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Hi all -- am I the only one on this thread who thinks that it's too optimistic an assessment to think Atmel has seen bottom? I believe there's some more downside to Atmel over the next two or three months, maybe longer. I don't like that idea, but it seems reasonable. While Asia will indeed clear up, there's more bad news to come out of Asia before there's good; there're more investment firms that can downgrade or ignore Atmel in the interim, thus creating little upside demand; and ANY bad news generally will bring the market down, and Atmel along with it. Technically, it's weak, and now fundamentally Atmel has had consecutive bad news quarters. I'm long on Atmel (yes, I know that Steve recommended against it, and I think he's right, but I already had the stock) but I'm protecting myself to the extent I can with puts. Anyone else out there concerned that we may go back to 15, or lower, and/or that it may just wander in the current weak range for awhile? That the volume is drying up may indeed be a sign that the selling is over -- for awhile and until the next problem. It's also a sign that no one is rushing in to buy. Anyone have figures on institutional holdings of the stock? Have they gotten out, are they holding on, doing anything that you're aware of? That's where chunks of volume can come from. Cheers(?)/t |
