We will probably have a downtick next week, its normal. What is going on Mike, IMO, is a runup to earnings. This companies last quarterly report was the best report I have ever seen. What I, and others on this thread believe, is that Q is going to keep posting major numbers every quarter for the forseeable future. Numbers that will be better than expected.
When you combine The hottest sector, Tech, with the hottest sub-sector, telecommunications, and then "tree" it to a hotter sub-sector, wireless, and "tree" it to the hottest company, Qualcomm, and then realize that the company is a gorilla, and then get great earnings, you can expect an explosion.
As far as PE, I made a lot of money on this company in '93 and '94 when it was selling for about a 300PE, as I recall. But, I knew when to run.
The stock is thin right now, over 37% Funds, closely held at the top, with major stock options out there that people like my son-in-law will use and sell to buy that new house in Rancho Santa Fe, so you have to be ready for a roller coaster ride if you are going to be in this stock.
I am not a "trader", by my definition. I can't time this damn market, so I don't know where we will be in the next 10 days. |
