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Technology Stocks : PMC-Sierra (PMCS)
PMCS 11.650.0%Jan 25 4:00 PM EST
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To: Billy Joe who wrote (1985)8/4/1998 2:07:00 PM
From: Billy Joe  Read Replies (1) of 3818
 
Short term musings for a long term position....Uhhh...Somebody kicked me at the beach and said the mkt was taking a dive.

PMCS resistance could be broken to go down to the 34-35 range if the general market malaise continues.

This violates my 37-50 range prediction, but it's based on the number of Aug 35 puts that are currently in play. In my estimation, the puts dragged down the price severely to cover after last Qs earnings. The general market problems may be just what they need to get the price where they want it (albeit, there's better call action at a higher price (in the 40-45 range) than there was last time....).

Hmmmm. Add to my position again if it breaks 36 resistance (it shouldn't move more than 10% below that).
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