Wednesday, June 16, 2010

Bookkeeping: Restarting NetLogic Microsystems (NETL)

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I am truly amazed at what is going on in the networking space.  Stocks no one wanted to touch with a 10 foot pole 1.5 weeks ago are being piled into as if there is no tomorrow. (see CAVM, FNSR for examples)  I am incredibly curious if there is some massive algo that reads "if copper rises then buy networking stocks" - there must be.  Student body left trading is awesome.*

* I lie.

Most of the names I like have shot up so fast I don't want to chase them, but NetLogic Microsystems (NETL) - which I sold out of not too long ago - has jumped back over all key resistance areas ... but has not gone ballistic like some of the other names.  Hence if there is a reversal in the market we don't have mountains of air space underneath like some of the other stocks.



I am going to restart today around $30.00 with a 2% allocation but keep a tight leash.  Below $28.50 and I'll be back out.

Long NetLogic Microsystems in fund; no personal position


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