Many tech stocks are short term SELL now

Discussion in 'Stocks' started by hajimow, Jul 27, 2010.

  1. As of 9:45AM ET Tuesday 7/27. Wait for a 2%-4% pull back.
    My list is TXN, LLTC, ADI, QCOM, ALTR, CRUS.
  2. They have good technicals but they went up too fast. Pull back is imminent. It will happen today. The fourth day that the market is up and many will use today to take profit. Today is not a buy day.
  3. The Ex dividend date fot TXN is tomorrow 7/28. The amount is 12 cents. Tomorrow TXN will drop more than 12 cents. I believe if you are long TXN, it is wise to sell today and not get the dividend as you have to pay tax on dividend but if you lose on a trade, you can offset your gains with that. You cannot do it on dividends.
  4. We'll see how this works out, but I like the analysis.
  5. I believe selling pressue will start again at 10AM ET
  6. Reason is that the first half hour small buying pressure will be from greedy small short coverings from yesterday's highs and from "wow that's a low price" novice buyers. Then lack of buying will drag down the market lower.
  7. A nice 200 point Dow retrace would be a good long re-entry point. The Friday GDP release could be ugly at 1.5 vs. 2.5 consensus and get us down to a nice buying area.
  8. Something that will drag the market down (not crash) from here or at least will cause it not to rally is the lack of buyer's commitment. I say to myself, why should I buy it now? Cash and in sidelines is better.
  9. PRE-MARKET is up now. 9:14 ET. Selling pressure should continue today. I believe.
  10. S2007S


    Semis are weakening.

    #10     Jul 29, 2010