Put your buy to cover order in at 7.74, or at 7.64 the very least...I don't know about ISSI hitting 7.50 exactly...I suppose if the market gets hit hard enough ISSI will tumble through 7.50 but It might take a strong downward push to get it through there.....again, I think the 7.75 area is do-able though, as a matter of fact I expect it to hit 7.74 ish...This market kind of melting up seems to be the only thing holding ISSI up...one good down day and I feel like ISSI could just tip over get beat like a red headed step child...there just aren't any buyers that seem to want to buy the stock...no idea why...I lightened up today at 8.58...I actually lightened up on all my stocks and only have small positions in each going into the fed announcement tomorrow...I hate big market moving events like this one tomorrow because the moves are magnified 10X what they should be and fundamentals don't mean a thing. In this age of computer trading we're all going to get wip sawed and dizzy after 2:15 tomorrow, most likely in the first 15 minutes afterward, then again going into the close....owell, this is the market we're stuck with so you have to play it accordingly....I would suggest that every retail investor lighten up a bit going into the fed announcement. People have been wanting to see this market correct with all the bad news coming out, but it's not correcting due to thinking of the fed may ease due to the weakening economy. If the fed comes out and doesn't make some sort of announcement of them helping the economy, then I think this market could get hit pretty hard and start it's major correction back down to the S+P 1010 area...from there who know's???
Never see 7.50, the bad news is already priced in, stocks are undervalued with historic low PE and lots of cash. The reaction to the fed is almost always a double swing move with the first reaction usually the wrong one. ISSI isn't going down a buck with their numbers and if they did there would be a buyout at bargain prices with lots of cash changing hands.