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.
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
My feeling is there will be a chance to get in on an intra day dip tomorrow a.m. but i've still got LOG running so my brain may overload ... not difficult after a boozy bank hol weekend.
Good luck guys
Chip designer Arm Holdings could prove to have muscle if there is an upturn in the semiconductor market according to ‘The Investment Strategist’ in the Daily Express. He says the shares, 318.75p, should reach 380p.
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
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