Just some thoughts about the last few days:
1)The good Dr. J's use of the word "slump" was either very calculated or very stupid. I believe calculated, but that has put a lot of hurt for shareholders, especially those who have entered into this stock this past month or so. Maybe he is "allowing the Street" to enter in on the cheap. Then again, very smart and brilliant people have been known to say stupid things, and if that is the case, that was one very stupid thing to say. There were a number of ways to say it without causing a panic-like selling spree. But who knows???
2)The question I have after reviewing the charts again, is this a broken tech stock? We have an eerie symmetrical gap up and gap down with what appears to be a broad distribution head floating in the air. I'm not at all suggesting QCOM is a broken company, just a broken stock and we need a Maytag repairman real bad. If that is the case, we are in for an approximate 6-month repair time in order to fix the damages.
3)Now almost nothing was spared today, but it still appears to me institutions have been dumping big-time for the last 3 days like QCOM has some deadly disease or something. Obviously, someone was buying as well, but QCOM shares could be going from 1st tier into 2nd or 3rd tier firms.
4)When QCOM announced its 4:1 split last year, I was down in my Carlsbad home at the time. That day, you couldn't get a seat at any restaurant, there was so much glee and celebration. I betcha there's lots of seats around at any good eatery right now.
We need 911 to resuscitate the "Not-so-Mighty Q". My viewpoint is for the near term. Hopefully, by the middle to end of this year, QCOM will we nursed back to health.
Good luck all - we need it!!!!
jmanvegas |
