Rambus (RMBS) - Eagle or Penguin Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Rambus (RMBS) - Eagle or Penguin

RMBS 87.20

-3.3%

3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: RetiredNow who wrote (15678)	2/17/1999 2:44:00 PM
From: jmanvegas	Read Replies (2) of 93625

I believe support should begin at these levels and range down to the low-mid 60's at the worst. RMBS is now 40 points below its high. As a matter of fact, this correction in NAZ is almost as severe as the July/October corrections. Internet stocks have been cut by 30%-60%+. Many bell weather tech stocks cut by 20%-30%. I'm not saying the market can't go lower if a mini panic sets in. The smarts on the street would love to see that so they can step in and scoop up shares on the cheap. A mini panic would drop bullish sentiment to more reasonable levels. RMBS's stochastics indicate oversold. Support is usually where breakout occurred, around these levels but we could go 10% lower (lower 60's) so be prepared to pull the trigger if RMBS gets real cheap. RS and money flow indicators also indicate oversold. Momemtum is a problem but it's a problem across the tech spectrum. The utility index is up strong today - could be flight to safety but I find it hard to believe that the Fed would raise rates now or in the foreseeable future. The bond market is taking care of that, thank you. There is no fundamental change in the worldwide tech outlook, therefore, this is a market value correction that will run its course and has already chopped off very significant values in many leading stocks. jmanvegas just my .02c

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next