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Technology Stocks : Silicon Motion Inc. (SIMO) -- Ignore unavailable to you. Want to Upgrade?

To: Elroy who wrote (33)	10/7/2011 10:27:22 PM
From: Elroy	Read Replies (1) \| Respond to of 2991

benzinga.com Shares of Silicon Motion Technology (NASDAQ: SIMO) are trading higher on the session by 7.69%, trading at $13.45. The stock has been moving largely higher over the past three months and shares look like they will continue that trend through October. Silicon Motion Technology's 52-week high, set only a few weeks ago, at $14.00 is now in view as shares recently tested, held, and broke above 20-day and 50-day moving averages. Note that SIMO has only 1.91% short interest, so this action is largely long holders. Traders can play a potential breakout by buying the November $12.50/17.50 call spread for a net debit of $1.65. This is a low risk, high reward trade with a known max loss (debit paid) and a potential 200+% profit. Silicon Motion Technology Corporation is a fabless semiconductor company that designs, develops and markets semiconductor solutions for the multimedia consumer electronics market