Kevin: I would say $30. In that case I loss about 24%. It is bad but I can take it. And I disagree that some people said that if QNTM goes to $30, it will go up higher very soon. I think although QNTM shows a good support around $24, the institutions are still not buying yet. The reason for it went as high as $27.625, IMO, was because of short covering. So it won't be easy even go up to $30, not to mention $39+, not until institutions start to buy this dog. Keep in mind, this stock had as high as 94% of institutional holding before the big drop.
In most of investment 101, they recommend to buy the stocks which have high institutional holding. However, through my personal experience, don't touch this kind of stock. Because those big guys are always better informed than individual investors, they get out first, and only leave the small investors to hold the bag.
And also, about your comment of market coming back in last late spring, I don't think it will happen this time. What is the DOW and NASDAQ at that time? -- Dow was lower than 6,500 and NASDAQ was around 1,200. And what are they right now? There is no party can go on forever. I don't seen any kinds of that degree of rising until we have a big correction. Not to mention Asia slowdown will put higher pressure on Tech stocks than most of people expect, IMO. Fourth quarter earning have not been, and should not be, affected much, wait and see the first and second quarter earning this year. That will show the real impact. I just hope I can get out from this dog by then. Keep my figures crossed.
Good luck. |
