It's not the stock it's the market. We have to accept the selling, if we can't take it then we need to move on. I see mid to low 90s. The base has been broken we just hit the upper channel line of a newly developed downtrend. QCOM is hostage to the market, not even NOK will change that. Sure we could get a pop out of it, but until the naz. market health is restored, QCOM will trend with it, and the trend is down. It doesn't take much to see the above as true with the earnings as great as the are, being ignored in nearly every single tech. stock that has reported. The glow is gone.. Look at BA, MCD, and UPS all gaining on good earnings, all of them coming off lows. Why mess with blotted tech. stocks, when you can find value and relatively good earning, and dividend to boot? Investing in those three sounds boring, doesn't? Sure it does, but it will beat a money market and bonds while you wait for the naz to get it's act together and that my friends is the logic of the market we are in.
Greg |
