Yeah, I've got a handful of nifty companies like Home Depot that continue to amaze me. Fun to shop the isles as a shareholder.
The market may be debating the technologies, that's ok by me. I've been learning a lot in the process. Never sure what the short term will bring, stock price wise, but I know the long term strategy is sound. As you know, I'm not interested in timing all this except for along the edges...just want to be a part owner in a business that is changing the future.
It may seem really strange, but my decision to buy and stay on board with QCOM is not effected by what the stock does short term...only how Jacobs and company perform. So far the verdict is very clear...an outstanding product and an outstanding team. This is why I have poked fun at those who focus on short term things. Just seems so silly. But I guess you know that.
The near 20% gain in the NASDAQ this past week is a clear indicator that markets surprise...and despite the crowings I am sure I will be reading (as I grind through the last two days postings) about how Q is still stuck in the seventies, the Q will give its share of surprises without warning.
Regarding TA, I dumped the rest of my money on Q Tuesday around noon when I saw that our gap price held and the volume exploded...so even this skeptic sees value in the charts once and a while...but again, I only seem good at it on the buy side. I would strongly suggest anyone interested in seeing the bullish pattern and what it means...do this:
Print out a 10 min chart of this last week and look at the price/volume action on Tuesday, June 30.
easystock.com
Then print out a year long chart and see how the stock held ABOVE the gap (around the 1st of Nov.) some were flapping about so often here
askresearch.com
...although the view was the gap would be filled...well, it wasn't...but the fact that it wasn't (on follow through strong upside volume) was a strong indication to me that it was time to buy big time. The trouble here is that we had several TA services flashing buy signals around $150 as well (look at that point at the end of March)
askresearch.com
...so charts certainly have their limitations...the stock didn't hold and fell back. In hindsight, the chart says that, but it didn't help those who followed that buy signal unless they set some stop.
That said if you look at the volume buys on the uptick Tuesday afternoon (the 30th), Thursday at the open (1st), and Friday at the open and again around 2:30 (2nd)
easystock.com
...it is real clear to me that we are gathering steam and will be quite happy come earnings in July.
All the best to the Q Bulls.
<H> |
