both yesterday, and today, IMO. I thought the early a.m. sell-off yesterday morning (right after market opened) would deepen, but obviously good earnings from key companies reversed this to a modest gain. Now, a tiny bit of inflation-implicated data this a.m., and we see a strong sell-off, taking ALSC with it. So, ALSC is quite reactive to NAS downturns during the past few weeks. Also, I don't see the news announcement of last evening reversing this sensitivity today or tomorrow. I agree with others that the man-from-Hitachi hire was quite a big deal, but I don't think the investment community even took notice. This stock just isn't followed that closely. However, the announcement should have been held over to the date of earnings release, for maximal impact/exposure, IMO.
Short term, it will take .13+ to move the stock past 30, IMO, plus a great news write-up that hints at great things for the coming quarter. Certainly, Needless-sham's downgrade hurt ALSC more than I thought it would. Only an upgrade next month could be the ticket to a new base of 30. For the remainder of the week however, we will be highly reactive to nervous investors who will sell-off in an instant, to preserve 4 days of good NAS increases.
In short, I'm not expecting much right now from ALSC, for the rest of the week (no earnings announcement pre or post-run up). Long, but still a tad disappointed. Like Old Faithful, the steam has temporarily gone out of this one and needs to rebuild.
Off to a friend's ranch on the Bitteroot River in Montana this Thursday, so farewell until next week.
there. Should have left this a.m, but a few last minute things keep coming up. A friend has immediate family who run a large ranch through which the Bitteroot runs (in the Darby area) I'm very excited about the opportunity to fly fish relatively untouched, private waters. Visited the Beaverhead last summer and it was a zoo.
Be interested in swapping stories after you complete your trip.
Truly, there really is very little difference between religion and flyfishing.
ALSC is performing relatively well on a generally weak day for NASDAQ and semi stocks. Merrill Lynch's quantitative analysts reduced their weighting for chip and chipmaker stocks. That has triggered profit-taking today even among companies like Novellus and Lattice that have substantially beat estimates.
ALSC has held up pretty well, and I think it will continue to outperform the sector. ALSC will have a strong earnings report with lots of forward-looking positives around the new communications division. The company's high liquid asset value will make it particularly attractive as they begin to develop in this new direction. Whether through acquisitions picked from among its venture companies or joint ventures with partners wanting to take advantage of Alliance's excess production capacity, there should be an abundance of positive news moving into 2H00.
ALSC is 3rd tier semiconductor company. Most floating shares are held by individual with no clues. It is a weak stock in good day or bad day. I am surprised that the Reddy brother not selling more shares to any fool who would buy them.