Wednesday, September 06, 2006

Trade of the Day - Lam Research Corp NASDAQ (LRCX)

The NASDAQ's sharp gap down off of the open, was a pretty good signal that this was going to be a bearish session. I quickly reviewed my short list of weak stocks and decided to short LRCX. Semiconductors were hit hard today on a SNDK downgrade and news that INTC would cut fewer jobs than expected. In AH trade, ATYT guided below consensus resulting in more bleeding for AMD and NVDA (sympathy).

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