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RF Micro Devices Inc. Message Board

  • ET1960 ET1960 Aug 6, 2001 2:31 PM Flag

    Careful Longs...

    Dear Longs -

    Be careful here...

    SOXX is approaching 2OO MA (around 625) again after bouncing off of it nicely this morning around 9:50am. If the SOXX breaks decisively to the downside, you could start to see an acceleration of selling.

    I went long this morning, took my .75, and am now short again.

    Good luck to all...

    ET

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • The RSI and stochastics suggest we are at a short term top, confirmed by the bounce off of the upper bolinger band. The MACD also looks like it is turning down toward the signal line so if the stock shows any weakness in the next day or two, it's headed down to support in the low to mid 20's. I'm short at 30. Good luck!

    • agree with you. rfmd is one of the most expensive tech stocks now. if it miss something in conference call tomorrow, will sell off tomorrow. insiders sold a lot in the past month. they must know something. i short rfmd at 32 and change last week. i'm not going to buy back untill low 20s. good luck.

    • I noticed that 90% of RFMD's volume is institutional. SOmeone here just reminded us that the US Piper Jaffrey Technology & Communications conference starts tomorrow. I'm wondering if I should go short or long.

      In case, RFMD has something good to say in that conference, we can be going up against a downtrend SOX.

      • 2 Replies to chkpfbeliever
      • <<<<<Subj: Re: Careful Longs...ET
        By: chkpfbeliever
        Date: 08/06/01 02:34 pm

        I noticed that 90% of RFMD's volume is institutional. SOmeone here just reminded us that the US Piper Jaffrey Technology & Communications conference starts tomorrow. I'm wondering if I should go short or long.

        In case, RFMD has something good to say in that conference, we can be going up against a downtrend SOX>>>>>

        Dear CHKP -

        Frankly, I don't care that they're presenting at a conference. I don't care what they're going to say. I trade ONLY based upon the charts. I have my indicators and my philosophy, and I use it without deviating from it. Charts don't lie.

        By the time you decide to jump in (or out) based upon a presentation, or news, or earnings, I've already made my money. I'll be the guy selling my shares to you, or you'll be the guy selling your shares to me.

        Earnings? Valuations? P/E's? Growth Rate? Analyst Recommendations? Upgrades/Downgrades? These things mean nothing to me. Not a darn thing. I am only interested in three very simple facts: Is the stock price moving. If so, what direction and how strong? That's it. Based upon those three facts and the indicators upon which I trade, I'll enter a position when the time and circumstance is right.

        Currently, I'm short. But that could change in 5/15/30 minute intervals.

        Good luck.

        ET

      • > I noticed that 90% of RFMD's volume is
        > institutional. SOmeone here just reminded us

        i guess you mean i-watch. interesting that "non i-watch" percentage is tiny today, so these numbers may actually mean something. sellers dominate.

        http://iw.thomsonfn.com/iwatch/cgi-bin/iw_ticker?ticker=rfmd

 
RFMD
11.97-0.05(-0.42%)Aug 20 4:00 PMEDT

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