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Technology Stocks : Rambus (RMBS) - Eagle or Penguin
RMBS 87.70-3.8%Nov 18 3:59 PM EST
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To: RetiredNow who wrote (13717)1/16/1999 1:36:00 PM
From: jmanvegas  Read Replies (3) of 93625
 
To Thread

Have been lurking for quite a while.
I am a long-term bull on RMBS.
Have purchase large blocks at much
lower levels and have flipped
the shares on several occasions
for excellent short-term profits.
Own RMBS in my retirement account.
Sold out yesterday in the high 80's.
I am quite concerned about the way
management handled the warning.
Should have warned prior to the
earnings being released as opposed
to the possible "manipulative" way
it was done. I am a technical trader
and have been doing this for many
years. The trend line has been broken.
Gap down! Could refill gap near
95 - 96. Could even go higher if techs
resume upward trend. But shorts will be
all over this in the high 90's or 100's
if RMBS gets there again. The charts
look lousy right now. Broke 50-day
moving average and closed below that
average. Should retest the 81 1/4 low
on Friday in the short-term. If it
breaks that, sayonara. Could refill
the gap left at 74 -75. Earnings
outlook poor, management handling
of that even poorer. Earnings coud be
lowered for the year 2000 as there will
be delays in ramping up, competition, and
initially high prices. I am looking to
buy at much lower prices. The chart
reminds me of TLAB after the Ciena
fiasco. I believe the only reason
RMBS recovered from the lows on Friday
was the 71 point gain in NASDAQ.
Could be wrong, but the charts tell
be otherwise. Any comments?

jmanvegas
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