STEC - STEC Inc.

[USMC]

They pulled a nice profit, but it tanked???? I think some are worried about their statements about one of their large customers.

"We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful." -- Warren Buffett

[johnpalley]

are you guys getting in now or waiting. this is a huge drop!

[USMC]

I'm still watching. It dropped that far in yesterdays AH, and I expected it to rebound a little today, which it didn't. Based on that, I'm gonna wait for now. I have a hunch there's more to the story based on that big of a drop.

[Norlan]

Originally Posted by johnpalley

are you guys getting in now or waiting. this is a huge drop!

I'd be cautious about this stock if I were you. This was a $5 stock back in Jan 2009. I didn't read into the details much, but concerns weighing on one big customer and cost over 30% of stock? This company doesn't seem too diversified to me. Plus they're selling flash drives as part of their core business and that signals me lack of sustainability. I'd be worried even for a big name like Sandisk. Tech sector is not an easy field to play in if you dunno who your competitors are

[Journeyman98]

Originally Posted by johnpalley

are you guys getting in now or waiting. this is a huge drop!

i expect this to fill that gap between 10.25 and 13.50. Once it does that, I think $9.00 is support. Just my opinion

[USMC]

This is still tanking- I'm glad I went with my gut.

[Norlan]

not sure what to make of this, cant find any news but nice recovery today

[Journeyman98]

Originally Posted by Norlan

not sure what to make of this, cant find any news but nice recovery today

Looks like that day was a bit of short covering cause the next day, those gains were taken away.

It's currently on top of the support of 13.00 and it needs to hold that line if it wants to go back up. Double bottom?
The daily chart is showing it oversold( <-- is that the correct term, for it being sold off too much?)
The weekly chart can move lower and support is about 9.95.
The hourly chart is using the 50 period SMA as resistance, so it's anyones ball game.

I think it needs another 15% off before it moves back up. Just my opinion, and that's been wrong many times.

I'm still going with this call:

Originally Posted by Journeyman98

i expect this to fill that gap between 10.25 and 13.50. Once it does that, I think $9.00 is support. Just my opinion