a strong position to reverse upward. On CNBC, they are expecting techs to start to rebound. The bottom-line is that Monday will be a busy trading day on the Dow. Like Friday, the NASDAQ may see a intraday dip as a result of the Dow but I believe it will close higher than its open. Therefore, if you are considering getting in, do so, but I'd recommend executing the trade ahead of time because of volume. Buy 50% if you are nervous, and average up later. |
