qdog,
just finished watching excellent interview on Squawk Box about Asia impact. These guys must have been reading my posts. I am turning extremely bearish again. Why? I am leaving on vacation Thursday. Those who had experienced past "Ramsey Su vacations" would attest to the reliability of this indicator.
qdog1, take the opp to dump those margined shares. You have been forewarned. Come dn the airport on Thursday and buy me lunch.
After digesting all the news yesterday, I am actually a little pissed off at management. Though the Korean cancellation could be filed under the unexpected category, the press releases yesterday did not just come out from thin air. They certainly knew of the product introductions and the pending contracts two weeks ago. Instead of creating a panic, they could easily issue some guidance now and smooth out the bumps. The net results of the new contracts and the cancellations are positive. So if one likes QCOM earlier this month when it was in the mid 50s, the current price should be even more attractive. However, short term news from Asia, especially Korea, could give this stock another hit.
In summary, I will give QCOM a Merril Lynch type rating - 1-3-R-30-P-7-6. (1 for intermediate short term not to exceed midterm, accumulate mid-term to not so long term, R for a Ramsey Su vacation discount, strong buy if stock hits 30, punt if none of the above hold true......)
Ramsey |
