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Cirrus Logic Inc. Message Board

  • mike.anderson38 mike.anderson38 Mar 6, 2013 11:26 AM Flag

    The gap must be filled

    We had a gap up in April of last year from 21.35 to 24.85. We should trade down to at least 21.35 maybe a little lower and reverse to the upside with the same force back to 24.85. After that we should stop going down and stay in a range between 24 & 27 until ER.

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    • Date Open High Low Close Volume Adj Close*
      Mar 5, 2013 421.48 435.19 420.75 431.14 22,760,500 431.14
      Mar 4, 2013 427.80 428.20 419.00 420.05 20,812,700 420.05
      Mar 1, 2013 438.00 438.18 429.98 430.47 19,730,300 430.47
      Feb 28, 2013 444.05 447.87 441.40 441.40 11,518,400 441.40
      Feb 27, 2013 448.43 452.44 440.65 444.57 20,976,800 444.57
      Feb 26, 2013 443.82 451.54 437.66 448.97 17,910,700 448.97

      Those are capitulation type numbers... We went from 450 to 420 over the course of 3 days with heavy volume on each day.

      Date Open High Low Close Volume Adj Close*
      Mar 5, 2013 22.95 23.35 22.65 23.02 3,527,800 23.02
      Mar 4, 2013 23.25 23.30 22.46 22.73 3,344,800 22.73
      Mar 1, 2013 23.69 23.76 22.91 23.39 3,574,100 23.39
      Feb 28, 2013 24.22 24.37 23.61 24.04 1,996,500 24.04
      Feb 27, 2013 24.18 24.48 23.90 24.17 2,286,800 24.17
      Feb 26, 2013 24.57 24.75 23.74 23.88 3,357,600 23.88

      When looked at through this prism the same thing actually happened in Crus.

      I think this means the apple complex has bottomed. Google has topped. The market is going to take a breather. Apple will be a reversion to the mean trade.

      The one wrench in my plans is that with earnings coming up it seems a bit early to have the market sell off but it could just be a quick violent correction, followed by an earnings rally to test the highs, and then the summer swoon.

    • we get 5mil shares and end green and ill be buying back my first taste.

    • I think that if you base anything on Crus itself you are ignoring whats happened... Crus fundamentals or technicals do not matter... Show me where apple bottoms and the rest will fall into place.

    • oliviajagger@ymail.com oliviajagger Mar 6, 2013 12:09 PM Flag

      This stock is trading in it's own little world now. So tell me how CRUS will get back above $25 if this gap is filled. For a technical trader which is what you are this stock is in the process of forming a long term head and shoulders so at some point it should drop to $15. This stock will turn when no one expects it to pure and simple, gap or no gap. When it has a reversal on volume is when it should be bought.

    • we'll see...

 
CRUS
32.15Feb 10 4:00 PMEST