<<I had an order in for 1500 shares @ 28 1/4 for all morning since open. There were tons of shares traded at 28 1/4 but MMs wouldn't even give me a share.>>
I have an account with DATEK. A few minutes after the open, I saw bid @28 1/8 and ask @ 28 3/8. As soon as I entered my order and check the price for the last time (real time) the bid was already @28 1/4 and ask @ 28 1/2. I went ahead and entered the order then left for work ( still has a full time job ). I had yahoo (20 min delay @work) and saw the price was at 28 1/4 many time. I was certain that I did pickup those shares; however, to my surprise, when I was able to log on to my account, zip, no thing, not a share. I never use the AON feature. A little pissed, I called my broker and he told me that the ask was never hit 28 1/4. I argued with him that there were shares traded @ 28 1/4 all day long. He told me that MM bought all those shares and didn't sell back to me any. I didn't like the answer but there was noway I can refute his explanation. I had bought other stocks many many time at bid and got my orders filled most of the time. Oh well, my tough luck.
Sorry for rambling on and on about my problem, let talk about CMOS's future.
Last quarter was impressive given the fact that CMOS derive most of its revenue from Asia. I listened to the conference call and very impress with its expected growth, gross margin, and cost reduction program. The only thing trouble me was the conservative expectation for 2q revenue's growth, given either flat or moderately growth comparing to 1st quarter. First call still has 2Q EPS @.5, which will be a hard number to beat. I expect the company will do much better in 3rd and 4th quarters due to new orders. It seems like the company is having a lot of customers in testing phase. it takes 60-90 days for them to make decision and order. This will happen in 3rd quarter. IMHO, I think this explain the stock behavior this morning. I think CMOS will trade in a range of 28-32 for a while. I don't expect any significant increase in price until may be June/July or after analyst lower their expectation for 2Q to maybe .42????
Still long with 1500 shares but may not stay long very long.
ps: check out ADSK, it is a bit pricy but is showing same sign as
CMOS, buy on weakness and sell toward earning, next week, may yield you a few bucks per share. Please trade at your own risk. |
