Pre-earnings run up will begin at $70 this time. Amateurs getting in at this time will feel some pain. Last thing this country needs is some presumptuous smart jackasses who claim to know about stock market.
I hope for your sake that you're just a short trying to convince us to sell (which, in spite of all the ALL CAPS and EXCLAMATION POINTS generally used by shorts,does nothing but announce their level of intelligence). Because it's either that or you may be the dumbest guy on the planet (okay, second dumbest; I don't think anyone could take that honor away from our pre-adolescent friend TTFEDX).
Anyway, on what do you base this $70 target? Did you actually think before you spoke, or would that be too traumatic for you? The last two weeks were the hardest time the Nasdaq has recently seen. We had the biotech blow up, we had the Fed uncertainty, we had a bunch of economic data out, etc. Through all of that FFIV held its support level. It bounced off 85-88 time and time again without fail during the worst sell off we've seen in months. Yet for some reason, you're telling us that now, with earnings around the corner and no dark clouds over the market, FFIV is going to suddenly break the support level it has maintained for months.
I understand that FFIV trades in a very predictable pattern and does indeed present short opportunities at certain levels (very limited opportunities). But the reality is, shorting under 95 is foolish. Nothing is on your side. You would have to have TTFEDX's uncanny ability to short at the exact daily high everyday and cover at the exact low. Only TTFEDX has consistently shown the ability to do that (funny thing though, he always seems to tell us that only after the fact; hmmm.) In fact, he is so good he can short at the high and cover at the low even if the low occured before the high.
If shorting is your style, fine. But you've picked a bad level to try it. Not to mention, if you had any real gonads or financial power you'd be shorting a highflier. But hey, if I had your level of intelligence, I wouldn't be too aggressive either.