Discussion in 'Trading' started by dmr, Jun 21, 2005.
Where do you see TXN going in the near future. It's been real choppy lately.
My vote would be that it is more likely to go down than up at this point, it looks like it is near the top of the current wave, and that a downwards retracement will be coming soon.
I see TXN going up, then down, then up, then down again. It might start down first though.
I predict it will hit between 30 to 33 in the next 3 weeks. (today is june 22.)
Many traders like to play TXN these days since they see it as a safe bet to either short it or go long. Many traders just trade it on pennies. All good news are priced in. All upgrades,midterm outlook. Rememebr it was 23 a while ago and then it rallied to close to 29 and then it dropped to below 27 and now the second phase of investors are hoppoing in as they see it as a buy but I believe the chance that it will go down is higher. We will definitely see 25 in two months frame. TXN volume was good today but everything else that I am following has low volume and soon (I mean very soon) TXN will follow the market. I am more in favor of strong utilities stocks with above 2% dividened. I consider shorting TXN a safe bet.
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