3 Reasons why the Nasdaq is set to Rally Huge? - Hedge Fund Live

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Jeremy Frommer, CEO of Hedge Fund LIVE Jeremy Frommer has 20 years of industry experience and is currently responsible for general management and leadership of the General Partner. Previously, Mr. Frommer was a Managing Director and Head of the Global Prime Services Group (“GPS”) at RBC... More

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3 Reasons why the Nasdaq is set to Rally Huge? 0 comments

Apr 4, 2011 6:39 PM | about stocks: BRCM, SNDK, BIDU, CTXS, NVDA, AAPL, NSM-RETIRED, TXN

Oh what a day of frustration, especially after Friday’s boring and messed up trading afternoon. I am completely fed up with the recent action but today I think the market got the spark that it needs to get the next let higher.
1) After the close today Texas Instruments (TXN) agreed to buy National Semiconductor (NSM) for $25 a sharem roughly a 71% premium over the closing price. Ahhh the sound of cheap money being put to work and the most important spark the Naz needs to get going. Technically I have felt the Nasdaq has a good strong move in it and with semiconductors being a large part of this index, there should be a nice tailwind into tomorrow and beyond. Watch 2380 as important resistance.

2) AAPL stock has performed very poorly these last two days, but held a nice level of support today, $338.50 and finished the day $3 above that level. If AAPL performs poorly and yet the nasdaq still does not crap out, watch out when AAPL starts to rally.

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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Themes: stock market Stocks: BRCM, SNDK, BIDU, CTXS, NVDA, AAPL, NSM-RETIRED, TXN

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