ARM was down over a buck in pre-trading and as low as $39.87 in the regular session before the heavy lifters jumped in and got the price back up over $40.
The graph looks worse and worse as the weakness can't be missed. How long can the heavy lifters keep the price up? Not past the Haswell release it wouldn't seem. Or even a formal announcement of the Cisco deal which I hope will come no later than earnings. And who knows - Intel may have some surprise announcements timed to coincide with earnings.
I pity the fools buying ARM at 40+ and shorting Intel with the huge risk of more shoes to drop...
I did short Intel today (see previous post). One of my new aliases is lucifercornholee. Thought it funny cause it shows how receptive I am when it comes to being rear ended.
Pity Waldo remained oblivious to the intc technicals, and i'm pretty sure his intc long position is much bigger than his armh put position. which leaves waldonet down since INTC was way up there at 21.95