Stewart, all. I have just listened to the conference call and offer these reactions off the hip. First, it is clear to me that Q was exposed to Korea much more massively than I thought (and I knew they were exposed big time). Second, I think the next three months belong to the analysts and whether, or not, they accepted the Q's explanation that they were caught "BLINDSIDED BIG TIME" or whether they think Q management mislead them. Third, I just posted on Motley asking folks to accept a Watergate v. Zippergate analogy, i.e., things change today like big time faster than 25 years ago. Check the Motley thread: guys are threatening law suit, pissed off because of proximity in time between great earnings report and today--how, they ask, could things change so fast? I asked them to consider that Slick Willie will be in or out in weeks or months while Tricky Dick hung on for eternity (relatively).
My hunch is that this has been a six month torpedo for the Q, damn it. LEAP's may be a smart play tomorrow. Long term, still very long on Q. Mike Doyle |
