Are you watching the semiconductor stocks? Triquint Semi (TQNT) might be about to work. (January 23, 2013)

by DAN TQNT 
Good evening I’m Dan Fitzpatrick at Stock and OptionMarketMentor.com; by the way if you’re not a member of Option Market Mentor please explain why that is. Anyway, today on January 23rd, that’s Wednesday, I want to look at TriQuint Semiconductor ( $TQNT TriQuint Semiconductor ). This is kind of a random stock given the fact that we’ve got Apple and Google ( $GOOG Google Inc ) and IBM ( $IBM International Business Machines Corp ) and Netflix ( $NFLX Netflix, Inc ) and all of these things going all over the place. But I want to look away from the battleground and just look at something that I think may in fact start moving. That’s TriQuint Semiconductor ( $TQNT TriQuint Semiconductor ). The company just announced that they’re going to be announcing their fourth quarter earnings on February 6th. That is a couple weeks from now, two weeks from today, and the way this stock has been trading, zigzag, you know, whoops sorry, up-and-down and up-and-down where it’s now kind of pushing right up against the 200-day moving average, which had kind of been support right here, you know it’s pushing up this way. I think this stock has a pretty good chance of starting a bit of an earnings run. Now, because Apple ( $AAPL Apple Inc ) got just absolutely decimated after hours, it’s down big, so much for being able to call a bottom a week before earnings. But anyway, with Apple ( $AAPL Apple Inc ) down and some of the associated semiconductor stocks being down, you’re going to see a TriQuint Semiconductor ( $TQNT TriQuint Semiconductor ) trade down tomorrow morning too. But I want you to watch it because if it firms up, look this is a $5.00 stock, so you know, 50 cents, hey, that’s 10 percent the last time I checked, that’s mental math, aren’t you impressed? If this stock pulls back a little bit, as long as it stays above this 20-day moving average, this is a stock that can generate some pretty nice returns over the next couple days. What Apple ( $AAPL Apple Inc ) is going to do is really create the type of selling pressure that we want to see happen, that gives us maybe, you know, a little bit more willingness to buy a stock that already seems like it started a nice move. So we want a little back and fill here, we want it to come back down here and then start moving higher. Anyway, look liquidity’s fine, trading almost three million shares today. Again, it’s a small stock, small company, but this can move in a big way on a percentage basis if we’re right about this. So watch that February 6th date, watch TriQuint Semiconductor ( $TQNT TriQuint Semiconductor ) and see if it does in fact start an earnings run. I think this can return some pretty nice up profits in the next couple weeks. Okay members we got Apple ( $AAPL Apple Inc ) we got Netflix ( $NFLX Netflix, Inc ) we got Google ( $GOOG Google Inc ) we got IBM ( $IBM International Business Machines Corp ), we got it all, so get over to the Strategy Session we’re going to do that right now.

Free Chart