I am truly amazed at what is going on in the networking space. Stocks no one wanted to touch with a 10 foot pole 1.5 weeks ago are being piled into as if there is no tomorrow. (see CAVM, FNSR for examples) I am incredibly curious if there is some massive algo that reads if copper rises then buy networking stocks - there must be. Student body left trading is awesome.*
* I lie.
Most of the names I like have shot up so fast I don't want to chase them, but NetLogic Microsystems (NETL) - which I sold out of not too long ago - has jumped back over all key resistance areas ... but has not gone ballistic like some of the other names. Hence if there is a reversal in the market we don't have mountains of air space underneath like some of the other stocks.
I am going to restart today around $30.00 with a 2% allocation but keep a tight leash. Below $28.50 and I'll be back out.
Long NetLogic Microsystems in fund; no personal position