Curly, thanks for the cheer leading. Long and very long on cymi.
I have to keep reminding myself I'm in this for 2yrs minimum.
Anyhow, the shorts are targeting another SD area company, QCOM.
Surprise, Surprise.
Rumor #1, company is about to restate earning.
Rumor #2, company is going to owe royalties on QCOM's CDMA technologies.
I quote from the STREET.COM
A lot of these fairy tales fester because few traders,as
opposed to analysts or brokers, actually understand what high
tech companies do." What do they do?" says one seller of
Qualcomm. "F___if I know, but I'm shorting them big."
Is that story grim enough to short? At least one trder from
a major Wall Street desk nows say no. " CDMA-something-or-other,
whatever," he said this past Monday,"But it's looking a little
heavy on the short side for me, so I got out."
Sounds very familiar to me. Now I know what we are dealing with.
People with the power sitting on the sideline, knowing the shorts
don't have a leg to stand on but are reluctant to be caught in
the cross fire. |
