Rose--more news releaseable after stock offering. It won't be bad news!!
Well, I'm with marginmike right now - in a bit of a funk. For the same reason - should have cashed in the short-term options positions today and not bet on an earnings bump. Can't blame Q for that, of course - it's the way the game is played in the big leagues.
I do console myself for the rest of my longer-term holdings, though:
- We had said many times that some big institutional buyers might be holding back from purchases, wanting to make sure that Q2 wasn't an anomaly. Now they know, and they will be able to dive on in (along with everyone who needs to purchase it for their S&P indexing in the next six weeks or so). Remember, the secondary offering covers only about half of the shares they'll need - the rest will have to come from the open market.
- John, I'm sure you're right that all news is not yet out and won't be until after the secondary. We have four big possible "S"s: Sony, Siemens, Sprint, and Split. :-) Good news relating to any or all might be possible in the coming days or weeks.
- Let's pose another question this way: If you were an analyst at Lehman or Merrill, would you have seen anything in the earnings report or heard anything in the CC today to make you back off your $200 target price? Would you plan to issue a reiteratation of it soon? If you were a big institutional holder, would anything in the report or CC make you want to sell? I would guess the answers to all of these questions are still on the positive side for QCOM.
Okay, enough talk therapy. Time to make that yummy Tofu dinner.
-Rose- |
