Thursday, August 7, 2008

ON Semiconductor Corporation (ONNN) - New Short Squeeze

ON Semiconductor Corporation (ONNN) which supplies analog, standard logic, and discrete semiconductors for data and power management, scored a new FusionIQ Short Squeeze yesterday.  ONNN has 12.00 % of its float short and shot up yesterday on over 3x its normal volume suggesting strong institutional activity. Given that semi's have started to catch a bid ONNN shares look attractive here with a $ 15.00 target.  There may be some consolidation or minor pullback, however these are likely good buying opps.

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