Could You publish the other 99 stocks to back you up?(g)
I am eager to see the performances of other stocks that you think have high probability.
Fundamentally, QCOM has a high potential market and will continue to have high growth. The point that its fundamental factors are already discounted is completely wrong. Look at last Q, after its earnings release, QCOM had a great run. This Q it even didn't run much before earnings, compared with other stocks. During its earnings release period the market continue going down, which hurt its performance. The pattern that stocks with good earnings went down also impact QCOM.
The current short term supply over demand is because its removal from midcap400 and entry into S&P500, that the company offer 6.9 million shares to funds and midcap400 funds released a couple of million shares. Once this is digested, fundaments will dictate. From its performance today, it is very bullish.
The only thing that may bring out your prediction is the whole market.
The current weakness in market is something I don't understand and feel quite uncertain. At Dow 10900 and NASDAQ 2600 are important supports, if they break, we will go much lower. But it seems we should have at least a little bounce from here.
If the market can stay here, QCOM will go higher. If the market goes higher, QCOM will soon break its high of $167.
But I am very cautious at the market, there is not much willingness to buy, not a good sign. |
