If you look at a chart from Tradeking for symbol CY with the criteria
5 years
weekly
candle stick
and select to view the earnings of the company you'll see a HUGE drop on October 5, 2008.
Today the company has fell past their 200MA. I want in on this trade, but don't have the resources to find out why in the world this company dropped from over 20 to 4.
Any insight would be appreciated.
Forum > Cypress Semiconductors dropping over 20 dollars
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Posted November 03, 2009 (10:27AM)
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Posted November 03, 2009 (10:46AM)
I don't follow CY (I hold CSCO, INTC, PLAB & AMAT), but I took a quick look at the chart. The huge drop last fall will cause a skew in the 200MA which turned up a couple of months back after 200 days had past. The fact that there has been a recent cross is more due to the big drop over a year ago than to today's negative opinions on the sector.
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Posted November 03, 2009 (11:33AM)
October 2008 was a difficult time for the market in general. I do not follow CY but if I remember at that time they spinned their solar business - one option CY was still trading as one and oil went down so solar failed big
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Posted November 03, 2009 (12:17PM)
Yes OF, good question:
I did a quick look at the income statements, quarterly data. Sept 28, 2008 appears CY surprised the market with its loss of $24 mil. The data was most likely posted 10/05/2008. Can't determine the exact date of posting 3rd quarter 08 loss. Second quarter of 08 CY posted a profit of $23 mil. Good Trading Montana |
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