It doesn't seem to matter that it will earn $2.75 in 2-3 years and at a multiple of 70, since it is growing at 50%, would be worth close to $200, easy. Almost a 30% rate of return per year for three years.
What kind of return is 30% when you're used to 2000%?<g>
HiTom.. there's something about QCOM which elicits very strong reactions, like a spectacular and mind numbing babe.. At first they're infatuated,then they fall deeply in LOVE, then the pimples start to show themselves where before there were none and the hangover starts to set in. Things go to the other extreme. She doesn't live up to their exagerated expectations, they revile her. The cycle begins anew, a different set of suitors perhaps.
This may be obvious but the thing is in times like this trading issues just simply take over, not because most of the lovers who've been buying are infatuated and don't understand what they're buying, which is probably at least partially true, but because they're all getting whupped. Every single applicant who bought a share since Paine Webber's DEATHKISS and who still holds onto the dream is losing money. These huge volume days..so many of them, all lovers losers, hence sellers. Must be pretty bad for some, 30-40% losses over a few weeks, reasonable prospects for greater rejection ahead. Hard to make rational decisions with that kind of humiliation weighing on you.
And anyway, this market's been so irrational for so long I don't see why it should change now?
On the positive side, LindyBill has been selling, which in the past has marked the bottom..
And to you Maurice..Had I known your suspension would only last for three days when I penned your eulogy I might have had other things to say..
Dave1 |
