Off-topic, my QCOM prediction...
OK, maybe not so off-topic, as I think that QCOM represents the current market mania.
Based purely on "gut feeling" (ohoh...) and on CMRC as a precident, I'd bet that QCOM trades up to 1000 (250 post-split) by Friday, and then turns-tail right after the 1'st.
That 1000 target was a 1-year target. So, what happens when a 1-year target is reached in 3 days?
Man, are there gonna be a BUNCH of QCOM shareholders ITCHING to pull the trigger on Monday!
But what long-term QCOM shareholder in their right mind is going to sell before the end of the year, and take the tax burden this year?
Next week, though, there will be plenty of them that have it as a long-term capital gain and who are going to be quite satisfied with their gains for 1999, thank you!
I think the big question, market-wise, is how much money is sitting on the sidelines due to Y2K? That plus the anticipated surge in technology orders next year, as Y2K spending abates. (See latest Interactive Week.) But that surge isn't expected until February-March.
I am debating a QQQ short by Friday. |
