Bought back half my position at $5.05 and $5.06 (total of 40,000 shares). Risk/Reward is compelling based on "what we seem to know". Mgt. has been honest since I started investing in this stock late last year (took a big position at $3.95 and sold in early May with about a 40% gain for my entire position).
I feel this has to do with the Samsung news coupled with the PUKES (as you will see SWKS and TQNT have traded better today but they don't have CROOKS like we do in the stock and this stock is manipulated worse so I feel the reaction has been extreme.....Samsung sold off 6% so even if the news effects us I have no clue why we should sell off 50% of that since Samsung doesn't represent 50% of our business and my gut tells me the effect will be minimal this quarter if any and next quarter I am hopeful the APPLE news makes up the slack).
Bottomline........with all the good news since late last year and the stock only up about 25% this sell-off makes little sense to me. Even after we disappointed last year the stock dropped to the mid 3's which would be low 4's if you factor in overall market gains so the price at $5 appears to be a bargain.
We have been down every day this week so we have to be approaching oversold as well (I believe we are down like 12 of the last 15 days as well......Pukes have done their job !!!).
Obvious they wanted to take us here until the Davidson upgrade so they finally got what they wanted.
I hate this time of the year but at this level I am going to take a shot and hold it until next April if I have to and my feeling is we hit $7 by early next year but might see $4.50 first (if market corrects).
Plus, FINGENIUS SOLD so that tells me we are close to a bottom and probably hit it today or Monday and reverse hard middle of next week is my guess (maybe the APPLE conference helps us....who knows). Maybe a couple of buy reiterations confirming todays action was overdone !!!!
Currently the stock is $5.03......YUCK !!!!! I hate the PUKES.
Beans....this game is all about "odds" and today was an opportunity in my opinion.
How many times have we seen "this type of garbage"........if this was another stock I wouldn't have "touched it" on a day like today but this is RFMD and truly market movement most of the time does not correlate with anything. LETS FACE IT.....did the stock deserve to go from $5.12 to $5.65 after the Davidson upgrade.....if so, that same guy just put out a note that this will not have an impact on RFMD (lets face it the guy talked to mgt before he put out that upgrade so he probably knew about this and why he QUICKLY put out a note......I felt that wasa GREAT SIGN and who knows we might get a reiteration or two of a buy on Monday morning......trust me, days like today this STOCK STOOD OUT so you might see an analyst or two re-visit it and reiterate a buy....REMEMBER QUALCOMM news.....took it down 80 cents or so that day !!!!! Look at what happened after that.......to me this is "more of a stretch" as I doubt RFMD had more then 20 million this qtr (which they will hit) and 25 next qtr (which they will be 5 million short.......which will probably be made up somewhere else.....most likely the APPLE ramp up.....AGAIN, why RFMD was so confident on TUESDAY).
Wish we reversed today and closed close to even like SWKS but most likely we have to go down on Monday and reverse.......this stock never holds a GAP UP so we are going down some before we go up......my hope is the reversal starts early morning and continues through the day (like the SWKS chart) and we close UP FOR THE DAY.......that would put us in a good position for TUESDAY as we have been in a downtrend for 3 weeks with the exception of the Davidson upgrade......and we gave that back and more today !!!!
Do you ever truly ever add anything of value ???? Also as an FYI as long as you are around that is an exercise I never need to master......that is what low lives like you do to make some extra money when you aren't posting worthless messages......sorry guys couldn't resist as it would be nice to get rid of the worthless posters like this guy or gal.