Allen, while we are killing time, watching the general market melt-down, mind as well take the time to discuss this WIND/QCOM behavior further.
All stocks start off as a story stock at one time. QCOM broke from that phase when AirTouch finally launched. WIND arguably may still be in the story stock phase.
Then come the "show me" phase. Both stocks are at the verge of breaking through with some real earnings so the street can more accurately assess their respective values. Herein lies the difference, in my opinion, between QCOM and WIND. QCOM has the potential of some very pleasant surprises in less than 3 weeks, when they announce earnings. WIND, on the other hand, may be a yr or more away from showing its true colors. As a result, WIND will be a lot more volatile than QCOM in the immediate future.
On the technical side, I agree with Stephen on the 54ish support for QCOM. Looks like an ascending triangle which I understand is an extremely bullish signal. If it breaks through 63, sky is the limit.
WIND, unfortunately, is busted at the moment. Any idea where support is?
Finally, since we have turned this thread into a book club, I recently read "Den of Thieves", an old book on the Milken/Siegel/Boesky era. I find the book very interesting because it revealed a lot of Wall Street mentality. Milken and Boesky may be names of the past but I am sure there are similar manipulation that may be borderline legal occuring today. WIND, with such a small float, may be one that is heavily manipulated today.
I agree that if one is not an investor with a strong stomach, stay away from either stock. Come to think of it, you need a strong stomach just to stay invested, the way the market has been behaving.
Ramsey |
