Sigma Designs- Up 50% per Month- Why? Message Board

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Technology Stocks : Sigma Designs- Up 50% per Month- Why?

SIGM 0.280

-0.2%

Aug 17 5:00 PM EST

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To: Grantcw who wrote (444)	6/30/1998 7:45:00 PM
From: Rarebird	Read Replies (1) of 849

* Off Topic * Grant, Cube's chart has the formation of a double bottom from the Dec-Jan lows and a few weeks ago. Yes, I agree there is some very heavy initial resistance at the $20 level. But there is also some resistance at the 50 day moving average. Cube came back down to the $16.5 level after bouncing to $18.5 the day after the new low was set. Technically speaking, the move to $19.25 yesterday represents a higher high. I see Cube basing out a little while between $18-19 before it challenges $20 and fails. The key to making money in Cube is to buy it or short it once a trend has been reversed. The days of $16-17 are over for the time being. Cube is licking her wounds now and healing, but she is also gathering some energy for a real nice summer rally. At the very worst short term, I see Cube meandering around the $18 level. The reward is much greater than the risk at these levels.

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