Wednesday, May 8, 2013

Are chips stocks heating up? Updates on positions.

The only immediate set-ups I see from the chart voo-doo (technical analysis) are:

1.  CRUS actually looks strong. Should get to $25 in next few weeks. ($21.11 as I type, and I'm buying half-allocation)

2.  AMD is breaking out at $3.70, target would be $4.30; while I usually avoid stocks under $10 this one has decent volume. No position.

3. Others are close to their near-term highs (where sellers have come in before) so I'd be patient based on the charts.

4.  I plead ignorance on fundamentals of these companies, but it I infer from the buzz that the sector is heating up. (???)

Disclosure: I own INTC since December as part of the Dow Dogs dividend strategy, and will hold. Stop-loss is currently at break-even but should be raised.

Unrelated, as per my last entry:

a) I went long UA at 51.75, currently up 12%, and have reset by stop-loss at 53.50.

b) holding XLE, avg cost is 72.60, adding on dips.

New holdings in last couple weeks: BKCC, FEU, KMP.  

FWIW, I like EWW and IYM right here, but I'm not adding since I already have a full allocation in these. 

I've recently sold MSFT for +3.75, 

I wish I'd bought CAT, I had a standing order for a buy at 79.50 and it never triggered even though my computer has a print price of 79.49 last month. Now it's above 89. D'oh.