akmike,
I was so confident in my last take of LSI's chart that I added @18 5/8 last week with little hesitation.........could not believe my eyes.
I asked myself where is the downside?......will I be able to get LSI @17 next? 16? 10? 5? 2? <gggg>..........just could not believe it.
Have been watching the formation of a huge double bottom...... we should not really
call it a double bottom reversal until we see the stock make a move towards, and then break, $40....... and, very roughly, if we break $40 we will see $60, and if $60 I target $100, based on formation only (future formations may change this, or reinforce it). BTW, imho we've had these same measurements since the move to $46/48 during the Spring of '97, but it was too early........so we moved back down into a double bottom..........and a larger period of consolidation.
Imho, we should be nearing the end of this consolidation. This is why I bought at $18+.......risk/reward is so sweet here, and support is very good. One other thing to note might be the look of a descending triangle that we have right now. If we are eventually going to get the full double bottom then this will have been a bear trap. Here, shorts are hoping for some new catastrophe to hit the the stock, and bring it down through support, whereas, longs are buying business as usual......aka cycles. If the longs are right and the stock moves up from here it may never turn back, not even to test.
FWIW Recently, I spoke with a customer of LSI. He told me that LSI is really great to work with, and that they are very nice people! He said that customers of LSI would most likely want to continue to work with LSI, because it's a pleasure to work with LSI.
*something OT*
I've been off toying with this interactive screen saver. It's fun! I just posted the link on my profile. It's free.
pcdynamics.com
Thanks for the kind words!
E!
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