Lam Research Gets Roasted

Lam Research Corp.LRCX is a leading semiconductor equipment manufacturer that is coming under sharp selling pressure this morning. The company reported earnings after the bell yesterday and the market reaction is obviously not well received. Lam Research stock is trading lower by $3.12 to $48.92 a share. Traders can watch for support in a few different areas. The $49.00 and $48.00 levels will be intra-day support for short term scalp traders. The stock will have daily chart support around the $47.00 level for swing traders should it trade down there. Other semiconductor equipment manufactures that are trading lower in sympathy to Lam Research are Applied Materials Inc.AMAT, and KLA-Tencor Corp.KLAC. The semiconductor equipment manufacturers will notoriously bounce higher during earnings season right after Intel Corp.INTC reports earnings. Intel Corp. always says they will do more research and development. Yesterday these stocks were all higher and are reversing lower again this morning. Always be careful during earnings season. This is why we use charts. Nicholas Santiago InTheMoneyStocks.com