Jason, all the semiconductors have been under attack yesterday with Philadelphia Semi sox index down. This is the same old same old; Shorting of a small float stock. The only good thing about it is that their product is flying off the shelves as no 1. Countdown to EPS day; 3 weeks. Will try and get back in at 13 ? ( or 11 ? ).
It may be worth re-reading a post of mine from before,
TA
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Message 4666243
To: Paul A (3618 )
From: Tunica Albuginea Monday, Jun 1 1998 12:53AM ET
Reply # 3621 of 4202
Paul A, " what will be the near term price of TDFX ? ", Re your post:
<< Going to be a real tough week for the market so they say.. Another critical week for the stock price- I really hope we hold the support at $19. A correction in the longer haul would probably be the best thing we could have hoped for to rotate some of this cash, but in the short term if we break back below 18-19 support it could really get ugly >>.
It is important to remember that the quality of a stock does not always correlate with it's price. Some great tech stocks have corrected up to 70% from their high and still moved on to new highs, later.
For TDFX a 70 % correction from $35 would be down to $ 11. Let us also remember that TDFX was down to $14 in OCt & Dec 97 as well as in Jan ( intraday ). Thus somewhere between 11 and 14 may be it's real support level.Needless to say that if it were to fall down there I would buy a giant amount of it. If I were a long term investor however, such as my son, I would not sell at all, and would hold on for long term appreciation, rather than trying to time the market; All IMHO,
TA
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