LSI Logic Corporation (LSI). The Group's principal activities are to design, develop and manufacture high-performance integrated circuits and storage systems. The Group operates in two segments namely, the Semiconductor segment and the Storage Systems segment.
Let me show you a all history chart for LSI:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=809;image)
Over the medium term we see the stock found strong support on the $4 level and is making an attempt to design a multiyear double bottom (far from confirmation. Yet):
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=810;image)
Yesterday's action was very encouraging. It was the second strongest volume we've seen this year with a powerful engulfing candlestick pattern:
(http://www.3stocksonfire.org/trading/index.php?action=dlattach;attach=811;image)
So I'm buying LSI at the open. I will be with 15 holdings in my portfolio, which is the maximum we allow. But I'm selling some stocks too. I've already said which ones from my portfolio I'm going to sell, just check the answers of the buying posts.
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David-
Will you be waiting for the gap to close before buying this morning?
Thx
No, I'll buy at the open price. But I won't act on the pre-market.
I'm doing this because the open is set to be above a little resistance level so the stock may push higher just right after the open.
Good luck AustinPowers !
David, do you have a rule of thumb as to buying only at the open and not in the pre-market?
I got in @ 7.89. Thanks for the info.
Bought LSI @$7.80
RichL74-
Buying or selling in extended hrs. trading is something you just do not want to do, period. As for buying AT the open, every trader has their own style, but I NEVER buy during the first 30-45 minutes of trading. I wait for the euphoria to subside and then make a decision. We are always looking for trends and often the "trend" in the first 30-45 minutes of trading
is not reliable. But everyone has their own style, and that's what makes a market.
The Irishman
News from Friday: ;D
LSI Logic boosts revenue guidance
By Matt Andrejczak, MarketWatch
Last Update: 4:14 PM ET June 10, 2005
SAN FRANCISCO (MarketWatch) - LSI Logic Corp., a maker of chips for consumer electronics gear and computer devices, boosted its second-quarter revenue guidance Friday.
LSI raised its sales range to $465 million to $475 million, up from its prior forecast of $450 million to $465 million. The company attributed the more upbeat forecast to demand for its products used in storage components and DVD recorders.
If LSI hits the mid-point of its estimated range, sales would rise 5% from the year-ago period. Right now, analysts polled by Thomson First Call project revenue of $458 million.
Shares of LSI (LSI: news, chart, profile) rose 30 cents, or 3.9%, to $7.91.
Based in Milpitas, Calif., LSI makes logic chips for disk DVD recorders, portable music players, disk drives and computer servers. The chips can be programmed to perform specific tasks.
In the first quarter, the company benefited from sales of DVD recorders, Sony PlayStation 2 video-game consoles, and Apple Computer's iPods.
LSI is under new leadership. Late last month, former Intel executive Abhi Talwalkar was named CEO. Analysts say his immediate challenges will be boosting the company's profit margin and cutting expenses. See full story.
LSI will report second-quarter earnings July 27.
Cheers
O.
We have a perfect setup for price appreciation in LSI. Technically the stock closed Friday at a new 52 week high. Fundamentally we'll be trading a buy the rumor scenario, one of those I love most.
As la-onda transcribed LSI boosted guidance for its revenue target for the quarter. It will report second quarter earnings July 27. From now until July 27 everybody, if nothing new comes out, will speculate earnings will be higher than expected.
Buy the rumor, sell the fact, working for hundreds of years in Wall Street.
I don't have any rule of not acting on the pre-market but I prefer not to, only in cases where that attitude will undoubtedly bring me profits, like it happened with IIJI when I bought shares in the pre-market climbing 11% - I was sure it was going up a lot that day.
But less liquidity doesn't favor a trader like me that prefers to buy and sell at the market, not with price limits.
Quote from: David Randolph on June 12, 2005, 11:29:48 AM
I don't have any rule of not acting on the pre-market but I prefer not to, only in cases where that attitude will undoubtedly bring me profits, like it happened with IIJI when I bought shares in the pre-market climbing 11% - I was sure it was going up a lot that day.
But less liquidity doesn't favor a trader like me that prefers to buy and sell at the market, not with price limits.
Thank you for the tip. Looking forward to many profitable trades.
