Semiconductor and Wireless Play...
11/15/2006 9:25:38 AM
We are making a trade recommendation here on a semiconductor company that provides chips to the wireless and broadband markets. This is a communications play.
Chart of Skyworks Solutions, Inc. (NASDAQ:SWKS)
Business: SKYWORKS SOLUTIONS INC, (SWKS) designs, develops, manufactures and markets proprietary radio frequency, microwave frequency and millimeter wave frequency integrated circuits and discrete semiconductors for wireless voice and data and broadband communications.
We are going to enter a long trade today, but we will delay our entry by between 15 minutes to an hour or so. I will send out an intraday alert to indicate where you should enter the trade. Hopefully, we can get a brief pull back on opening weakness in the markets.
Our stop loss will be at $6.70 initially and we will move it up regularly. Our target is to get an entry below $7.00 and specifically below $6.90 if possible.
We need to exit our SPY position today and will try to get out as close to $139 as possible. This will result in a loss for this trade, but the market clearly is continuing in the bullish uptrend started four months ago.
Please feel free to send emails with any questions you may have.
Regards and Good Trading,