Kvogel: Looking back over your previous comments I see that we are approaching QCOM from two entirely different angles. I am already long QCOM, so when I say where I think the company is going longterm, and I talk about it's positives, what I am really saying is why I will not sell, even though the price trend may be down for awhile.
You are looking to buy and establish a new position. You obviously want to get in at a reasonable price, and cannot justify buying at the current price because you think you will get a better deal. You might. If I was waiting for a time to get in I would just be watching now as well; I don't know if, or how much lower QCOM will go, but I would be watching closely, and buy when I was confident that it was on it's way up again.
If it manages to survive this very negative market without going lower, which would be amazing, then it will be on to bigger and better things with that much more certainty when the market eventually heads up again. If it does take a hit you will have a chance to pick up more shares for the same pile of bucks.
I recently bought CSCO. It was a stock I have wanted for a long time but it was always too expensive. I bought at $53, not the bottom by any means but a heck of a lot better than the $70 or so it traded at not too long ago. If I had owned the stock when it was $70 I would not have sold, because my investment strategy is to pick good companies and ride out the short term ups and downs. I have tried to dart in and out, taking advantage of price swings, but I was no good at it. And it was also pretty stressful.
Regarding technicians as managers: I agree 100%. Good nerds are sometimes lacking in common sense. I believe, (anyone care to say more on this?)that QCOM has enough key people with BUSINESS abilities helping to call the shots when it comes to good business sense.
Good Luck. |
