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 Technology Stocks : PLX Technology Inc (PLXT)

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To: Taro who wrote (6)7/16/2004 1:21:26 PM
From: VIXandMoreRead Replies (1) of 10
 
I haven't listened to the CC yet, but apparently they lowered Q3 revenue guidance by about 10% and said gross margins would fall about 2-3% in that quarter as well. Ugly, but perhaps overdone. I'm taking my cue from the charts for now.

A fair retracement from this morning's disaster, up from 8.20 to 9.70, toward the top of the day's range and perhaps setting up a for a bullish hammer. I nibbled at 8.90 -- and wish I had added some more.

You can also play the options here, perhaps selling some covered calls or going long the 10.00 calls if the bounce back looks like it will hold. Good trading.
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