I'm not sure how to reconcile your statements
"I took a severe beating before I bailed"
"this FUD will stop soon enough & QCOM will be back"
Hi John,
Considering QCOM was the main reason I became a paper millionaire - I crossed that milestone around the time we rallied back up to $160+ in late March; then because I stuck with it (believing in the company's underlying fundamentals & NOT the FUD) until I could no longer bear the pain - at $72 & change a few weeks ago; I would think it was quite accurate to say I took a severe beating.
I still believe this is all FUD driven. Statements coming from the company lead me to believe that the underlying fundamentals are still extremely strong, both here & now & going forward. If this assumption is correct, then those spreading the FUD for profit will soon change their tune & sing QCOM's praises (as they switch from short to long).
So you anticipated that the FUD would drive the stock below the level you sold - so you could get it at a lower price? At what level did you bail? (if you want to share this), and what is your price target for "will be back".
When I bailed at $72 & change, I was essentially capitulating. I have seen FUD take down other company's, but never to a company with such strong fundamentals, earnings growth & essential IPR on technology in a sector that is growing rapidly, both now & well into the future. It was my fear that these FUD meisters would get QCOM to fill that gap in the upper $50's that pushed me over the edge. I would have been financially ruined if that happened. It was a decision to fend off certain calamity. Although it was gut wrentching to sell so low, I still had some cash to live to fight another day. FWIW, it was an extremely stressful time as I had already retired early to manage my protfolio (in excess of 1.1 mil).
Reality bites. FUD can take down even the strongest of companies. Another tough lesson learned. QCOM is a fine example. Do you honestly believe QCOM desreves to have a 12 month target of $50/share?????? What has changed that would cause QCOM to trade at 38 times next years downward projected earnings????
Read this post.....
Message 13888144
I do not, for one second, believe QCOM is doomed unless there is a market shattering event, or some unanticipated REAL event arise that has not yet been dragged out by the FUD spinners.
As for re-entry into QCOM, I am not a TA guru. I will jump in when it looks & feels like the psychology has changed. I may not get back in on the bottom. I may end up buying back above where I sold (I can't afford to have more FUD end my brief retirement.). I do know I will be back into QCOM as I can't think of another more undervalued company with such HUGE growth potential for the next 10 years. IMVHO, QCOM is a no-brainer once the smoke clears.
BTW, I just can't see this FUD crap going on beyond July earnings. The numbers & forward looking stuff will be hard for the FUD meisters to spin into doom & gloom. (again, I suggest you read the post I linked herein.)
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Hey Jim Willie. Hang tough my good friend. Go to the party & clean out the cobwebs. Hang with your porch peers & put faces to those who have come to know & love ya. It will do you a world of good.
Tim |
