I forgot to post, but I dumped CRUS last week on a big morning spike one day. Forgot to post it. But, I just bought back in AH. CRUS can be very volatile. I used to trade it every day, exclusively. You can make $ on it fading the morning gap most days, as that is it's normal pattern, kind of like BTU, which gaps up @ the open, but quickly sells off most days. Keep in mind that this drop was on Apple's lowering their orders for Iphone5 parts only. But Iphone5 chips are only part of what CRUS makes for APPL. They make chips for Ipads, and everything else "I". They also make the sound chips for all Android phones, including Samsung, which just posted record earnings/sales. Crus also makes LEDs and LED dimmers. They are the only makers of LED dimmers. Apparently, regular dimmers don't work with LEDs. I see this as a buying opportunity, not a disaster, so I bought today, expecting a gap up in the morning. If it doesn't come, I will sell . Still, this normally runs into earnings, which are the 23rd, and I expect it to run now. The sell off was way overdone, IMO. Picked up 1000 shares today. This is a tough market to be long in, as a significant correction is over due, IMO. That's my only caveat. We don't know when a correction is coming, but hopefully it won't be before the "debt crisis". I don't see CRUS going lower from here before earnings. When we get into last week of Jan, beginning of Feb, I would expect market to start a sell off.
Im thinking the market is also tired, so its best to have some tight stops. Anyhow, I am mostly long right now, so I am hoping I can get out of the market before the govt. shutdown talks really kick in during March. I believe that is going to be the catalyst for the sell off, so between now and March 15, I feel the best spot is to be long.
Ill buy more CRUS tomorrow if it hits 28 even per share.