Yes, Your Honor
The big announcement is out. The 5:00PM ET deadline must be met, but they
will accept some supplemental ballots. What exactly does that second part mean?
More importantly, what does it mean for traders? I think that it keeps the
uncertainty level reasonably high.
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Today’s Watchlist:Â
(
CMOS |
Quote |
Chart |
News |
PowerRating),
(
TXN |
Quote |
Chart |
News |
PowerRating)
Credence Systems
(
CMOS |
Quote |
Chart |
News |
PowerRating) is trying
to rally out of a low-level consolidation pattern. After spending a few months
trading near its lows, it is finally moving above the high of the trading range.
This breakout may result in a move to the next resistance level, roughly 2
points higher. The last two trading sessions have been backed by reasonable
volume. Watch for a close above the resistance level and set your alerts
accordingly.
While the semiconductors have been rallying for the last two
days, and are up 5% again today, they have taken a few significant hits.
Texas Instruments
(
TXN |
Quote |
Chart |
News |
PowerRating) is trading up into resistance. It
tested its lows once again on Monday and held up. The buyers came in and sent the
stock higher. The problem, though, is the bigger-picture downtrend. Add this one
to your watch list and watch for a failed move above the resistance level. On
the long side, you should watch for a breakout above resistance. It is likely
that there are some buyers hiding in the wings, as the stock has been beaten
down for several months.
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Until later,