Tim, re: when I bought in etc.
Yesterday, when the idiots took Rambus down to $57 and change, I bought 2000 shares (1/2 at $59 and 1/2 at $58). However, I can never resist taking profits so I sold them (1/2 at $60 and 1/2 at $61).
No one can tell for sure what this puppy will do. However, the 50 day moving average on Rambus is $58 1/2. Once it came close to it yesterday, I bought. This stock loves to test its averages.
Actually, IMHO, today's end of day selloff was very positive (sounds perverse, doesn't it?). Once again, the stock is near the 50 DMA.
The stochastics on the stock are positive now (oversold). I'm looking for one of two things to happen tomorrow:
1) Rambus opening a little lower and trading in a several point range (what else is new?) and closing just about where it opened. That would be very bullish.
or
2) Rambus opening just a little weak and then quickly reversing upward on volume. That too would be bullish.
Either way, I do not believe we'll see the low $50s. However, I've been known to be wrong many many times.
BTW, been playing a few other stocks in the meantime. Ciena, Ascend, CMGI and Dell. Having fun too. (who isn't with this incredible tech surge?)
Good luck. |
