Silicon Investor (SI) -- The First Internet Community

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 : Semtech (Nasdaq:SMTC) -- Ignore unavailable to you. Want to Upgrade?

To: Leeza Rodriguez who wrote (1030)	2/23/2000 5:32:00 PM
From: Jeff Bond	Respond to of 1225

T :o) Around 11AM and 2PM kinda sorta. Analysis - For anyone interested in looking at intra-day trading, I think there is some very good stuff to look at today. First, bring up a 1-minute chart for SMTC for today, because you have to really break it down in detail to see this. First, look between 2PM EST and 4PM EST, it is FUNDAMENTAL in illustrating how machines many times are making trades, either robbing individual investors, or just as likely passing shares back & forth between each other. Look at the 1-minute highs cropped at $73 1/4 for most of the last 2 hours of trading, and the cropped 1-minute lows of $73 during the same period. $73 and $73 1/4 represent lines drawn in the sand by automated systems, as they trade BIG BIG shares based on programs and pre-planned systematic rule sets defined by back-room statistical gurus. Also note that trading today was defined by trading about perfectly even numbers, first by $72, then by $73. In the real world, it just doesn't work out like this, and again this illustrates BIG MONEY moving shares. Look at the volume, it is a dead giveaway. Volume was 3 times average volume. That tells a story worth considering (I'd like to refer anyone reading this back to an excellent post by John Morrison that detailed a great complete strategy to follow when looking to invest). In this case, earnings are due out tomorrow, so what is the story, is it good or bad? Well, let's see, stock is up BIG, volume is up BIG, money coming in is BIG MONEY, take a guess ... if you guessed the trading was buying, bingo you win the prize. Also, a classic rule of breakout trading is to watch the stock price as it nears an old 52-week high. If the stock price moves $1/8 past that old high on big volume, you should have an already in place limit order to buy shares at $1/8 above the old high. Look at today's trading right near 10AM. The price FLEW UP right as it passed $70, all the way up to $74 in a very brief 5 minute period. That is SMART MONEY right there folks, at least the ones that had limit orders in to but at $1/8 past the pivot price of $70. I tried, and I didn't get it, so I had to pay $71, which is still pretty good considering. We're off to the races, I will now intra-day follow the stock, and as it continues to rise, I will continually set stop loss sell orders to protect my profits. I will trade this in the short-term, with the intention of accumulating shares for a long-term core holding. I lost this one once, not again, and maybe the smart ones will realize it is still EARLY GAME for SMTC (Thanks Leeza for confirming that fact :o) I will not be able to listen in, Leeza if you do, and could post quick summary notes would greatly appreciate. Best all .. and go SMTC!!! Regards, JB