Altera Corporation Analyzed - Benzinga Strategy Session (ALTR)
February 22, 2010 8:58 PM
ALTR: Benzinga Strategy Session #3 of 100
In the short term, look for a pullback in Altera Corporation (Nasdaq: ALTR). I respect the uptrend that ALTR is in right now but a pullback will be healthy. For long term investors, a pull back of 5% from its peak will be a better entry point. The chart is bullish but if you are trying to get into the party long you are too late (from a risk to reward standpoint.) Wait for a pullback then get long with some protection in puts!
If you are looking to short Altera Corp, I think that getting in before this trend is broken is a mistake. You could find a quick sell off as traders take profits, but I do not think you will see a large shift in trend to the downside. When you get short and see the prices fall I think you must note it as a short term trade. Good luck and happy trading!
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