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Pity we've got the bank hol on Mon.
I thought 350 was possible earlier in the thread and still do but the spread on tuesday could be prohibitive for big profits. On the other hand Arm must be getting into dangerous overbought territory so maybe its best to see what the US does Mon. I,m still out having last sold at 299... what a clot... don't you dare laugh Riz.
Steve
I thought 350 was possible earlier in the thread and still do but the spread on tuesday could be prohibitive for big profits. On the other hand Arm must be getting into dangerous overbought territory so maybe its best to see what the US does Mon. I,m still out having last sold at 299... what a clot... don't you dare laugh Riz.
Steve
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from just a charting point of view I feel that 400p is a distinct possibility - it would make a measured move up from 200p with a nice bull flag half way...
Hehe..
Sorry Steve, I really did try not to laugh as you asked, but couldnt help it, every time I open this thread I smile like this
Let's first read this:
Semiconductor stocks also plowed higher after Philips Electronics CEO Gerard Kleisterlee told a news conference that he believes semis are trending toward stabilization, if not an upswing.
"The decline of the semiconductor market has bottomed out," Kleisterlee said, speaking at the IFA consumer electronics fair in Berlin.
The Philadelphia Stock Exchange's Semiconductor Index soared 34.54 points higher, or 6.16 percent, to 594.91.
Now, ARM jumped from 200 to well over 300 on its merits when semiconductors were downgraded day in day out...so one should easily imagine where they may head on such positive comments on semiconducters and markets in general...
Anyway we're preapared arent we? BUY on the dips, remember?
By the way Steve I saw Sir long on ARM in the chartroom speaking in praise of its strength, looks like you and Mark lost in that respect too
Riz
Sorry Steve, I really did try not to laugh as you asked, but couldnt help it, every time I open this thread I smile like this
Let's first read this:
Semiconductor stocks also plowed higher after Philips Electronics CEO Gerard Kleisterlee told a news conference that he believes semis are trending toward stabilization, if not an upswing.
"The decline of the semiconductor market has bottomed out," Kleisterlee said, speaking at the IFA consumer electronics fair in Berlin.
The Philadelphia Stock Exchange's Semiconductor Index soared 34.54 points higher, or 6.16 percent, to 594.91.
Now, ARM jumped from 200 to well over 300 on its merits when semiconductors were downgraded day in day out...so one should easily imagine where they may head on such positive comments on semiconducters and markets in general...
Anyway we're preapared arent we? BUY on the dips, remember?
By the way Steve I saw Sir long on ARM in the chartroom speaking in praise of its strength, looks like you and Mark lost in that respect too
Riz
Yes, I took my advice and watched for a while...so the question now is whether 277 low enough to get back in and what the new price target can be...
As Sir has put his bear hat back on we can easily gues he'll be predicting 200 to 250...only if he banks on his prediction and we witness a reaction/recovery rally next week, he may have some problem pocketwise
US will be closed on Monday, I think UK can neither start a rally nor a tank without the US...so it will probably be flat to slightly positive, and so will ARM be...
This of course will leave us with another question about the sentiment in US on Tuesday to use as a guide to trade ARM...we need Steve to answer this question
Riz
As Sir has put his bear hat back on we can easily gues he'll be predicting 200 to 250...only if he banks on his prediction and we witness a reaction/recovery rally next week, he may have some problem pocketwise
US will be closed on Monday, I think UK can neither start a rally nor a tank without the US...so it will probably be flat to slightly positive, and so will ARM be...
This of course will leave us with another question about the sentiment in US on Tuesday to use as a guide to trade ARM...we need Steve to answer this question
Riz
Although the status quo will be maintained on Monday i feel certain an opportunity to go long intraday will arise. I had a small success on Fri ( beer money ) and think Mon will be the same. I've just been waiting for the upward momentum to start slowing and getting out quick, same thing with LOG, i keep kicking myself for not hitting the intra day top but at least i'm not getting burnt.
I just wish Sir would let me know when he is going long or short so i can do the opposite
Steve
only kidding Mark hehehe
I just wish Sir would let me know when he is going long or short so i can do the opposite
Steve
only kidding Mark hehehe
Hi Steve,
267 is the trough between the 2 tops formed in august, chartwise it will suggest a loss of 60 point or more if broken down end of day basis...
Today it bounced twice from 272 however, so on intraday basis 272 is worth to watch, it might form the basis for further bounces...
I am on the sidelines right now, good luck if you're hunting
Riz
267 is the trough between the 2 tops formed in august, chartwise it will suggest a loss of 60 point or more if broken down end of day basis...
Today it bounced twice from 272 however, so on intraday basis 272 is worth to watch, it might form the basis for further bounces...
I am on the sidelines right now, good luck if you're hunting
Riz
Intraday support of 272 broken as ARM closed the day at 268.5 (-8.5)...this leaves us with the question of 2 top at 327 and 267 trough...ARM has nearly touched it I am afraid, if it breaks this support level end of they basis, end of uptrend and beg. of a new downtrend could start with a trend range of 207-267...a bounce up at the current level however will keep the channel 267-327 intact however...
We all know ARM is a strong but sentiment driven share, so it looks like the sentiment and momentum in general will determine which one of those 2 range arm will trade in from now on...
Riz
We all know ARM is a strong but sentiment driven share, so it looks like the sentiment and momentum in general will determine which one of those 2 range arm will trade in from now on...
Riz
Attachments
Hehe...almost, that's because the ball was a bit dusty, Steve
In the mean time I had another look at it's ARM spot, looks like ARM tested our 267 not only once but many times and bounced up from it every time till it was broken on Thursday causing ARM to go down all the way to 240 where it bounced up only to retest and rebounce from it on Friday all the way to our 267 which acted as resistance and pushed arm back down before it ended the day at 255...
So now we're in the lower channel with 267 as strong resistance and 240 short term strong support if the negative sentiment carries on longer than days, say weeks expect arm to test the bottom of the channel which should be around 207, still arm will be able to retest 267 on any strong market sentiment...
Bollinger Bands widening up suggesting further volatility with bigger movements...
RSI although ticking up still on a down channel below 50 line which also looks to be resistance...
Volume fairly high and slow stochastics ticking up at the oversold area, needs to see a cross over to suggest a proper direction however...
Well now that we got a few numbers to watch, I'd better give the ball back to Steve
Riz
In the mean time I had another look at it's ARM spot, looks like ARM tested our 267 not only once but many times and bounced up from it every time till it was broken on Thursday causing ARM to go down all the way to 240 where it bounced up only to retest and rebounce from it on Friday all the way to our 267 which acted as resistance and pushed arm back down before it ended the day at 255...
So now we're in the lower channel with 267 as strong resistance and 240 short term strong support if the negative sentiment carries on longer than days, say weeks expect arm to test the bottom of the channel which should be around 207, still arm will be able to retest 267 on any strong market sentiment...
Bollinger Bands widening up suggesting further volatility with bigger movements...
RSI although ticking up still on a down channel below 50 line which also looks to be resistance...
Volume fairly high and slow stochastics ticking up at the oversold area, needs to see a cross over to suggest a proper direction however...
Well now that we got a few numbers to watch, I'd better give the ball back to Steve
Riz