Hello all,
http://stockcharts.com/gallery/?fuel
is there a negative divergence???
Comments to this chart are appreciated.
Still long
O.
LSI Logic Boosted By Consumer, Storage Businesses
06.13.05, 2:33 PM ET
Lehman Brothers reiterated an "overweight" rating on LSI Logic (nyse: LSI - news - people ) and raised the target price to $10.50 from $9.30, citing near and medium-term strength in the company's consumer and storage businesses. The research firm said it wasn't surprised LSI raised the second-quarter revenue forecast. Management's new revenue guidance midpoint is now $470 million, which is $12 million more than the consensus of $458 million. "We believe LSI's fundamentals will continue to strengthen as a result of near and intermediate term demand strength from its consumer and storage businesses," Lehman said, adding that the company is likely to maintain a dominant market share position in both markets. Lehman raised the second-quarter earnings-per-share estimate on LSI to 10 cents from 7 cents. For full-year calendar 2005 and 2006, the research firm raised the earnings-per-shares estimates to 55 cents and 78 cents, respectively, from 43 cents and 66 cents.
http://www.knobias.com/individual/public/news.htm?eid=3.1.2f7b32e70abe7eac533a0089de572993e88d1997bb01b6f407da17d2a5a72267
sorry, I have posted the wrong link.
Now the correct one:
http://www.forbes.com/markets/2005/06/13/0613automarketscan17.html?partner=yahootix&referrer=
I'll probably hold LSI until its quarterly earnings release at 30th of July so I have no comments for today's action.
also insider buying:
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=3523490
;D
LSI made a pullback on low volume and held the support at $7.85. It is possible for the stock to come close a little gap at the $7.62-$7.66 area but that won't disturb me if it happens.
On the 13th of June like la-onda posted a director bought 500,000 shares so it's legit to suspect and discount that second quarter earnings, which will be presented on July 27, will be higher than expected.
La-Onda....Actually, what that form says is that the CEO was given an OPTION to buy 500K at $7.94 until 6/13/2012, so that doesn't mean he is buying them right now (RIGHT TO BUY, NOT BUYING RIGHT NOW !!!! )...
LSI went down and tried to close that little gap I mentioned but it couldn't. That's actually bullish behavior, there were so much stocks to be bought near that level that competition between buyers didn't let the $7.62-$7.66 area be reached.
Not a problem, I'm a bull in LSI until the earnings release in July 27th.
Bulls are still bidding LSI higher. We are expecting strong results from the company in July 27th so it seems there won't be any reason to sell until we approach that date.
Ok, I'm getting a reason to sell: the stock is losing momentum. I think that she came so far from the bottom that she won't leave the opportunity to close a gap that I show below. But I'll be a seller on that gap close, not because the stock isn't bullish, it is, I just think there are faster horses out there. Even economists know that capital goes where the highest rate of return is :D
Not selling LSI. The stock came down to milimetrically close a minor gap and recovered near the end of the session - that's a bullish behavior.
After that "close the gap" trip LSI came back yesterday. There's reason to believe $8.39 is on reach.
Certainly there was no new technical information from today's market action on LSI. We've had this news from the company:
Fujitsu, LSI Logic, Supermicro and Bell Microproducts Deliver First Serial Attached SCSI Solution (http://www.marketwatch.com/tools/quotes/newsarticle.asp?siteid=mktw&sid=2801&guid=%7BBCAE26C2%2D547C%2D4E47%2DAAD4%2DB7420292F225%7D&symb=)
I'll hold the stock.
I've sold LSI at the $8.39 level. The stock closed a gap at that point, I don't know why she was up so much today. I got an 8% profit, not much, but I followed a previously made trading plan.
Quote from: David Randolph on June 18, 2005, 01:42:08 PM
Ok, I'm getting a reason to sell: the stock is losing momentum. I think that she came so far from the bottom that she won't leave the opportunity to close a gap that I show below. But I'll be a seller on that gap close, not because the stock isn't bullish, it is, I just think there are faster horses out there. Even economists know that capital goes where the highest rate of return is :D
David,
What I really like about you and learning is your discipline to stick to the plan. You stated back on the 18th that you would sell at the gap and you followed through. Not saying after it crosses that maybe it'll go higher, let's see how much more it'll run,etc....
Thanks again, Brad