"buy and forget stocks"
Robert,
I have to take issue with your "buy & forget" sentiments. A four year chart on QKTN clearly shows it to be IMO "a trading stock" while one may want lock a few shares away in the vault; given the zig-zag SIDEways pattern since its IPO its clear the only way to make decent return is to trade it. QKTN closed Feb 3, 1994 at $15.75 anyone who bought & held shares on that date is still underwater today!
Peak Feb 2, 1994 @$15.75
Bottom July 14, 1994 @$6.18
Peak Dec. 30, 1994 @$13.75
Jan 5, 1995 QKTN warned
Jan 12, 1995 another bottom @$7.00
Mar 24, 1995 a retest @$6.50
Dec 11,1996 a peak @$21 5/8 on news of Vinik's purchase
April 1, 1997 QKTN warned again
April 29, 1997 another Bottom @$6.69
(all prices are closes)
Technically the chart is one of rising wedges followed by failure.
Don't get me wrong, I too am very Bullish on the Long term outlook for Quickturn
and the entire EDA sector as a whole. But I'm also a realist about the pathway QKTN's chart has carved out for itself since the IPO.
TTFN,
Trey
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