Hi Riz & ARM followers.
I've just been looking at ARM and thought that I'd post my thoughts. Somewhere along the line I've got a target of around 130p. If there are any P & F Guru's out there please show me the error's of my ways.
I am not holding or shorting ARM
Well, after getting in at 264 and out for +15 last time, I traded arm a few times on intraday or intrahour basis...arm got strong support at 200 and resistance at 220 at the moment...it's a sentiment driven share, but very strong one...short or long I wouldn't hold a longer time position on arm at the moment...as for the chart I wouldn't read too much on it as to establishing long term targets, till we get a trendy market on techs...
One other thing is not to get carried away with shorting enthusiasm, it can also hurt, especially on shares like arm...and once more, the sentiment in US is not like the one in UK at all, they are looking for signals of future recovery...whereas UK is full of doomsters...watch it, you wouldnt want to be short on any techs when you wake up one morning and find out that Nasdaq futures are up big time...good luck
I concur with your view especially the point about US sentiment being different.
Having talked to many Americans, i have worked with, it was apparent that they are far more dependant on direct involvement in stocks than the average Brit for their pensions. It sounds ridiculous but their stated goal was to achieve a portfolio of a least $1 mil for their retirement.
Yanks talking big ? maybe but i can understand their desperation for market reversal.
I,m not talking about traders here but ordinary company employees who depend on their share options etc. Maybe thats the reason for Greenies very risky rate cutting ... keep the voters happy and sod the threat of inflation ... can't really see Brown doing that can you?
ARM up +27 (13.2%) at 232 breaking through resistance on big volume of 30,564,346 and starting to fill the gap down area...previous strong support level at 245 may turn into resistance...once broken 260-5 could be the next resistance level...
I didn't get in ARM today as I was too busy piling in baby PON
Reporting interims on the 23/7/01, if no worse than predicted, will lift the price no doubt, still a bit of a gamble, is it worth holding as any price increase will be to quick to be taken advantage of, usually.
You're right it's risky to hold all the way to interims, but it's worth to hold so long as the market sentiment is +ve and if one has the means making use of intraday or short term bounces...that's been my position on arm for a while...
Sorry couldnt resist this post, look whos mentioned at the bottom of ARM's latest news release.....
ARM Holdings PLC
18 July 2001
18 July 2001
Arm Holdings Plc ("the Company")
Disclosure of Interest in Share Capital
The Company received notification on 17th July 2001 by The Capital Group
Companies Inc., on behalf of its affiliates Capital Guardian Trust Company,
Capital International Limited, Capital International S.A., Capital
International, Inc. and Capital Research and Management Company, that, as at
11 July 2001, The Capital Group Companies, Inc. has an interest in 41,179,618
ordinary shares of the Company representing 4.1% of the issued share capital.
The shares are registered as follows:
Up 33 (16.4%) to 234 after reassuring the market with top-of-the-range second-quarter numbers and a reiteration that full-year expectations would be met.
"46 pct rise in second-quarter pretax profits to 12.2 mln stg and a 56 pct jump in revenues to 36 mln, exceeding most analysts' forecasts. Brokers had expected sales of 32.5-34.3 mln stg and pretax of 9.7-12.5 mln stg."
Saying strong sales of licences and development systems allowed it to "remain confident" in its second half outlook, despite predicting flat royalty revenues for the rest of the year.
"It's all you could have asked for given the current environment," commented Robertson Stephens analyst Gary Kelly, who reiterated a 'buy'.
Deutsche Bank was also repeating 'buy' advice, as did joint house broker ABN Amro.
Still Credit Suisse First Boston, UBS Warburg and Teather & Greenwood reiterated 'hold' advice, while Williams De Broe kept a 'sell'.