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BRCM is not acting well
- Thread starter a529612
- Start date
its been falling sense 3/6/06.. support at 38.20 maybe?
- nate
- nate
nothing is wrong with brcm
it had an unbelievable run....then split...rallied to 48
if I remember correctly brcm ran 13dollars on its report..
so the split was done on a bs rally in my oppinion.
I personally see brcm 30-35 and am not just starting to write puts..am doing the same with rmbs....same range
This is where I find it hard to understand alot of ET traders where a lot of the traders only have long positions and will either double down, pick up more, scale in...what ever you like to call it....
our traders must learn to be comfortable with both long and short positions......with most stocks having had crazy rallies since jan...these pull backs are necessary.
I hope you don't get to hurt...
good luck with your trade.
w
it had an unbelievable run....then split...rallied to 48
if I remember correctly brcm ran 13dollars on its report..
so the split was done on a bs rally in my oppinion.
I personally see brcm 30-35 and am not just starting to write puts..am doing the same with rmbs....same range
This is where I find it hard to understand alot of ET traders where a lot of the traders only have long positions and will either double down, pick up more, scale in...what ever you like to call it....
our traders must learn to be comfortable with both long and short positions......with most stocks having had crazy rallies since jan...these pull backs are necessary.
I hope you don't get to hurt...
good luck with your trade.
w
Quote from kowboy:
It received a downgrade last week and it's been falling ever since.
Not just "A" downgrade. As far as I know almost all analysts (with the exception of UBS) have become less excited about BRCM since their last ER. The stock was simply overvalued for what the company expects to earn this year. We are now starting to get close to where it should be.
On the other hand, a short term bounce is likely before it settles back down around $38-40.