Mike:
Not sure that I am an expert in "gap" analysis. What I have observed is a very high correlation with QNTM filling it's gaps. Many times, when QNTM gaps up or down at the open, it fills that gap intraday.
On fewer occasions the gap does not fill intraday, but will in 2-5 days. On 1/30, the stock gapped up 1 point and has yet to fill. The last time a similar event occured, it took 21 trading days to fill that gap. Today is somewhere in the low 20's (22 I think) number of trading days since the gap up on 1/30. I remember posting my original comments, which received several negative guffas back in early Feb. However, with the Intel news, today may be the day it finally fills. If it does, and does it convincingly, I will be jumping in. Some positive news looking forward is the gap down that was created 2 days ago, which has yet to fill. It will eventually, probably in the next several weeks at worst.
My concern is just how bad might techs get short-term. The Nasdaq has run up much and fast. Earnings warnings are beginning to pile up. Asia is not over. Iraq could still flare. Clinton's zipper may yet be undone. Wall of worry? I have to believe QNTM in the 20's is a good move looking out a couple months. Can we get it lower? maybe -
just don't know.
Jim |
