Tuesday, July 12, 2011

Tech Stocks Get Hit

MCHP dropped 12% followed by EGHT, LCOM, MSPD, BRKS, DIOD, ENTR, ARUN, ASML, VDSI, MSCC, JKS and ADI (-5%).

DNS -59, -21, -6. LULU split. AEA added on another 6%.

Trades: none.

One third of my positions were up for the day with no stop loss sales. Kind of odd given the indexes.

Reversal alerts: (2).

CHRM alerted on the HLR script. It's a Chinese company with earnings expected to double recent highs next quarter (triple the MRQ), has five quarters of sequential sales growth, 85% and 48% YoY sales growth for the last two quarters. P/E falling from 24 to 12.7. It may be worth a look or watchlist entry.

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