Some previous leaders such as AMCC and JNPR seem to be basing. Should I sell these previous leaders and buy into NVDA?

Yes, AMCC and JNPR are at the bottom of some serious bases that started back in October 2000. They are deep at the bottom and will take a long, long time to ever return to their highs. Still, that does not mean they cannot produce good returns. JNPR doubled in April, but it has since given up a good chunk of that move as it fell below its 50 day MVA. The pattern has deteriorated, and AMCC’s pattern is similar. Should you sell? We are not allowed to give advice on specific stocks. Moreover, without knowing where someone bought at stock, the rest of the portfolio, etc., it is very difficult to give such advice even if we could. At this point we are not looking at either stock from a long term perspective. We will look at them for short term plays if we see the pattern form up well, and if we see a bullish pattern develop we know they both can give us some fast moves. We are also looking at NVDA right now with interest. It broke out of a cup with handle patern in April, and it has now formed and ascending wedge on top of that. As discussed in our Technical Analysis seminars, these are some of our favorite patterns, and we are looking to add more NVDA when it breaks out of this pattern if the market is still looking overall bullish to us as it is now.