Dick,
Good work! I was hoping the same for USRX! Check out Schwab's daily briefing on tech stocks at, I believe at
"www.briefing.com/schwab/techs.htm."
Schwab points out that today not only did prices rise, but volume increased- i.e., leadership spread out in the sector. Is the correction over? Maybe not yet, but it's looking more likely. Schwab likes semi equipment makers and networking stocks as the best values in the sector, followed by chip stocks.
If you like a steam roller but high priced, check out ETEC, good volatility with high option spreads, then GSNX or USRX; sheer value but with no options SMTL right here and NANO; and reasonable value with options try CY.
I looked at the intraday chart of Semitool, and each trade at the end of today drove the price of SMTL higher, and not on particularly heavy volume. If you look at the intraday charts of e.g., CY or USRX, the same- each also finished at the high for the day, albeit on choppier action than SMTL (i.e., some selling).
As crazy as it sounds I'm still considering Jan 99 $35 LEAPS on COMS....
Sincerely,
Doug F.
P.S. Note the talk on the CY Thread that CY tends to move in a $3 range, up and down. Also here's another tip: watch USRX's volume in the first hour of trading and see if it correlates with which way the stock price goes through early afternoon that same day.... Note that that same pattern will not hold into the late afternoon when institutions get more heavily into squaring positions at the end of the day.... |
