PPR - Follow-Up on TTM, RAX, ROVI

Published : September 10 2010 at 10:54 ET

RAX - The anticipated pocket pivot in RAX did not occur yesterday as volume fell short of that traded on 8/26. However, volume was well above-average, and on that basis the move looked to be setting up a breakout through the 21 level, more or less. That has now happened, and we may find that toda;y's volume shapes up as a pocket pivot volume signature. In any case, we were anticipating a pocket, and took a position on this basis, so the stock is still a hold, in our view. We own it.

TTM - We like TTM yesterday based on the pocket pivot buy point of what is now five trading days ago, including today. the stock is up a bit on strong volume in the first 40 minutes of trading so is working so far. Please review our prior PPR comments on TTM from yesterday, of which there were two. We have a position in TTM.

ROVI - the stock is dogging us so far, and after the pocket pivot buy point of two days ago, the stock is coming in on light volume. A little disappointing, but still developing. Patience and proper position sizing (in other words, RAX and TTM are more deserving of capital based on their price/volume action) may be the recipe for this one to work. We have a position in ROVI, but it was cut in half based on the lagging action today, so that capital could be deployed into stronger situations.

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