Vitesse Working On Its Largest Volume Day

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January 24, 2006

Vitesse Seminconductor VTSS is working on its largest volume day going back to 12/11/2000. VTSS has a shot at surpassing that day with an hour and a half left going into the close.

Todays volume is 5 times the average volume based on a 50dma. So lets break this down.

1. Cup and handle pattern
2. 5 times the normal volume on the breakout today
3. Big short covering. (short covering can start rallies)
4. My system is now showing a buy on VTSS (happy I’m long before the big pop)

I don’t think I’ll be selling this into the close. It will be interesting if AMCC can follow up with a good report tomorrow after the bell. Not surprising my systems show AMCC is on a buy with todays price action too. Big semis have dissappointed while smaller semi stocks have surprised and met.

A trend here?