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
Wednesday, June 16, 2010
Bookkeeping: Restarting NetLogic Microsystems (NETL)
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows