First of all, it goes without saying that NVMI has solid fundamentals and great management.
Now, from a technical viewpoint, even if there was a complete 50% Fibonacci retracement (for instance, during a full market correction), NVMI would find solid support at $7 (rally from $4 to $10, results in $6 rally, 50% is 3, add 3 to pre-rally price of 4, and you get $7). And that's the WORST CASE SCENARIO.
Before that would happen, NVMI would first find and test support at the 200 DMA, and then the 61.8% level, that is, about $7.71.
Anyway, I will look to accumulate at the 200 DMA if it appears to demonstrate strong support, and if it is broken, I will wait until it closes in on the 61.8 level, or if it breaks back above 200 DMA on solid volume.
To sum things up, pay attention to the facts and be ignorant of the mindless bashers, most of whom have an agenda...the downside to NVMI is less than you think, and it is minute compared to the long-term upside.
So far so good. My call to wait until the 61.8% support, $7.71, after breaking below 200 dma was the right call.
Now all eyes on $7.71. If it is broken, wait for $7 to be tested before going long. And if for some reason we break below $7 (which I don't believe will happen, because the P/E would be absurdly low, but it depends on the QQQ), then on to the 38.2% support
My holdings: Currently I am only holding cash and some spreads on the SPY that I initiated yesterday.
I was waiting for the 8's to break before buying my last and final lot, which will also be my biggest (10K)...but I didn't want to buy it all today...just a little scaling in...I really think that gap at 7.36 is in play