For the past 2 weeks JDSU has been in the penalty box. How much longer before they let it out? It's really not surprising that it goes through that 15.50, puts in a 52 week high, then it gets taken down almost immediately. If you can withstand the pain of this really annoying pullback, it actually is a good thing for making a run at 16, then who knows how much higher. It's almost better than if it just floated around 15 to 15.50. At least there are plenty of shorts that will cover and people who sold with the intention of buying back in having to do so.
Now I presented some numbers down. I presented data to support. I'm on record somewhere else the spx will drop to the 1300's. JDSU is a good company. Yet it will retrace. Expect it. I am and why I presented it. When it is done. UP UP. NOT if but when and from where.
Yes, it's just a matter of how much it pulls back. Since January, we've already had three: 1) the Cramer pullback, 2) pre earnings shakeout, and 3) now this one. If you look at a point & figure chart, however, the risk is obviously being on the short side.
Telcos are lagging , Waiting on reports from 2 big players CIEN / FNSR march 7th will make this baby move either direction and most likely higher because the uptrend in telcos spending , Yup you heard it right here .