Everyone seems pretty sure sugar is going to go up in price in the near future. This would be good for Imperial Sugar I would think.Can investing be so simple? I'll look more into the name. ~stoney
Next time listen to me... your stopped out stoney. It went right to my zone, struggled then dropped. Looks like the short was the better trade
Apex nice call. Wow stonedinvestor F*ed up. Not only that- I'm guilty of not following the pick closely enough. I have a larger position in Garmin that's doing well so I wrongly assumed little downside for SIRF because the GPS market was sound. Competition. We all knew it was coming but by some sick twist of fate it came before Christmas. The GPS market is huge and ever growing I don't see this as a big problem for SIRF. With the new market opportunities ahead in wireless there's room for another player. Let's remember SIRF had 80% market share- that's unrealistic. But the Street is fickle.
I respect you for accepting your call. Its hard to find that in this business. If you can make money off of intuition and fundamentals my hat is off to you. Whenever I formed an opinion on trades with news etc my trading plan goes out the window and I end up not cutting my losses. I am sure GPS is a new up and coming market and sirf will do well, I just want to wait and buy it at 24.73 or 21.86.
I gave you the short term top and now I have given you the short term, possibly long term bottom. Sirf stopped at the 24.73 buy zone, DB and is now trying to head up into resis( pink levels) If it can get above those, it has good odds of getting up to that 45 level. Most likely move up to those pink levels and retest the blue zone again and maybe move down to the second blue area.
There it is... Sirf now trading up into first resistance at $28-29.23. Projected buy price over a month in advance was 24.44, the low was 24.29, 15 cents off. Here is the updated chart from the first post.
Apex you are playing SIRF like a fiddle. Of course I am back to cost- actually a bit ahead and haven't had to trade the stock 4 times to get there, but lets give props where props are due. Nice job. Now the real question... How Soon Do We Hit $44? ~ stoney
Well Apex for what it's worth the hedge fund that my family uses and that I do a lot of work with> they have in the same e-mail asked me if I still want to hold SIRF, or add to it and told me that they have just bought it for their small cap aggressive fund. I would think that's the " all clear " you have been waiting for. ~ stoney
Apex this is no time to go quiet on me- did you listen to the stonedinvestor?- SIRF leads Nasdaq pre market % gainers +$4.42 or 19% after a strong earnings report......