Seagate - something is up

Wee.



Disk drive leader Seagate is up over 110% in the last 20 days. As you can see from the lower panel, the last time the name traded this much volume the name was gapping down.


My bet of late has been that if the market could put in a bottom, there would be some early cycle names that would work in the short term. In tech, semis, flat panels and disk drives fit the bill.


The semi index is only up about 25% over the same period (since the March 9 lows) so it's safe to assume that something else is going on with Seagate. This is pure speculation by if I was Samsung I would have been feeling very acquisitive at the levels that we were at a month ago.