Monday, July 16, 2007

MIPS Technologies, Inc. (Public, NASDAQ:MIPS)

The weekly chart shows that shares of MIPS just cleared some resistance from the last five months near the 9.25 level and now if the stock can push past the year high at 10.00, it looks ready for a quick pop up towards 12-13. You might want to check when earnings are due, that could provide the catalyst. Whatever the "reason" for a push past 10.00, there will be 3.8 million shares in a losing position courtesy of our friends the short sellers, hopefully they will panic and chase the stock higher.

Here's what they do, from Google Finance;
MIPS Technologies, Inc. develops embedded processors and related intellectual property for use in markets, such as digital consumer, wired and wireless communications, including broadband access, office automation, security and automotive markets. The Company has developed standards for both 32-bit and 64-bit computing. It licenses its industry-standard MIPS32 and MIPS64 instruction-set architectures, application specific extensions, core designs and other related intellectual property to semiconductor companies and system original equipment manufacturers. MIPS Technologies, Inc. has more than 155 license agreements with more than 105 companies around the world offering more than 280 processor-based chips for the embedded market.