On Fire
Today’s Watchlist:
(
TXCC |
Quote |
Chart |
News |
PowerRating),
(
CRUS |
Quote |
Chart |
News |
PowerRating)
Fiber optics are on
fire today, based on positive earnings announcements. Transwitch
(
TXCC |
Quote |
Chart |
News |
PowerRating) is
moving along with the rest of the group. On the daily charts, TXCC has set a new
high on moderate volume. Conservative traders will look for a new high followed
by a continuation move on Monday.
Daytraders might
also want to glance at the five-minute charts, where we see an intraday
consolidation pattern forming. Look for a breakout from this pattern to offer a
trading opportunity. Set you alerts near the top and bottom of consolidation.
 
Cirrus Logic
(
CRUS |
Quote |
Chart |
News |
PowerRating)
in the once again popular chip group is also rallying to a new 52-week high (not
all-time). In this case, it would be good to look at the group along with the
individual stock. Look for CRUS to close at a new high and then head higher
again on Monday. We may see a pullback next week following this strong rally
that we have seen.
 
Until Monday,
David Baker