My favorite style of humor today is the anti-joke, and no one is better at it than Norm MacDonald. His roast of Bob Saget is legendary, and YouTube consistently knocks down any attempts to post it, but it looks like someone has obfuscated it badly enough that they’ve gotten away with it for now. So………..enjoy:
Here are five technology stocks to watch with strong technical momentum.
Cree, Inc. (CREE) had a big day on Tuesday, exploding up out of a three-year base and gaining 9%, or $3.70, to close at $41.76 on extremely heavy volume of 6.3 million shares traded — more than four times its average volume. The move came with news of the LED product company’s buyout of chipmaker Infineon, a move anticipated to increase revenue and profit margins in its Wolfspeed power and RF division. This is the highest price the stock has seen since September 2014. Next target: $44.
Cypress Semiconductor Corporation (CY) broke through a double top consolidation pattern, moving up 43 cents and closing at $18.07 on heavy volume of 9.3 million shares traded Tuesday. The company announced that its CFO will present at two investor conferences next week. The stock has gained more than 30% over the last year. Next target: $20.
Preface to both parts: Weird trading day, isn’t it? The Gary Cohn plunge from last night was completely reversed, we closed the gap perfectly, and then started weakening again. I sold into the strength, selling 22 new positions short. I am sharing half of them with everyone and the other half with PLUS members only. Here are the SlopeCharts of these new positions:
Well, the world seems to be treating it as a huge surprise that Gary Cohn is ditching the White House, even though he’s been dropping broad hints about it for a while now. Sadly, the marvelous plunge we saw instantly when trading opened Tuesday night has been cut about in half. The markets are still down, sure, but not nearly as much as before.