QCOM. . .give me a break! . . . . .It closes yesterday at 503 after rebounding from a drop to 470 on the XING news. So what do the Anal-ysts do overnight? They upgrade QCOM to 1000. It is now trading at 573. . .up 70 points on just 125,000 shares!! Hello?
Then CNBC has nothing better to talk about, so they take QCOM from segment to segment. . . pumping as the price keeps rising.
Shorting at 570 in the pre-market looks to be a better play than buying there.
Funny thing is. . . .if I were to upgrade HEAR to 100, I would be accused of hype. But these anal-ysts can just keep putting out upgrades on the stocks they hold and people buy it.
If we are at the near-term top of the market for high techs. . . [who would argue this?] . . . then tell me why ANY brokerage would go out on a limb and say "buy QCOM at 570, 680, 800 and 900 because it is going to 1000!" The only reason is to further their personal gains. . .
To recommend investors load up with these high-fliers at these levels in the current market is IRRESPONSIBLE and the brokerage houses that do so should be investigated and fined by the SEC. "That's P-A-I-N-E, Capital W-E-B-B-E-R. . . that's right, officer."
And if CNBC pumps this upgrade, in the face of a market that is dangerously high. . .as their own analysts have warned many times. . .KNOWING FULL WELL that the upgrade is considered by MOST to be extreme. . . .do they not share in the responsibility?
And when America shifts its appetite from CDMA to one of the new wearable PC formats that use wireless internet, email, etc. . . like Broadcom makes. . . . then the future is limited for QCOM?
I don't like what Wall Street does to the American public.
QCOM now trading at 581 in pre-market. . .with only 170,000 shares traded. . . if this is not market manipulation, I don't know what is.
Rande Is |
