Mid 30's by November? I'm certainly not short the stock, but it's going to take some incredibly strong news to turn investor sentiment around after this current beat down. Even if Apple announced one or two killer new products, Cirrus will need to give VERY strong forward guidance to entice investors again. They need to prove customer diversification too. A lot of it.
Good to hear from you. Cirrus is a beast, eh? Not for the faint of heart, but if you can stomach periods like this, there is money to be made. Knowing the long term plan is in good shape, the stock must be purchased on days like this (and sold when it gets frothy). For me, the buying is easing. I know exactly when to do it (today and the weeks to come). The selling part is soooo much more difficult....if I could just get that one down
hi fiber I am busy flipping a house so I am NOT watching everyday, and it makes it very entertaining I manage an account for a firend and I added to her position today, and thinking of it for myself as well...yes this level must hold and it really makes zero sense for it not to hold, CRUS must be bought in position portions and I dont see any real change in its future, perhaps volume will offset margin decreases!!??
That is excellent rhetoric. There has been no correction in the market yet. When that comes this will go much lower. That was a big drop in margins for CRUS. There were a lot of shorts in the stock. The second drop had a lot of hedge funds selling here. A lot of this buying is short covering. Will need the shorts that covered to go long or some hedge funds to believe as you do that it is a bargain. Maybe this is a double bottom and it is a good time to buy. We will see. For longs I hope that is the case. I have covered my short. Not often you get so much money this quickly. There may be more here for shorts yet but there is a saying regarding pigs getting slaughter. Happy trading and may it work out well for you.