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Ones To Watch: Google, Citrix, SunPower


Some up, some down, all with potential.

  • Citrix Systems (CTXS): This stock got downgraded today. I still feel this name is very strong longer term, but we're approaching pre-announcement season and analysts could be firing hard on downgrades ahead of this upcoming quarter. If CTXS gets close to $30 I'll add a leg.

  • DUG: I've been out of DUG but am feeling a setup is brewing again. However, I would like it better if it was a directly inverse to the actual price of oil.

  • Rambus (RMBS): All I can say is I've been buying this stock on pullbacks for years and I'm with Pete Najarian currently. I too noted the option pressure and stock action of the last two days.

  • Google (GOOG): The upside response to GOOG following the end of Microhoo (Microsoft (MSFT) and Yahoo (YHOO)) and the search deal with YHOO seems quite muted to me. I still think the $588-605 level holds the key and breaking through that range should help the long side.

  • SunPower (SPWR): The solar company is holding yesterday's impressive gains and it has an alternate energy conference later this week. A weekly close over $85 puts it in full bull mode again.

  • Mentor Graphics (MENT): Here's yet another deal in tech. Cadence Design Systems (CDNS) offers $1.45 billion for MENT. Tech deals have been moderately strong since last summer and I expect them to stay strong through year end.

In Other News

(INFN) had a nasty surprise here as the stock was approaching another breakout level. I had trimmed this position into strength of late, however I would have bought the next breakout. So at least the news came before that happened.

INFN tried to put lipstick on the pig here with new contract talk, but lowering the full year pretty much did the damage. This announcement all seems a bit strange to me and I believe that's why the stock is down almost 31% on moderately bad news in totality.

The question I'm asking is why reaffirm the next quarter but lower the full year bar? Sales in tech are notoriously back end loaded anyway (especially in the FO subsector) and new contracts could mitigate whatever North America customer weakness it's seeing.

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Position in RMBS,GOOG, INFN. Active in SPWR but currently flat.

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